A. 
Each department of the city shall pay into the equipment replacement fund a sum of money, as determined by the director of finance, as rental for each piece of equipment placed under such replacement program. The rental shall be based on the anticipated life of the particular unit of equipment, or the anticipated replacement cost and the maintenance and replacement cost, whichever is deemed applicable to the particular piece of equipment.
B. 
The rental rates shall be reviewed annually by the director of finance, and a statement shall be forwarded to each department, setting forth any changes in rental rates from previous statements, to be effective for the next fiscal year. In the event a single piece of equipment is used by more than one department, the rental therefor shall be prorated among the departments using such unit of equipment.
(Prior code § 2505.1)
A. 
All rental and other moneys deposited in the equipment replacement fund shall be withdrawn from the fund only upon warrant drawn and approved in the normal manner. Expenditures from this fund shall be expended only for the purpose of purchasing equipment to replace equipment on which a rental has been paid into the fund, or from the repair of same, when the cost of such repairs has been included in the basis of the rental rate.
B. 
No expenditures or transfers shall be made from said fund except those expenditures or transfers expressly authorized by the city council, and any moneys deposited in the fund shall not be withdrawn except for the express purposes provided herein.
(Prior code § 2505.2)