No municipality shall have the power to pay out of its general fund or otherwise contribute any part of the costs of a project and shall not have the power to use land already owned by the municipality, or in which the municipality has an equity, unless specifically acquired for development of projects, or unless the land is determined by the municipal governing body to no longer be necessary for municipal purposes other than the project, for the construction thereon of a project or any part thereof. The entire cost of any project must be paid out of the proceeds from the sale of bonds issued under the authority of this chapter, but this provision shall not be construed to prevent a municipality from accepting donations of property to be used as a part of any project or money to be used for defraying any part of the cost of any project.
[C66, 71, 73, 75, 77, 79, 81, § 419.8]
Referred to in § 419.17
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