3-141.   Same; disposition of moneys.If the governing body of any city shall sell a municipal airport ormunicipal field for aviation purposes as herein provided, the proceeds fromsaid sale shall be deposited in a special airport fund, and said city mayuse said proceeds from said sale at any time within five years from thedate of said sale to purchase land for another municipal airport ormunicipal field for aviation purposes, but if another municipal airport ormunicipal field for aviation purposes is not purchased within said fiveyears' time, then said proceeds from said sale shall be deposited in asinking fund, to be used to retire any unretired airport or airfield bondsoriginally issued by said city, in such proportion or manner as thegoverning body shall by resolution direct. If there are no unretiredairport or airfield bonds of said city, then said funds shall be placed inthe general fund of said city.

      History:   L. 1943, ch. 7, § 3; March 13.