161.02 DONATIONS OF CASH OR MARKETABLE SECURITIES; INSURANCE PROCEEDS.

     (a)    Cash receipts or marketable securities in amounts of twenty-five thousand dollars ($25,000) or less may be received by the appropriate department head as designated by the Mayor and these funds are considered appropriated and available for expenditure by the department or division designated by the donor and may be expended upon proper authorization by the department head so designated by the Mayor.

   (b)    Grant proceeds in amounts of twenty-five thousand dollars ($25,000) or less may be received by the appropriate department head as designated by the Mayor and these funds are considered appropriated and available for expenditure by the department or division designated by the donor and may be expended upon proper authorization by the department head so designated by the Mayor.

   (c)   Insurance proceeds in amounts of twenty-five thousand dollars ($25,000) or less may be received by the appropriate department head as designated by the Mayor and these funds are considered appropriated and available for expenditure by the department or division from which the insurance claim originated and may be expended upon proper authorization by the department head so designated by the Mayor.

   (d)   Donations of cash or marketable securities, grant proceeds, or and insurance proceeds in amounts of over twenty-five thousand dollars ($25,000) must be presented to Council for formal acceptance and appropriation. These funds shall be held in trust and:

           (1)    Appropriated and available for expenditure by the department or division designated by the donor or from which the claim originated; or

            (2)    Placed in a permanent fund which is restricted to the extendt that only earnings of the fund, and not principal, shall be available for expenditure as designated by the donor; or

            (3)    Placed in a capital projects account designated by the donor or otherwise designated by Council.

   (e)   All funds given in trust for hospital purposes shall be controlled by the Hospital Board of Governors consistent with the Charter of the City.

(Ord. 2023-23. Passed 9-5-23.)