Sec. 7-205. Financing.
Sec. 7-205. Financing. Such parking authority or parking division, subject to the
specific authorization and approval of the legislative body, may finance the creation
and establishment of parking facilities by any one, or any combination, of the following
methods: (a) General obligation bonds, including such general obligation bonds as shall
mature at such time on a maturity schedule that will substantially equalize the payment
of principal and interest annually; (b) revenue bonds as provided in section 7-206; (c)
parking fees and special charges derived from the use of parking facilities; (d) general
fund appropriations; (e) parking meter revenues; or (f) gifts, bequests, devises, grants-in-aid or otherwise.
(1953, S. 283d; 1971, P.A. 604, S. 3.)
History: 1971 act included general obligation bonds with maturity schedules which equalize principal and interest
payments.