§ 10-3. Lease of building to corporation.

In the event that the members of the Art Museum Building Commission form a corporation under the laws of this State, or in the event that the members of the Art Museum Building Commission become the board of directors or trustees of any existing body corporate with charter powers enabling such corporation to acquire and exhibit objects of art, then plans shall be formulated by the proper City officials to lease the building provided for herein to such corporation at a nominal rental, provided that the board of directors or trustees of such corporation shall always include the Mayor, the President of the City Council, and the City Comptroller; and provided further that the terms under which such lease is made shall, before it take effect, be approved by an ordinance of the Mayor and City Council.