ATLANTA -- City officials say thieves this year have stolen more than 500 parking meters in the downtown area.

Sandra Jennings, the deputy commissioner for the city's transportation office, says thieves cut the posts of the parking meters and carry them away for the cash.

"The capacity is about $30 to $40. Ours are rarely full because we go out and collect the mony every few days," Jennings said.

Jennings says although the meters do not hold much money, it costs the city $500 to replace each meter.

The thefts represent about 39 percent of the total number of parking meters in the city.

The city is replacing the stolen meters with more secure ones and will install more multi-space meters.

Jennings doesn't expect those to be stolen.

"They are like an armored truck or a vault, they're very heavy," she said.

Jennings says the city does not file police reports on the stolen meters.

Atlanta police say the thefts that are not reported are not investigated.