New regulatory signs, those which give notice of traffic laws or regulations, such as speed limits and parking restrictions, may be installed by the Director of Public Works or the Chief of Police. Signs so placed shall be submitted to the City Council for its approval at the next scheduled regular meeting. The Chief of Police and the Director of Public Works each shall keep a log of all new regulatory signs installed after the passage of this code. The list shall include the location, type and date installed of all new regulatory signs; and such log shall be produced on demand by the City Council.