2.15.050 LIBRARY GIFTS.

The library board of trustees may accept gifts other than real property pursuant to Section 6.01 of the San Mateo City Charter, without specific approval of the Council, where no obligation attaches to the City other than the use for the benefit of the library, and if they do not require maintenance or unusual housing, insurance or continual cost to the City.

Funds received by way of gift or bequest for the use and benefit of the City libraries, where payment into the City treasury is inconsistent with the terms of the gift, shall be deposited in an insured account in a depository approved by the City Manager. They shall be subject to withdrawal therefrom only upon the authorization of the library board at a regular meeting or a special meeting called for that purpose upon the signed authorization of no less than two members of the board. The funds shall be subject to audit by the City auditor from time to time.

The library board shall furnish an annual report by June 30th of each year on such fund to the City Council, showing the deposits, receipts, withdrawals and the purposes for which the funds are being pledged and used.