1961-1962 - American Museum of Natural History

NOTES TO FINANCIAL STATEMENTS
1. The Authority's corporate charter terminates when all its liabilities,
including its bonds, have been paid in full or have otherwise been
discharged. At that time title to its personal property passes to The
American Museum of Natural History and title to its real property
passes to the City of New York to be maintained and operated in the
same manner as other city property occupied by the Museum. Because
of the nature of the ownership of the property, provision for depreciation
of the building is considered unnecessary.
2. The Planetarium Authority bonds were purchased by The American
Museum of Natural History in 1948. The Charles Hayden Foundation
contributed $200,000 to the Museum toward the purchase of such
bonds.
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