(a) It shall be the duty of employees designated by the Lexington and Fayette County Parking Authority, to make collections of the money deposited for the parking meters.
(b) It shall be the duty of such persons so designated to remove from the parking meters the coins deposited in such meters and to deliver such coins to the Lexington and Fayette County Parking Authority as soon as practicable thereafter. It shall be the duty of the Lexington and Fayette County Parking Authority to count the funds and deposit such funds in a separate account dedicated for such funds, keeping strict account thereof. Subject and subordinate to any existing collateral security pledge for bond issues of the Lexington Fayette Urban County Government or any of its agencies or instrumentalities, any and all such money deposited in such account shall be used exclusively by the Lexington and Fayette County Parking Authority for the following purposes:
(1) For the purpose of rental, acquisition, establishment, erection, maintenance and operation of all parking meters used by the Lexington and Fayette County Parking Authority.
(2) For the purpose of making the system effective.
(3) For the expense incurred by and through the Lexington and Fayette County Parking Authority in the regulation and limitation of vehicular parking.
(Ord. No. 62-87, § 1, 4-16-87; Ord. No. 329-2005, § 6, 12-13-05)