(A) Establishment for donated property. When a deed of gift, devise, or bequest of property or funds to the municipality for park purposes requires the investment or change of investment of the principal of such property or funds, or any part thereof, to be made upon the approval of an advisory committee appointed by a court or judge, or an advisory committee appointed by a civic organization of the municipality, or by the Legislative Authority, then such property or funds, and any park for the improvement of which, in whole or in part, such funds are to be used, or any property for the care or management of which, in whole or in part, such funds are to be used, shall be managed, controlled and administered by a Board of Park Trustees.
(R.C. § 755.20)
(B) Membership. The Board of Park Trustees mentioned in division (A) of this section shall consist of four resident electors of the municipality who shall be appointed by the Mayor and who shall serve without compensation for the term of four years. The Park Trustees shall be appointed in the first instance to serve for one, two, three and four years, respectively, and thereafter their successors shall be appointed one each year to serve for the term of four years, but not more than two shall be of the same political party. A vacancy in the Board caused by death, resignation or otherwise shall be filled in like manner for the remainder of the term.
(R.C. § 755.21)
(C) Powers.
(1) The Board of Park Trustees shall have the entire management and control of any property or funds acquired as provided in R.C. § 755.19, all improvements within any such park, moneys derived from levies made for park purposes, moneys from the General Fund appropriated by the Legislative Authority for such purposes, proceeds of bonds issued or sold for park purposes, moneys or other property donated to the municipality for park purposes, and all other park property legally acquired. All such moneys shall be placed in a special fund called the “Park Fund” and shall be disbursed by the Fiscal Officer only upon a warrant of the Fiscal Officer, drawn in accordance with the order of the Board.
(2) Such Board shall have the control and management of parks, park entrances, parkways, boulevards, connecting viaducts, subways, children’s playgrounds, public baths and stations of public comfort located in such parks, of all improvements thereon, and the acquisition, construction, repair and maintenance thereof. The Board shall exercise exclusively all the powers and perform all the duties in regard to such property vested in and imposed upon a director of public service in a city under general law.
(3) The Board may apply, control, invest and reinvest the funds coming or arising from a gift, devise or bequest according to the terms on which the same are acquired.
(R.C. § 755.22)
(D) Compensation; oath; bond. The members of the Board of Park Trustees shall serve without compensation. Before entering upon the discharge of their duties, they shall each take the oath of office prescribed by R.C. § 733.68 and, except as otherwise provided in the municipal charter or in R.C. § 3.061, shall give bond in the sum of $2,500, conditioned according to R.C. § 733.71 and to the approval of the Mayor and the Legislative Authority.
(R.C. § 755.23)
(E) Meetings: rules and regulations; Clerk. The Board of Park Trustees shall hold meetings at least once a month and shall adopt necessary rules for the regulation of its business. It shall keep a complete record of its proceedings, which record, or a copy thereof, certified by the Clerk of the Board, shall be competent evidence of its transactions in the courts of the state. The yeas and nays shall be called upon the passage of every resolution or order. Three members of the Board shall constitute a quorum, but no resolution or order shall be adopted unless three members vote in its favor. The Fiscal Officer shall act as the Clerk of the Board of Park Trustees, but shall receive no additional salary or compensation for such services.
(R.C. § 755.24)