The city may make an annual or more often appropriation from its general funds for such industrial, business, and commercial development. Any appropriation shall be made by the City Council in such amounts, in such proportion, and upon such terms as the legislative body may determine. All funds derived from such appropriations shall be turned over to the Authority for the purpose of carrying out the duties and powers of the Authority, however, the city may specifically designate the purpose or purposes for which the appropriation shall be used by the Authority and, in such event, the Authority shall be limited to such specific designation with regard to the use of such appropriated funds.
(Ord. 17-07, passed 3-27-17)