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- 4 - <br />3.7. Once a proposed donation is accepted, it becomes City property and the <br />City may decide to maintain, replace, relocate, or dispose of the item, <br />unless a restricted donation provides otherwise. <br />3.8. All monetary, cash, and cash equivalent donations shall be deposited and <br />recorded with the Finance Division of the Administrative Services <br />Department and deposited in accordance with Departmental policies. <br />3.9. After the approval of a sponsorship by the City, the terms of the <br />Sponsorship, including any expectation of a significant return or <br />recognition shall be set forth in a written Sponsorship Agreement between <br />the sponsor and City. The agreement must be approved as to form by the <br />Office of the City Attorney. <br />4. SUPPLEMENTAL REVIEW PROCESS FOR “WORKS OF ART” <br />4.1 If a donation, sponsorship or City-related grant is a work of art covered by <br />the City’s Public Art Ordinance as determined by the Director of the Parks, <br />Recreation, and Community Services Department, then the City’s review and <br />acceptance of the work of art shall be conducted in accordance with the City’s <br />Public Art Ordinance, along with this Donation, Sponsorship and City-Related <br />Foundations Grant Policy. <br />5. SUPPLEMENTAL REVIEW PROCESS FOR CITY- RELATED FOUNDATIONS <br />5.1. Directors or designees of City departments that receive City-related <br />foundation grants from City-related foundations such as the Redwood City <br />Parks and Arts Foundation and Redwood City Library Foundation shall <br />annually perform the following: <br />a. Review the membership of the foundation’s board to determine <br />whether the addition of a particular person on the board raises an <br />actual or perceived conflict; <br />b. Obtain signed statements from each foundation board member and <br />principal officer affirming that such person has received, read, <br />understands, and agrees to comply with the foundation’s conflict of <br />interest policy; and <br />c. Review the foundation’s current conflict of interest policy to <br />determine if any material change has been made to the policy that <br />may affect the decision to accept funding or any other benefit from <br />the City-related foundation. <br />6. COSTS, ACCOUNTING, AND RECORD KEEPING <br />8.B. - Page 17