§ 5-803. Administration.

(1)

Any capital or operating funds appropriated by the City Council to the Commission in accordance with the provisions of this Charter shall be administered by the Commission subject to all provisions of the Charter applicable to such appropriations. All other funds received by the Commission, including but not limited to funds generated from the operation of facilities by the Commission, millage revenues, donations, and federal, state, or local funds, shall be administered solely by the Commission in accordance with the procedures specified in this section.

(2)

The Commission shall prepare and transmit its operating and capital budgets annually to the Mayor and Council no later than the first day of December of each year.

(3)

The Commission shall prepare and transmit to the Mayor and Council an independent audit prepared by a Certified Public Accountant or firm of Certified Public Accountants within 120 days of the end of its fiscal year. Notwithstanding the preparation and transmittal of such an audit by the Commission, the Council may include the Commission in the independent audit authorized pursuant to Section 6-107 of this Charter.

(4)

The Commission shall comply with all state and municipal public bid laws dealing with the procurement and disposition of property.

(5)

The Commission may accept any trust or conditional donation without the necessity of review by the Board of City Trusts or its successor, provided that the Commission shall not accept any trust or conditional donation which imposes a financial obligation unless the acceptance is approved in accordance with procedures established by ordinance or in accordance with procedures established in this Charter for the acceptance of a trust or conditional donation. In no event shall acceptance of any trust or conditional donation by the Commission impose any financial obligation on the City unless approved as provided by this section.

(6)

The Commission may retain counsel, whose duties may include the performance of notarial work for transactions required to be in authentic form.