§ 455.10  Application of Funds Collected
   The coins deposited in parking meters or automatically operated gates and the fees and charges collected for the issuance of parking tokens, parking keys or parking cards in Municipal off-street parking facilities are required and shall be used to defray the expense of proper regulation of parking and traffic upon Municipal off-street parking facilities in the City; to provide the cost of supervision, regulation and control of the parking of vehicles in Municipal off- street parking facilities; the payment of the interest on and the retirement at maturity of bonds issued for the purchase of land, the improvement thereof and the equipping of such premises for off-street parking operation; and to cover the cost of purchase, supervision, protection, inspection, installation, operation, maintenance, control and use of parking meters, automatically operated gates on Municipal off- street parking facilities; all of which serve to regulate traffic and reduce the congestion caused by vehicles upon the streets of the City.
   Separate accounts shall be maintained for each Municipal off-street parking facility so as to show the financial results of City ownership and operation, including all assets, liabilities, revenues and expenses, the cost of all improvements, expense of maintenance and the amount set aside for interest and debt retirement.
(Ord. No. 1525-81. Passed 6-29-81, eff. 7-2-81)