The Municipal Administrator is hereby authorized to provide for the purchase, acquisition, installation, operation, maintenance, supervision, regulation and use of the parking meters provided for in this chapter and maintain such meters in good working condition. The Administrator is hereby vested with power and authority to enter into a contract for not more than a twelve-month trial period, after approval of the terms and conditions thereof by Council, for the purchase and installation of parking meters. Payment for such meters shall be provided for solely from the receipts, funds and revenues obtained from the operation of such parking meters, without in any manner obligating the City to pay for the same from any other source.