The Planning and Zoning Commission shall make and adopt a plan for the physical development of the City. The City Plan, with the accompanying maps, plats, charts and descriptive and explanatory matter, shall show the Commission's recommendations for the physical development and uses of land, and may include, among other things, the general location, character and extent of streets and other public ways, grounds, places and spaces; the general location and extent of public utilities and terminals, whether publicly or privately owned, the acceptance, widening, removal, extension, relocation, narrowing, vacation, abandonment or change of use of any of the foregoing; the general character, extent and layout of the replanning of blighted districts and slum areas.

In the preparation of the City Plan, the Planning and Zoning Commission shall make careful and comprehensive surveys and studies of the existing conditions and probable future growth of the City. The City Plan shall be made with the purpose of guiding and accomplishing a coordinated development of the City which will, in accordance with existing and future needs, best promote the general welfare, as well as efficiency and economy in the process of development.

The Planning and Zoning Commission may adopt the City Plan as a whole by a single resolution or, as the work of making the whole City Plan progresses, may from time to time adopt a part or parts thereof, any part to correspond generally with one (1) or more of the functional subdivisions of the subject matter of the plan. Before the adoption, amendment or extension of the plan or portion thereof, the Planning and Zoning Commission shall hold at least one (1) public hearing thereon. Fifteen (15) days' notice of the time and place of such hearing shall be published in at least one (1) newspaper having general circulation within the City. The hearing may be adjourned from time to time. The adoption of the plan requires a majority vote of the full membership of the Planning and Zoning Commission. The resolution shall refer expressly to the maps, descriptive matter and other matters intended by the Commission to form the whole or part of the City Plan and the action taken shall be recorded on the adopted plan or part thereof by the identifying signature of the Secretary of the Commission, and filed in the office of the Commission, identified properly by file number, and a copy of the plan or part thereof shall be certified to the City Council and the City Clerk, and a copy shall be available in the office of the County Recorder of Deeds and shall be available at the Municipal Clerk's office for public inspection during normal business hours.