I love this type of thing as a way to promote the use of green technology in city cores. With GPS you could totally apply the same idea to scooters, Segways, or (let’s scare the insurance companies) cars. I won’t rest until I can take a horse for a gallop around town though! 
That load on your lawn, that was me 
Wired News: A P2P Network for Bikes
The rent-a-bike scheme, called Vélo’v Grand Lyon, is open to anyone armed with a credit card. It costs 1 euro ($1.20) an hour, but there is no charge for the first 30 minutes. Since 90 percent of trips take less than half an hour, most subscribers pay nothing.