(A) The coins so collected and so deposited as aforesaid shall be kept in a special fund called the Parking Meter Fund. The monies accumulated in said Fund shall be used first to defray the expenses of proper maintenance and repair of all meters, the purchase of new or substitute meters and parts therefor and for all expenses in connection with the painting, marking and designating of parking spaces or parking meter zones. The Fund shall also be used for the purchase of signs, hoods and any and all equipment or accessories used in connection with the collection and depositing of the monies received by virtue of this section. The Fund shall also be used for expenses necessarily and reasonably incurred in the regulation and controlling of traffic in or about the previously mentioned parking meter zones, streets and areas, and for the purchase of property for off street parking, and for the purpose of maintaining and repairing the streets and curbings throughout the city, including new construction.
(B) After all expenses and costs of maintenance, repair and purchase of new meters and/or parts are met and paid shall any of the monies be available for the other uses previously mentioned in division (A), and as to such other uses the Council shall from time to time designate the proportion and amounts.
(Ord. 67, passed 5-1-57)