Title
Parking Fund - Appropriations - For the purpose of authorizing the City Council to appropriate any excess revenue from the Parking Fund for any lawful City purpose during the annual budget process.
Body
CITY COUNCIL OF THE
City of Annapolis
Ordinance 21-18
Introduced by: Mayor Buckley
Referred to
Finance Committee
AN ORDINANCE concerning
Parking Fund - Appropriations
FOR the purpose of authorizing the City Council to appropriate any excess revenue from the Parking Fund for any lawful City purpose during the annual budget process.
BY repealing and re-enacting with amendments the following portions of the Code of the City of Annapolis, 2018 Edition
12.04.070
SECTION I: BE IT ESTABLISHED AND ORDAINED BY THE ANNAPOLIS CITY COUNCIL that the Code of the City of Annapolis shall be amended to read as follows:
TITLE 12 - VEHICLES AND TRAFFIC
Chapter 12.04 - GENERAL PROVISIONS
Section 12.04.070 - Parking fund.
There is a Parking Fund. All revenues which accrue from fines, fees or other charges related to parking and which are not otherwise pledged to debt service or dedicated to the operation of the City's parking garages or lotsin or on City-owned parking garages, spaces and lots shall be deposited in the Parking Fund. In the annual operating and capital budgets, as submitted to the Council by the Mayor, money in the Parking Fund may only be appropriated for parking-related expenses, including transportation to and from satellite lots and enforcement. 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.
SECTION II: AND BE IT FURTHER ESTABLISHED AND ORDAINED BY THE ANNAPOLIS CITY COUNCIL that this ordinance shall take effect from the date of its passage.
EXPLANATION
Underlining indicates matter added to existing law.
Strikethrough indicates matter stricken from existing law.
[Brackets] indicate amendments.