(a) The Director of Finance shall have charge of the collection of the coins that have been deposited in the parking meters.
(b) The coins that are required to be deposited in parking meters are levied as a regulation and inspection fee to cover the cost of inspection and regulation involved in the inspection, installation, operation, control and use of metered parking zones and metered parking spaces and appurtenances that have been installed and for the general purpose of maintenance of the traffic and police activities of the Department of Public Safety, insofar as it affects the regulation of traffic on the streets of the City.
(c) There is hereby established a parking meter fund to be known as the On-Street Parking Fund. The Director of Finance is hereby authorized to establish the Fund by deposit of the meter collections established in subsection (b) hereof, as well as by the transfer of an amount from the General Fund equal to those moneys collected from parking tickets. The expenditures charged to the Fund shall be established by Council in its annual appropriation.
(Ord. 165-81. Passed 11-9-81.)