349.012. The governing body shall have the power to spendits funds to promote commercial and industrial development and,in order to achieve such promotion, to engage in any activities,either on its own or in conjunction and by contract with any notfor profit organization, which it deems necessary to carry onsuch promotional work.
(L. 1980 H.B. 1582 & 1277, A.L. 1991 S.B. 246)