There is established an industrial park development fund bearing the name City of Austin Industrial Park Development Fund which fund shall be maintained by the city for the following purposes:
(A) To obtain gifts, grants, and donations;
(B) To promote new industries and better housing;
(C) To purchase and sell real property for industrial development or housing development;
(D) To advertise and market the city for new industry or new housing; and
(E) To develop infrastructure, streets, sewers, and storm sewers for the improvement of the health and welfare of the citizens of the city.
(Ord. 1998-01, passed 2-11-1998)