Annually on or before June 30th, the Mayor and Common Council shall prepare an estimate of the expenditures required for the maintenance, operation, repair, and improvement of the parking places under its charge for the ensuing fiscal year, and, in their discretion, required during that year for the acquisition of additional parking places, if any. The Mayor and Common Council shall also estimate the amount, if any, of revenues to be derived from rentals, fees, or charges for the use of the parking places and the amount, if any, to be raised by taxation. The amount to be raised by taxation for the acquisition of additional parking places shall be stated separately. At the time and in the manner for levying general taxes, the Mayor and Common Council may levy and collect upon and against all of the taxable real property or land only, as the case may be, within the district at the rate determined by the Mayor and Common Council, a special ad valorem tax sufficient to raise the sum of money estimated as required to be raised by taxation.
(Ord. 3589, 7-06-76)