N.Y. Gen. Mun. Law § 143

§ 143. Management and appropriation of property. Trustees created\nunder the provisions of this article shall have the custody and\nmanagement of all the property of such corporation, and shall\nappropriate the same, so far as the terms, provisions and conditions of\nthe donations will permit, for the purpose of aiding and instructing\nchildren, or for providing suitable grounds for such a public park or\nparks and properly preparing, beautifying, embellishing and keeping up\nand maintaining the same, or for furnishing and supplying such library\nwith a suitable and proper edifice, rooms, furniture, books, maps,\nmagazines and whatever may be necessary to make, keep up and maintain a\ngood and complete library, or for one or more of such purposes, and\npaying the expenses of the trust. Demising lands donated to the\ncorporation and investing and keeping money invested at interest, and\nusing the rents and interest therefrom for aiding and instructing\nchildren or for park purposes or library purposes, shall be deemed to be\nan appropriation of such property for said purposes.\n