12-4907.   Home for the aged fund, established; use of fund.All moneys received from the sale of the revenue bonds herein authorized,together with all moneys received by donation, gift, bequest or otherwise,shall be placed by the city in a special fund which shall be known as the"home for the aged fund" the fund may be used for thepurpose of establishing or acquiring a home for the aged or for thepayment of existing debt on an acquired home as in this actprovided. Whenever sufficient moneys are available in thefund, the governing body of the city may proceed to acquirethe site by gift or purchase and let the contract for such building orbuildings and the equipment therefor or to acquire by gift or purchase anexisting adult care home to be used as a home for the aged. No buildingshall be erected or constructed until the plans and specifications havebeen made therefor and adopted by the governing body of the city and bidsadvertised for according to law as for other city buildings.

      History:   L. 1965, ch. 146, § 7; L. 1986, ch. 85, § 7; April 24.