(A) The Board of Trustees shall have the following duties and responsibilities:
(1) To collect, preserve catalog, inventory, insure and maintain the works of art, records, art books and other materials of Roscoe Misselhorn;
(2) To operate, maintain and manage a gallery or art facility, to house the works of art of the Misselhorn collection and to enter into contracts for the use, operation and management of and expend funds therefor, and to adopt rules and regulations concerning the operation, management and use of the art facility, and the hours and days that the facility shall be open to the public; to recommend and advise the City Council as to land and/or buildings suitable for the gallery and art facility and to expend funds therefor as herein provided only upon prior approval of the City Council;
(3) To determine, in its judgment, if necessary, charges for admission and collect reasonable fees from the public for the privilege of admission into the art facility;
(4) To employ or enter into contracts for the employment of any person, firm or corporation, and for professional services necessary or desirable for the accomplishment of the objects of the art facility or to further promote the arts and art activities in the city;
(5) To maintain the gallery or art facility to promote the fine arts for the benefit of the inhabitants of the city and the public generally;
(6) To administer a scholarship program to be known and designated as the “Roscoe Misselhorn Art Scholarship”; and
(7) To elect annually the officers of the Board, including a Secretary and Treasurer who need not be members of the Board.
(B) The Board of Trustees shall annually on or before May 1 of each year hereafter submit to the City Council a budget, which the budget shall be in the usual and customary form of budgets, and City Council shall reserve the right to approve or accept the budget and the items as the City Council approves or may add thereto, shall be incorporated into the annual appropriation ordinance of the city.
(C) The Board of Trustees is further empowered to receive in trust from any person, firm or corporation gifts of art objects or loans of art objects or items for display in the gallery or art facility and shall have full power and authority to regulate the display of art objects or other works of art with the person so loaning or donating the items to the foundation.
(D) The Board of Trustees is further authorized and empowered to receive in trust, gifts, devises or bequests of money or property, either real, personal or mixed, as may be donated to the foundation. The Board of Trustees shall further establish a trust fund to be designated the “Misselhorn Foundation Trust Fund”. The city shall hold the principal of the trust fund in trust and shall expend the income only, which income shall be assigned and transferred to the Board of Trustees.
(E) The Board of Trustees is further authorized or required to perform the following duties and responsibilities:
(1) To expend other funds as may be from time to time received by the Board of Trustees by gift or otherwise; provided, any gift which is limited shall only be expended by them in accordance with the provisions of the gift so made; and
(2) To annually submit to the City Council a report of gifts or donations made to them and all other income received by the Board of Trustees and for what purposes expended, which said report shall be submitted along with the Board’s budget as herein provided.
(F) The Board of Trustees shall, as soon as possible after its organization, adopt by-laws in keeping with its duties and responsibilities as a Board of Trustees of the foundation, and as trustees of the funds to be placed under their control. The by-laws shall be submitted to the City Council for prior approval.
(G) The Board of Trustees shall hold an organizational meeting within 30 days after their appointment, upon the call of the Chairperson, the time and place to be set by the Chairperson and included in the call of the first meeting of the Board of Trustees.
(1994 Code, § 32.129) (Ord. 385, passed 9-11-1989)