The proceeds derived from the use of the parking meters or other similar mechanical devices, established pursuant to sections 19-2301 to 19-2304, shall be placed in the traffic and safety fund and shall be used by such city or village referred to in section 19-2301 (1) for the purpose of the acquisition, establishment, erection, maintenance, and operation of the system, (2) for the purpose of making the system effective, and (3) for the expenses incurred by and throughout such city or village in the regulation and limitation of vehicular parking, traffic relating to parking, traffic safety devices, signs, signals, markings, policing, lights, traffic surveys, and safety programs.