It shall be the duty of the chief of police to make regular collections of the money deposited in parking meters and to remove the sealed receptacles containing the coins deposited in these meters and to deliver the sealed receptacles with the seals unbroken to the director of finance as soon as practicable. It shall be the duty of the director of finance to break the seals and count the funds contained in the receptacles and deposit these funds to the credit of the city in the designated depositories and create a fund called "parking meter fund." This fund shall be disbursed upon order of and under the direction of the city council for the following purposes only, and in the order named.
(A) For payment of the purchase price and installation of meters;
(B) For maintenance, operation, repair, and replacement of meters, and collection of deposits;
(C) For regulation and control of parking on the city streets, including traffic engineering and enforcement;
(D) For traffic improvements, including the acquisition of off- street parking facilities pursuant to KRS 93.351 through 93.356.
(Ord. 15, passed 10-21-54)