A. There is created a library gift fund to be known as the gift fund, Bellingham public library, materials and supplies and/or capital outlay.

B. The moneys in the fund shall be received from individual and corporate donors who have designated that the moneys be used for the purchase of special items and/or the purchase of memorial items, and/or the purchase of items in support of the special interests of an individual or of a group, the final determination of suitability of the items so designated to rest with the library board and the librarian, provision thus being made for the return of gift moneys.

C. The moneys in such gift fund shall never be expended for any other purpose than for library purposes, materials and supplies and/or capital outlay as designated by the donors and shall be disbursed only on order of the board of library trustees.

D. Moneys in such fund shall be deposited upon receipt with the city treasurer and shall be available upon demand of the board of library trustees in settlement of any claim for purchases or acquisitions made in furtherance of the intent and desire of the donor, and the board of library trustees shall make an accounting in its annual report of the receipts and disbursements in such gift fund, indicating names of donors, amount received, intent of donors, and library materials or capital improvements procured with such gift moneys. [Code 1980 at § 1.20.350].