The charges of rental of such equipment shall be sufficient to cover the repair, replacement, purchase and operation thereof, and the terms of rental shall be on annual, monthly, daily, hourly, mileage or other basis as determined by the City Manager or designee. A schedule of such charges shall be prepared by the Director of Finance. Such rental funds shall be reviewed, and if need to be revised, periodically to meet changing costs of repair, replacement, purchase and operation. [Ord. 3557 § 49, 2002; Ord. 2514 § 1, 1984; Code 1970 § 3.68.040; Code 1954 § 2-17.110.]