§ 12.04.070. Parking fund.

There is a parking fund. All revenues from fines, fees or other charges related to parking in or on City-owned parking garages, spaces and lots shall be deposited in the parking fund. Moneys in the parking fund shall be used for the operation of the City's parking garages, spaces and lots. In addition, moneys in the parking fund may be used for capital improvements to the City's parking garages, spaces and lots, and may be pledged to repay debt issued for those capital improvements.

In any fiscal year that the parking fund revenue exceeds both the amounts required for the operation of the City's parking garages, spaces and lots, and the debt service to which parking revenues are pledged, the City Council may, in the annual budget ordinance, transfer and appropriate such excess revenue for any other lawful City purpose, including but not limited to transit operations, other City operations or capital improvements.

(Ord. O-55-06 Amended § 1 (part), 2007)

(Ord. No. O-21-18, § I, 9-24-2018)