(A) Gifts, grants, endowments and other financial aid given to the Museum by public or private sources shall be administered according to the terms specified by the donor.
(B) All money described in division (A) of this section shall be deposited in the Museum Trust and Agency Account, an account of the city, unless the donor requests otherwise. Property described in division (A) of this section, which is not either money or property appropriate for the Museum collection as defined by Board policy, shall be administered by the Museum Foundation, unless the donor requests otherwise; in this role, the Museum Foundation shall act as trustee for the city, and title shall vest in the city. Sections 10-4-1-1 et seq. shall not bar the Museum Foundation from owning property specifically given or sold to the Foundation.
(C) All funds which the donor requests to be deposited in the Museum Trust and Agency Account shall be invested as part of the established city investment program, unless a specific fund is to be used immediately and the Director requests other use or deposit. Proceeds from these investments shall be credited to the Museum Trust and Agency Account and are not to be substituted for public funds in determining the financing of the Museum by the city.
(D) The Director is empowered to expend funds from the Museum Trust and Agency Account in accordance with applicable city practices.
('74 Code, § 11-4-8) (Ord. 92- 1967; Am. Ord. 18-1985; Am. Ord. 2020-039)