{"data":{"id":"us-dc/d.c.-code-50-2510","jurisdiction":"us-dc","citation":"D.C. Code § 50-2510","heading":"Parking System Fund.","body":"(a)\nThere is established a special fund to be known as the Parking System Fund (“Fund”).\n\n(b)\nThe Authority shall administer the Fund.\n\n(c)\nThe monies deposited into the Fund shall not be a part of, nor lapse into, the General Fund of the District.\n\n(d)\nMonies in the Fund shall derive from the following sources:\n(1)\nAn administrative fee to be determined by the Authority and collected from each parking district which is based upon the administrative expenses associated with the specific parking district;\n(2)\nA system fee paid by each parking district to the Authority which is based on a percentage of the outstanding debt or a percentage of the total costs of operation or maintenance associated with the specific parking district;\n(3)\nProceeds from the sale of bonds issued by the Authority;\n(4)\nInterest earnings;\n(5)\nMonies made available by the District or other governmental entities;\n(6)\nParking fees collected by the Authority from the parking districts;\n(7)\nAd valorem taxes collected on behalf of the Authority; and\n(8)\nFederal grants, private monies, or other sources of monies for parking facilities.\n\n(e)\nThe Fund shall be used for the following purposes:\n(1)\nTo collect proceeds of operation from each parking district;\n(2)\nTo pay the principal, interest, redemption premiums, costs, fees, and penalties for borrowings of the Authority either when due or in anticipation of a shortfall in revenue in any funding source identified or pledged to any parking district;\n(3)\nTo make inter-fund loans to any 1 or more of the parking districts established pursuant to § 50-2511;\n(4)\nTo fund capital projects of the Authority including costs of acquiring property, developing, constructing, renovating, altering, maintaining, improving, repairing, or expanding any public parking facility; and\n(5)\nTo pay the administrative costs of the parking districts.\n\n(f)\nAfter the purposes described in subsection (e) of this section have been satisfied, funds may be held in a general purpose account as working capital repair and renovation reserve funds, or retained earnings.\n\n(g)\nThe Fund shall maintain separate accounts for each parking district to account fully for:\n(1)\nCash receipts and disbursements;\n(2)\nLoans to and from other parking districts in the parking system fund;\n(3)\nRevenue by source of revenue;\n(4)\nExpenses and expenditures by line item and purpose; and\n(5)\nRevenue and bond proceeds.\n\n(h)\nMonies in each separate parking district account shall derive from the following sources:\n(1)\nAny monies made available by the District or other governmental entity for specific application within a parking district;\n(2)\nAll parking fees collected by the Authority within a parking district;\n(3)\nAd valorem taxes collected on behalf of the Authority within a parking district; and\n(4)\nAll proceeds from the sale of bonds issued for public parking facilities within a parking district.\n\n(i)\nExcept as provided in § 50-2511(h), monies in each separate parking district account shall be used for the following purposes:\n(1)\nTo pay the principal, interest, redemption premiums, and other costs, fees, or penalties associated with debt service on facilities within a parking district;\n(2)\nTo establish and maintain debt service reserve funds;\n(3)\nTo pay the costs associated with the development of, land acquisition for, and construction of capital improvements to existing and future public parking facilities located within a parking district;\n(4)\nTo pay the costs of repairing and renovating public parking facilities within a parking district;\n(5)\nTo pay the costs of administering, operating, and maintaining facilities located within a parking district; and\n(6)\nTo pay the administrative and system fees as determined by the Authority to the Fund.\n\n(j)\nAnnual financial statements for the Fund shall be prepared and submitted to the Mayor and the Council.","path":["Title 50. Motor and Non-Motor Vehicles and Traffic.","Chapter 25. Public Parking Authority."],"source_url":"https://code.dccouncil.gov/us/dc/council/code/sections/50-2510","current_through":"2026-08-20 (D.C. Law 26-175)","vintage":"","retrieved_at":"2026-08-29T05:44:07Z","sha256":"d4d89191fb3d4c19111a5fdfd7ea4e6fe890d6ab5ab643e6b71a39867730753e","source_id":"us-dc","stale":false,"prev":"us-dc/d.c.-code-50-2509","next":"us-dc/d.c.-code-50-2511"},"notice":"GroundRules: Original legal text. Not legal advice."}