Pomona Municipal Code § 58-412 Disposition of parking meter revenues

There is hereby established a fund to be known as the offstreet parking and traffic control fund of the city, referred to in this division as "the fund."

(Code 1959, § 32-19.36; Ord. No. 1268, § 1; Ord. No. 3216, § 2 (part))

All revenues from parking meters located on streets within the city shall be deposited in the offstreet parking and traffic control fund.

(Code 1959, § 32-19.37; Ord. No. 1268, § 2; Ord. No. 3216, § 2 (part))

Quarterly or at such intervals as the council may designate, amounts representing the cost for maintenance, operation, and capital improvements or replacement of the parking meters shall be transferred from the offstreet parking and traffic control fund and deposited in the respective fund from which the original expenditure was made. Such transfers shall be made only after authorization by the city council after a verified statement of expenditures is submitted by the director of finance, providing that other sums may be withdrawn by authorization of the council for traffic control.

(Code 1959, § 32-19.38; Ord. No. 1268, § 3; Ord. No. 3216, § 2 (part))

The net revenue remaining in the offstreet parking and traffic control fund at the end of each fiscal year after withdrawals and transfers, as set forth in section 58-413, shall be apportioned to the various vehicle parking districts. Such apportionments to each vehicle parking district in any year shall be measured by the net amount available in the fund multiplied by the ratio between the total assessments levied in any one district and the total combined assessment for all districts. The amount of assessment in a vehicle parking district to be used is the denominator of the formula in this section only so long as the amount of the assessment in a district has not been equalled by apportionments from the fund. Amounts so apportioned to vehicle parking districts shall be used solely for the acquisition, improvement, enlargement, lease or operation of municipal offstreet parking lots.

(Code 1959, § 32-19.39; Ord. No. 1268, § 4; Ord. No. 3216, § 2 (part))

When all assessments levied against property within the several vehicle parking districts have been equalled by amounts apportioned by the council from the offstreet parking and traffic control fund, such net revenues accruing shall be transferred to the general fund of the city.

(Code 1959, § 32-19.40; Ord. No. 1268, § 5; Ord. No. 3216, § 2 (part))

Nothing contained in this division shall prohibit the transfer or loan of funds between the established vehicle parking districts.

(Code 1959, § 32-19.41; Ord. No. 1268, § 6; Ord. No. 3216, § 2 (part))

The city treasurer shall keep an accurate account of the offstreet parking and traffic control fund and shall report deposits and withdrawals and the condition of the fund at such intervals as deemed necessary by the city council.

(Code 1959, § 32-19.42; Ord. No. 1268, § 7; Ord. No. 3216, § 2 (part))