4723 - 51 Establish Parking Meter Fund

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ORD~uE Ho, 4.72.,'3 BY Mr, Fahrenhach AN ~ERGENCY ORDINANCE establishing a special, separate and permanent Fund to be known and referred to as the sparking Meter Fund" and providing for payment directl~ into said SParking Meter Funds of monies derived from the opera- tion of parking meters on the public streets as here~-~ter more specifically pro- vided. ~HE~EA~, Ordinance Mo. 46~7 provided fo~ the creation of parking meter Sones, the installation, operation and ~mintenance of parking ~eters therein and provided for the regulation of parking meters when installedI and WHEREAS, thereafter pursuant to Resolution No. 34~O She City advertised for bids for the leasing, purchasing and installation of p~rking meters resulting in an agreement fOr ~uch purposes Under authority cf Ordinance Mo. 4714, the in- stellation and the placing in m~-vlce of such meters beginning on or about January 29, 19~1; · HEB~A$, Oeneral Code of Ohio, Section ~62~-11 provides for the astab- lie~nent of necessary and desirable funds by the taxing authority with the approval of the Bureau of Inspection and Supervision of Public Offices{ and ~,AS, an emergency exists in that f~s are being received from the operation of said parking meters necessitating t~mediate provisions for the re- ceipt, treatment and disbursement of said funds and in order to provide f~r the usual daily operation of a ~nicipal department, now, therefore, BE IT ORDAINED BY T~E COUNCIL OF THE CITY OF LAI~EWOOD, STATE OF OHIO~ Section 1. That in addition to all other funds now existing, there is hereby established a special, separate and permanent fund ~hich shall be known and referred to as the "Parking Meter Fund". The Director of Finance of the City of Lakewood is hereby authorised end directed f~rthwith to take such action and to make such records as may Be necessary to establish said ~Parking Meter Fund" and thereafter to show its existence and condition at all times upon the proper records of the City. Section 2. That there shall be paid directly into said sparking Meter Fund, when and as received~ all income f~om parking meter operation. The #Parking Meter Fund. shall be used only to defray the expense of regulation of traffic t~on the public streets of the City of LaMewood; to pay the cost of supervision, regula- tion and control of the parking of vehicles in parking me%er sones; to pay the cost of leasing, purchasing, supervision, protection~ inspection, installation, operation, maintenance, control and use of parking meters; and to pay the cost~ when authorised by resolution er ordinance of Council, of acquir~-~ and developing off-street park- ing areas. Section 3. The Director of Finance shall have possession and custo~ of said SParking Meter Funds and the supervision of all accounts with respect thereto. No further bond shall he required of the Director of Finance because of said £~nd but said SParking Meter Fund. shall be under the protection of an~ bond heretofore given or that may bo given by the Director of Finance. Section 4, On or as soon after July 15th as is possible in each year, or upon request by the Council, the Director of Finance shall transmit to Council for inclusion in the budget, the a~ount of income expected from parking meter operation during the next following year, the a~unt expected to be required for the making cf necessary repairs, the purchase of replacement or additional parking meters and such other and further information with respect to said "Parking Meter Fund. and expected expenditures therefrom as may be requested by Council or required by statute or ordinance, Section .~, The Director of Finance is hereby authorized and d~rected on Behalf of the City ef Lakewood to make application to the Bureau ef Inspection and Supervision of Public Offices for its approval of the establishment of said ~parking Meter Fund" and to forward to said Bureau, a copy of this o~iinance, Conditioned