In parking meter zones, city council shall cause parking meters to be installed in such numbers and at such places as in their judgment may be necessary to the regulation, control, and inspection of the parking of vehicles, including the reservation of loading zones for commercial vehicles, and shall cause parking meter spaces to be designated as hereinafter provided. The city council shall fix the time limitations for legal parking in the zones and the hours during the day when the parking meters or meter must be used, and when the time limitations shall be effective, in compliance with the provisions of this chapter, and shall indicate the time limitations by designating the same on the parking meter or meters by appropriate signs posted in proximity to the meter in the zone.