(A) As set forth in § 32.024 of this chapter, the Parking Authority, after paying all acquisition, lease, maintenance, administration and operation costs, anticipated it will generate surplus revenue.
(B) During the approval of the Parking Authority’s budget, this revenue shall be budgeted to be remitted to the city on the following condition: the amount to be remitted maintains ample reserves pursuant to guidance from the Parking Authority’s Auditor and/or Bond Counsel.
(Ord. O-07-18, passed 1-30-2018)