The payment required to be deposited in parking meters, kiosks or through mobile electronic means is levied and assessed as fees to provide for the proper regulations and control of traffic upon the streets and highways and other public places in the City, including the cost of supervising and regulating the parking of vehicles in the parking zones created hereby, and the cost of the purchase, supervision, protection, inspection, installation, operation, maintenance, control and use of the parking meters, the mobile electronic formats or kiosks and municipal parking lots and garages. The payment required to be deposited in parking meters, the mobile electronic formats or kiosks shall be collected and accounted for under the direction of the Executive Director of the Parking Authority and deposited by the Executive Director or his/her designee.