VOTED: that the Town, acting under the provisions of Article II of the Amendments to the Constitution of the Commonwealth of Massachusetts , commonly called the Home Rule Amendment, adopt the following bylaw regarding a parking meter revolving fund in the Town of Concord .
Section 1.
The Town of Concord hereby establishes in the Town Treasury an individual revolving fund (hereinafter called “Parking Meter Fund”) for its parking meter and traffic regulation operations. This Parking Meter Fund shall be kept separate from any monies or funds of the Town and shall be expended only for those purposes outlined below.
Section 2.
Fees shall be established and charged at such rates that the revenue from parking meters and parking meter fines shall not exceed in the aggregate the necessary expenses incurred for the acquisition, installation, replacement, maintenance and repair of parking meters and the regulations and enforcement of parking and other traffic activities incident thereto. The revenue from the fees will be credited to the Parking Meter Fund and the Town Manager shall have general authority to manage the Fund for its intended purposes.
Section 3.
This bylaw shall take effect upon its acceptance at a Town Meeting by a majority vote of the qualified voters of the Town present and voting thereon. The accumulated receipts of the meters for the preceding fiscal period will be retained and constitute the working capital to establish the Fund.
Section 4.
This bylaw supersedes any bylaw which is in conflict with it.
Article 65, Town Meeting, May 1975
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