(A) The coins required to be deposited in parking meters, as provided herein, are levied and assessed as fees to provide for the proper regulation and control of traffic upon the public streets, and also the cost of supervision and regulation of the parking of vehicles in the parking meter zones, and to cover the cost of purchasing, leasing, acquiring, installations, operations, maintaining, supervising, regulating, and controlling the parking meters described herein.
(B) The owner or operator of any vehicle which is parked in violation of any provision of §§ 73.020 through 73.033 may avoid prosecution for illegal parking by paying to the city the sum of $1 for each offense within 24 hours of the time the alleged offense was committed. The payment may be made at the police station, and a receipt shall be issued for all money so received, and the money shall be promptly turned over to the city collector.