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The Board of Trustees of the Fine Arts Museums of San Francisco is hereby authorized to accept gifts, devises and bequests of objects of art or other articles to the M. H. de Young Memorial Museum, the California Palace of the Legion of Honor or the Fine Arts Museums solely for exhibition purposes when the acceptance of the same entails no expense on the part of the board beyond the ordinary care and maintenance of such objects of art or other articles.
All gifts, devises and bequests of objects of art or other articles heretofore made to the aforesaid museums which entail no expense beyond the ordinary care and maintenance thereof for exhibition purposes are hereby accepted for the purposes for which they have been given.
Nothing in this Section shall be considered to approve or ratify the acceptance in the past or in the future of any gift, devise or bequest made to the aforesaid museums, the administration of which gifts, devises or bequests entails any expense beyond the care and maintenance of the objects of such gifts, devises or bequests for exhibition purposes.
(Amended by Ord. 295-74, App. 6/12/74; Ord. 24-00, File No. 992319, App. 2/25/2000)
When, in the judgment of the Board of Trustees of the Fine Arts Museums of San Francisco, works of art or other articles in the possession of the museums are no longer fit for exhibition purposes in said museums, such works of art or other articles may be sold, exchanged or transferred as hereinafter set forth. Such works of art or other articles to be sold, exchanged or transferred shall be catalogued, listed and described with reasonable certainty.
(Added by Ord. 144-64, App. 5/27/64; amended by Ord. 347-89, App. 10/4/89; Ord. 24-00, File No. 992319, App. 2/25/2000)
The Board of Trustees may exchange such works of art or other articles for other works of art or other articles of equivalent value. The said Trustees may execute and accept all deeds of conveyance necessary and proper to effect such exchange.
(Added by Ord. 144-64, App. 5/27/64; amended by Ord. 347-89, App. 10/4/89; Ord. 24-00, File No. 992319, App. 2/25/2000)
The said Trustees may cause said works of art or other articles to be sold at public auction to the highest and best bidder, and may contract with a licensed auctioneer for the purpose of conducting the sale or sales. The contract shall specify the compensation to be paid for the auctioneer's services and set forth the terms and conditions under which the sale or sales are to be conducted.
(Added by Ord. 144-64, App. 5/27/64; amended by Ord. 24-00, File No. 992319, App. 2/25/2000)
Should no bids be received, or if bids are received and rejected as unsatisfactory, or if the high bid fails for reasons beyond the control of the trustees, the work of art or other article may thereafter be sold by private sale by the Trustees; provided, that works of art or other articles on which bids have been rejected shall not thereafter be sold for amounts less than the amount the Trustees would have realized on the highest responsible bid.
(Added by Ord. 144-64, App. 5/27/64; amended by Ord. 24-00, File No. 992319, App. 2/25/2000)
The Trustees may sell works of art or other articles through the museum's store, at a fundraising event, or a similar publicly-accessible venue when the Trustees determine, based upon reasonable independent information, that such sale is likely to realize a market value greater than what is expected at public auction.
(Added by Ord. 24-00, File No. 992319, App. 2/25/2000)
All moneys received from the sale of any work of art or other article sold pursuant to the provisions of this Article shall be placed in the trust fund of the Fine Arts Museums of San Francisco. Deposits in said trust fund shall be under the jurisdiction of the Board of Trustees. Said deposits in said trust fund shall be used for the purchase of other works of art and other articles to be exhibited in the Fine Arts Museums of San Francisco.
(Added by Ord. 144-64, App. 5/27/64; amended by Ord. 347-89, App. 10/4/89; Ord. 24-00, File No. 992319, App. 2/25/2000)
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