32:17-7 - Gifts, bequests or devises;  use of revenue and income; reports and estimates

32:17-7.  Gifts, bequests or devises;  use of revenue and income; reports and estimates
     ARTICLE V.

     1.  All money, securities and other property, real and personal, heretofore  received by either of the state boards or hereafter received by the commission  by way of gift, bequest or devise, may be retained by the commission and,  except in so far as the purpose or manner of using the same is otherwise  specifically designated or restricted by the terms of any such gift, bequest or  devise, may be used in the commission's discretion in either state for any park  purpose;  and the commission may likewise retain and use all revenue and income  arising solely from such money, securities and other property so received by  way of gift, bequest or devise or from facilities or operations financed solely  by funds so received.  In the case of revenue and income arising partly from  specific property received by way of gift, bequest or devise or from specific  facilities or operations financed partly by funds so received, the commission  may likewise retain and use such proportion of such revenue and income as the  amount of gifts, bequests or devises, or the proceeds thereof, invested in each  such property, facility or operation, bears to the total amount invested therein.  The legislature of either state may from time to time by law specifically made applicable to the commission prescribe other terms and conditions upon which or purposes for which any gifts, bequests or devises thereafter made of money, securities or other property may be accepted for use  in such state or used in such state or prescribe a different manner of administering gifts, bequests or devises thereafter made in such state and the  disposition of all revenues or income arising therefrom.

    2.  Either state may from time to time by law require the commission to render to any designated official or official body of such state such reports and such estimates of revenues and expenditures as may be specified in such law.