(A) The specified coin, coins, or tokens required to be deposited in parking meters as provided herein are levied and assessed as fees to provide for the proper regulation and control of traffic on the public streets, and the cost of supervision and regulating the parking of vehicles in the parking meter zones created hereby; and to cover the cost of purchasing, acquiring, installing, operating, maintaining, supervising, regulating, and controlling the parking meters described herein.
(B) All license fees collected from mechanical parking devices shall be deposited with the Clerk-Treasurer to the credit of the city in a special fund, which special fund shall be disbursed according to state law.
(Prior Code, § 42.52) (Ord. 1949-6, passed 4-6-1949; Ord. 2019-25, passed on 5-13-2020)
Statutory reference:
Special fund, see I.C. 36-9-12-4