All proceeds from the tax collected under this chapter shall be paid into the Project Resource Fund. Said fund shall be used for the purposes of purchasing land, constructing buildings and improvements, and purchasing machinery, equipment and other capital-type facilities with which the city may develop, improve and expand public parks, recreational facilities, public services, police and fire protection, public utilities, water and the treatment and disposal of sanitary sewage, or may be transferred to any other fund to accomplish these purposes. In expending said fund for said purposes, the city may act alone or may exercise its powers jointly with any other public entity to accomplish any of the foregoing purposes for the benefit of the whole, or any portion, of the city.
(`83 Code, § 3.32.050)