The Mayor is hereby vested with power and authority to enter into contracts, after approval of the terms and conditions thereof by Council, for the lease, purchase and installation, or either thereof, of parking meters and parking meter fine depositories, and the cost of the installation or rental thereof, or either thereof, shall be solely from the receipts and funds obtained from the operation of such meters and there shall be no obligation on the part of the City to pay for such meters and parking meter fine depositories or the cost of installation from any other source. The Mayor is further authorized to enter into contracts, after approval of the terms and conditions thereof by Council, for the protection and maintenance of such meters and parking meter fine depositories in order that they may be maintained in good operating condition.
(1977 Code 8-901.)