All motor vehicle and other outside portable equipment of the various divisions and departments of the city shall be transferred to the equipment rental fund as directed by the finance director.

The charges for the rental for the use of equipment shall be sufficient to cover the maintenance, operation and replacement of such equipment, and the terms for the rental thereof shall be on an annual, monthly, daily or hourly basis as determined by the finance director. A schedule of such charges shall be prepared by the finance director, subject to the approval of the city council. Such rental rates may be reviewed and if needed, be revised at least annually, to meet changing costs of maintenance, operation and replacement. (Ord. 1021 §21, 1995; Ord. 223 §1 (part), 1971).