Section 14-301 Rental of on-street metered parking space to banks and savings and loans.

On-street metered parking spaces shall be available for rental to banks and savings and loans on any street in the central business district, except Broadway, subject to the following conditions:

(1) Metered parking spaces shall be available under the provisions of this section only to banks and savings and loans chartered under the laws of the United States Government or the State of Missouri.

(2) Banks and savings and loans desiring such parking spaces shall make application to the director of public works who shall issue a permit designating the location and rental rate of the parking spaces.

(3) A maximum of six (6) on-street metered parking spaces may be rented by any one (1) bank or savings and loan when such spaces are available on streets immediately adjacent to and on the same side of the streets as the bank or savings and loan.

(4) Banks and savings and loans renting such parking spaces shall pay five hundred twenty dollars ($520.00) per space per year.

(5) Banks and savings and loans renting such parking spaces shall place hoods on the parking meters at such parking spaces which shall provide that the spaces are paid for by the banks or savings and loans and shall designate the applicable parking restrictions. Parking may be restricted only during the hours of 8:00 a.m. to 6:00 p.m. weekdays, and from 8:00 a.m. to noon on Saturdays. The hoods shall designate the hours of parking restrictions, and shall be removed from the meters during all other hours.

(6) The City of Columbia shall not be responsible for enforcing parking restrictions during the times the spaces are rented to banks or savings and loans under this section.

(7) Spaces rented to banks or savings and loans under this section may be withdrawn by the city manager upon twenty-four (24) hours' notice to the banks or savings and loans which have rented such parking spaces; provided, however, that such banks or savings and loans shall be entitled to a pro rata refund of any prepaid rent.