The revenues obtained by a municipality from the ownership, control or operation of any airport or air navigation facility, including proceeds from the sale of any airport or portion thereof or air navigation facility property, shall be deposited in a special fund to be designated the ".............................. airport fund," which revenues shall be appropriated solely to, and used by the municipality for, the purposes authorized by this chapter.
[16:215:1947; 1943 NCL § 293.35]