§ 26-163. Disposition of funds derived from meters.
Latest version.
The moneys required to be deposited in parking meters as provided herein are hereby
levied and assessed as fees for the sole purpose of providing for the cost of proper
supervision and regulation of parking vehicles in the parking meter zones, and to
cover the cost of purchase, supervision, protection, inspection, installation, operation,
maintenance, control and use of parking meters described herein, and repairs and painting
of signs on streets adjacent thereto. All moneys so received shall be used to pay
cost of operation and supervision, with any balance to be used to pay principal and
interest of municipal parking revenue bonds, in accordance with the provisions of
the resolution authorizing same. In the event no municipal parking revenue bonds are
outstanding, moneys received from meters north of Sunrise Boulevard on AIA (Lauderdale
Beach Boulevard) may be earmarked for other purposes, as determined by the city commission.
(Ord. No.
C-14-50
, § 1, 12-17-14)
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