§ 16-23-2-11 — Donations and bequests

(a) The governing board may, under the
name fixed by the ordinance and consistent with the terms of any
donations and bequests, do the following:
(1) Accept, hold, and administer donations and bequests for the
hospital or hospitals.
(2) Invest the money in securities that the board considers proper.
(3) Use the money and assets for hospital purposes.
(4) Convey assets and pay out money without an appropriation,
but only after the action is authorized by a majority vote of the
members of the board.
(b) If the board desires to accept the donations or bequests, the
board shall elect a treasurer from among the board who is custodian of
the money and of the income from the money. The treasurer shall give
bond in an amount fixed by and with surety to the approval of the
board. The bond must be payable to the board, and suit may be brought
on the bond by the board in the board's name.
(c) The board may not accept a donation or bequest that creates an
obligation to the city unless the donation or bequest is first accepted
and approved by the city fiscal body.
[Pre-1993 Recodification Citation: 16-12.2-8-5.]

Legislative History

As added by P.L.2-1993, SEC.6.