Title 30-A: MUNICIPALITIES AND COUNTIES HEADING: PL 1987, C. 737, PT. A, §2 (NEW)
Part 2: MUNICIPALITIES HEADING: PL 1987, C. 737, PT. A, §2 (NEW)
Subpart 9: FISCAL MATTERS HEADING: PL 1987, C. 737, PT. A, §2 (NEW)
Chapter 223: MUNICIPAL FINANCES HEADING: PL 1987, C. 737, PT. A, §2 (NEW)
Subchapter 1: GENERAL PROVISIONS HEADING: PL 1987, C. 737, PT. A, §2 (NEW)
§5654. Conditional gifts
This section governs a municipality's receipt of a conditional gift for any specified public purpose. [1987, c. 737, Pt. A, §2 (NEW); 1987, c. 737, Pt. C, §106 (NEW); 1989, c. 6, (AMD); 1989, c. 9, §2 (AMD); 1989, c. 104, Pt. C, §§8, 10 (AMD).]
1.Acceptance or rejection. When the municipal officers receive written notice from a prospective donor or a representative of the proposed gift, they
shall submit the matter at the next meeting of the municipal legislative body. Within 10 days after the meeting, the municipal
officers shall send written notice of their acceptance or rejection to the donor or the donor's representative.
[
1987, c. 737, Pt. A, §2 (NEW);
1987, c. 737, Pt. C, §106 (NEW);
1989, c. 6, (AMD);
1989, c. 9, §2 (AMD);
1989, c. 104, Pt. C, §§8, 10 (AMD)
.]
2.Perpetually comply with conditions. When the donor or the donor's representative has completed the donor's part of the agreement concerning the execution of
a conditional gift, the municipality shall perpetually comply with, and may raise money to carry into effect, the conditions
upon which the agreement was made.
[
1987, c. 737, Pt. A, §2 (NEW);
1987, c. 737, Pt. C, §106 (NEW);
1989, c. 6, (AMD);
1989, c. 9, §2 (AMD);
1989, c. 104, Pt. C, §§8, 10 (AMD)
.]
3.Deposited or invested. Unless otherwise specified by its terms, a conditional gift of money may be deposited or invested according to subchapter
III-A.
[
1987, c. 737, Pt. A, §2 (NEW);
1987, c. 737, Pt. C, §106 (NEW);
1989, c. 6, (AMD);
1989, c. 9, §2 (AMD);
1989, c. 104, Pt. C, §§8, 10 (AMD)
.]
SECTION HISTORY
1987, c. 737, §§A2,C106 (NEW).
1989, c. 6, (AMD).
1989, c. 9, §2 (AMD).
1989, c. 104, §§C8,10 (AMD).
Data for this page extracted on 11/06/2009 08:32:38.