The functions authorized by this section may be exercised as necessary or appropriate to improve efficiency and maximize revenues, subject, however, to the limitations of applicable State and local laws and existing contractual obligations of the City. Subject to the limitations specified in subsection (a) of this section, the City and the Authority may contract for the Authority’s undertaking any 1 or more of the following functions:operation of 1 or more parking projects owned or controlled by the City; installation and maintenance of City parking meters; enforcement of City parking ordinances and regulations; and otherwise managing part or all of the City’s parking operations. At least 45 days before it assumes any new function or any new part of a function under this section, the Authority must submit a written management and operations plan to the City Council and the Board of Estimates. As long as the Authority is performing any function under this section, the Authority must submit an annual written report to the City Council and the Board of Estimates on its management and operations under this section. Ord. 00-071