The Fund is hereby created for the purpose of investing all moneys received by the city pursuant to the Peabody Coal Company annexation agreement in income producing obligations permitted under the laws of the state, as hereinafter provided, and to use the income only received therefrom for financing municipal services, facilities or activities as is now or may hereafter be authorized by the municipal code of the state, including, but not limited to, the following:
(A) To provide, improve, maintain and construct fire and police facilities and services, health, safety and welfare services; streets and public thoroughfares, water and sewer lines, systems and plants;
(B) To acquire, purchase, own, construct, lease, repair, reconstruct, equip and maintain municipal and community buildings;
(C) To promote, operate and maintain expositions, conventions, theatrical, sports and cultural activities;
(D) To develop off-street parking and other improvements for the business district of the city;
(E) To provide funds for industrial development;
(F) To arrange, finance and maintain industrial, cultural, educational, trade and scientific exhibits;
(G) To provide funds for the engineering, architectural, planning and development of plans and programs for the growth of the city;
(H) To provide funds for the acquisition of sites for municipal activities;
(I) To promote, arrange, acquire and maintain sites, artifacts, exhibits, books and materials for museum and library buildings and facilities;
(J) To promote, arrange, acquire and maintain projects, sites, buildings and facilities for the younger residents of the city;
(K) To promote, arrange, acquire and maintain projects, sites, buildings and facilities for the elderly residents of the city;
(L) To promote, arrange, acquire and maintain sites, buildings and facilities for recreational and park purposes, health care centers, day care centers, hospital and medical centers; and
(M) To promote, arrange, maintain and finance activities and facilities in general, which will engender the health, prosperity, moral and well-being of the residents of the city.
(1994 Code, § 36.13) (Ord. 292, passed 4-10-1979)