Section 11-47-11
Appropriations, etc., for promotion, etc., of municipal resources and for promotion of industry, etc., within municipality, etc.
In addition to all other powers which may be conferred on it by law, every incorporated city or town shall have the power to set aside, appropriate and use municipal funds or revenues for the purpose of developing, advertising and promoting the agricultural, mineral, timber, water, labor and all other resources of every kind within its police jurisdiction, and for the purpose of locating and promoting agricultural, industrial and manufacturing plants, factories and other industries within the municipality or elsewhere inside the county not more than 15 miles from the boundaries of the municipality.
(Acts 1961, Ex. Sess., No. 300, p. 2361.)