(a) Establishment. There is hereby established a special, separate and permanent fund which shall be known and referred to as the Parking Fund. The Director of Finance is hereby authorized and directed forthwith to take such action to establish the Parking Fund and thereafter to show its existence and condition at all times upon the proper records of the City.
(b) Use of Revenues. There shall be paid directly into the Parking Fund, when and as received, all income from parking meters, EV stations, and mobility devices. The Parking Fund shall be used only to defray the expense of regulation of traffic upon the public streets of the City; to pay the cost of supervision, regulation and control of the parking of vehicles in parking meter zones; to pay the cost of leasing, purchasing, supervision, protection, inspection, installation, operation, maintenance, control and use of parking meters and EV stations; and to pay the cost, when authorized by resolution or ordinance of Council, of acquiring and developing public space related to the enhancement of EV stations, parking meters, electric scooters, and alternative forms of transportation.
(Ord. 49-2022. Passed 2-6-23.)