This legislation allows the museum to deposit donations into a special fund that will draw interest.
The museum can use the interest, while leaving the principal untouched.
"This (endowment) gives the museum another important tool to assist with funding," said
"Many businesses and corporations like the idea that their initial gift will keep growing each year. The passage of this bill demonstrates the commitment that the legislature has to this part of the state and to this
Originally presented as SB 1979, the legislation was authored by Sen.
The fund shall be a "continuing fund, not subject to fiscal year limitations, and shall consist of all monies received through donations, appropriations or interest earned by investment of monies in the fund."
The bill passed the
"The governor told
Hours of operation are
Admission is free but donations are welcomed.
(c)2014 the Claremore Daily Progress (Claremore, Okla.)
Visit the Claremore Daily Progress (Claremore, Okla.) at claremoreprogress.com
Distributed by MCT Information Services