The City Council may establish, by resolution from time to time, permit parking spaces in the City off-street parking lots, on Municipal Wharf No. 2, or on other City-owned property. When authorized signs are in place giving notice thereof no person shall stop, stand or park a vehicle in any such space unless such person has displayed a valid, unexpired permit parking sticker in the lower right-hand corner of the front windshield of such vehicle. The resolution shall set the monthly or quarterly charge for such permit parking and all permit parking receipts derived from off-street parking lots, or derived from parking meters purchased from the parking fund, shall be credited to the parking fund. All other receipts shall be credited to the fund designated in the resolution of the City Council which establishes the particular permit parking spaces.