(1) When a vehicle displaying a current and valid contractor parking permit is being used for contractor service, the driver may park without limitation as to time and without payment of any parking meter fees on streets where parking is limited as to time but not prohibited, and may park in a loading zone for specified periods of time. The Authority may limit the locations where Contractor Parking Permits will be honored.

(2) Each Contractor Parking Permit shall be issued or renewed for one particular vehicle, shall be valid for one (1) year, and may not be transferred.

(3) Contractor Parking Permits shall be issued and renewed by the Authority. A person requesting issuance or renewal of a Contractor Parking Permit shall make written application to the Authority upon forms supplied by the Authority. The Authority shall approve the application if it determines that the Contractor Parking Permit is being requested for a contractor vehicle which is used for contractor service, and if it finds that there are not three (3) or more unpaid parking violation fines imposed for the vehicle, or any unpaid taxes or fees due the City of Philadelphia, unless the applicant has entered into a payment agreement with the Authority and/or the City for such unpaid fines, taxes or fees. Upon approval of the application and payment of a fee of one hundred twenty-five (125) dollars, the Authority shall issue or renew the Contractor Parking Permit.

(4) Replacement permits may be issued, upon surrender of the old permit, when a vehicle is taken out of service and replaced with a new vehicle, for the remainder of the life of the permit, at no additional charge.

(5) Contractor Parking Permits may be issued to municipal and monopoly utilities at no charge.