For the purpose of aiding and cooperating in the planning, undertaking, construction, or operation of airports under this chapter, any municipality for which an authority has been created may, with or without consideration: 1. Lend or donate money to the authority. 2. Provide that all revenues received by the municipality for airport purposes, be transferred, paid, or credited to an airport authority fund. The city auditor or county treasurer may establish and maintain the fund to account for airport authority revenues and shall make payments from the fund for invoices submitted and approved by the governing body of the airport authority. On request of the city auditor or county treasurer and during an audit, the governing board of the airport authority shall supply its records on a timely basis. The fund may not revert to the governing body of the municipality at the end of any fiscal year. The fund must be used exclusively for the establishment and maintenance of airport facilities. 3. Cause water, sewer, or drainage facilities, or any other facilities that it is empowered to provide, to be furnished adjacent to or in connection with airports. 4. Dedicate, sell, convey, or lease any of its interest in any property, or grant easements, licenses, or any other rights or privileges in the property to the authority. 5. Furnish, dedicate, close, pave, install, grade, regrade, plan or replan streets, roads, roadways, and walks from established streets or roads to airports. 6. Do all things not prohibited by law, necessary or convenient to aid and cooperate with the authority in the planning, undertaking, construction, or operation of airports. 7. Enter agreements with the authority respecting action to be taken by the municipality under this section.
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