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This entry was published on 2014-09-22
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Acceptance of conditional gift
Education (EDN) CHAPTER 16, TITLE 1, ARTICLE 5, PART 2
§ 257. Acceptance of conditional gift. By majority vote at any
election or at a meeting of the electors, duly held, any municipality or
district or by three-fourths vote of its council any city, or any
library or any designated branch thereof if so authorized by such vote
of a municipality, district or council, or any combination of such
voting bodies, may accept gifts, grants, devises or bequests for library
purposes or for kindred affiliated educational, social and civic
agencies on condition that a specified annual appropriation shall
thereafter be made for the maintenance of a library or branches thereof,
or of such kindred affiliated agencies, by the municipality or district
or combination so authorizing such acceptance, or upon such other
conditions as may be stipulated in the terms of the gift. Such
acceptance when approved by the regents of the university under seal and
recorded in its book of charters shall be a binding contract, and such
municipality or district shall levy and collect yearly in the manner
prescribed for other taxes the amount stipulated and shall maintain any
so accepted gift, grant, devise or bequest intact and make good any
impairment thereof, and shall comply with all other conditions set forth
in the stated terms of the gift.