All moneys collected from parking meters maintained by the city shall be placed in a special fund and used for:
(A) Meter purchase, rental fees and cost of installations;
(B) Meter maintenance, operation, repair and all other costs in connection with the operation of meters;
(C) After the payment of the costs and expenses specified in divisions (A) and (B) above, not less than 25% of the revenue shall be set aside for the acquisition of off-street parking space; and
(D) The balance remaining in the Fund shall be used for the payment of costs of traffic signal devices and repair and maintenance to any of the public streets and highways where the parking meters are in use and all streets connected therewith in the city.
(‘89 Code, § 63.19)