The City Traffic Engineer shall install, remove and maintain parking meters on any City streets and highways, including City owned or leased lots, as required to regulate the efficient turnover of parking, and to facilitate the orderly flow of traffic. Such installations shall be based upon a traffic engineering investigation to determine days and hours of operation and maximum continuous parking time permitted. The City Traffic Engineer shall maintain current records of the locations and time limits of such meters, a copy of which shall be kept on file with the City Clerk. (Code 1962, § 37-3.20)