[Ord. No. 3164, 10-16-2017]
The construction, improvement, equipment, maintenance, and operation of the Malden Regional Airport and the sale, leasing, or letting of all real property or buildings owned by the City of Malden comprising the Malden Regional Airport is vested in the City Council of the City of Malden. The airport facilities shall be operated and maintained in accordance with applicable rules and regulations of the Federal Aviation Agency and any agreements in effect with the Federal Aviation Agency as the representative of the United States of America.
[Ord. No. 3164, 10-16-2017]
The City Council may, from time to time, vest such duties for the operation and/or maintenance of the Malden Regional Airport and all real property adjacent thereto owned by the City of Malden in such officers, employees, or board and under such standards and supervision as the City Council deems suitable.
[Ord. No. 3164, 10-16-2017]
All revenues derived from the sale, leasing, letting, or operation of properties, facilities, or services comprising the Malden Regional Airport shall be paid to the City Treasurer and designated as the "Airport Fund." Said funds shall only be disbursed for the operation, maintenance, or development of the Malden Regional Airport pursuant to applicable Federal Aviation Administration orders, policies, and procedures. The City Treasurer shall provide the City Council with a monthly report of receipts and disbursements, and an annual report showing money received by the Board, the source from whom received and a detailed itemized statement of all money expended, to whom paid, and for what purposes.