There is hereby created a fund to be known as the Development Fund, which Fund shall be used for the purposes of financing economic development activity related to die attraction, location and retention of industrial, manufacturing and commercial employers to the City. The Fund shall consist of sums of money as may hereafter be appropriated and provided by the City, and of all rentals, interest, incomes, dividends, earnings and avails, from the sale, lease, conveyance or other disposition of any property acquired pursuant to the powers previously exercised by the Fairfield Area Development Commission or in die future by any all activities of the City for which the Development Fund may be used and other sums as may by law be provided for those purposes.
(Ord. 20-0114-193, passed 1-14-2020)