Money to pay the cost of construction and operation of parking facilities may be:

1. (1) accepted as a donation;
2. (2) appropriated from the general fund or from any fund derived from parking revenues;
3. (3) provided by the issuance and sale of general obligation bonds of the municipality;
4. (4) provided by the issuance and sale of bonds payable solely from revenues derived from parking facilities, parking meters, or parking mechanisms, as provided by section 16 of this chapter; or

5. (5) provided by any combination of these methods.

   The issuance of general obligation bonds and the appropriation of funds raised by taxation must comply with the applicable general statutes.

   [Pre-Local Government Recodification Citations: 19-5-11-2 part; 19-5-13-3 part.]

   As added by Acts 1981, P.L.309, SEC.84.