There is created and established in the department of finance of the city of Vancouver a fund to be known as the "equipment rental fund," to be used as a revolving fund to be expended for salaries, wages, and operations required for the repair, replacement, purchase and operation of motor vehicle equipment, and for the purchase of all equipment, materials and supplies to be used in the administration and operation of said fund. The operations noted above shall be hereinafter referred to as the motor pool. (Ord. M-695 §1, 1963.)