Good Afternoon John,
Here is my two cents on your question.
I would call it a "long-term" loan rather than a "permanent loan."  I am
not sure what a permanent loan means....is it loan or not?  When you use
the term long-term loan everybody (should) understand their loan (read:
bailment) reality and responsibilities for both parties.  I would make
the term of the loan for no more than 5 years with the loan/bailment
agreement to be re-visted by both parties after 3 years.... with
hopefully an extension for 5 more years after the third year
revisit/discussion.  If every three years, both parties agree on all
matters, then this bailment/loan could go indefinitely, but as we all
know things change.  By re-visiting the loan agreement and discussing
the arrangement, both parties are reminded of their bailment
responsibilities and can act in a timely manner if necessary.
Best Wishes for Success,
Wesley
Wesley S. Creel
Administrator of Programs
Pink Palace Family of Museums
Memphis, TN U.S.A.
www.memphismuseums.org
please note that my e-mail address is changing to
[log in to unmask]


-----Original Message-----
From: Museum discussion list [mailto:[log in to unmask]] On
Behalf Of John Martinson
Sent: Monday, November 15, 2004 12:17 PM
To: [log in to unmask]
Subject: permanent loan

We have a "50,000" pound object that a city wants to put on display
in a public park for interpretation.  Would anyone have any legal
language that allows us to "loan" (through an outgoing loan
agreement) the object on a permanent basis, but still retain ownership
of the item?  Thanks! 

John Martinson
Museum Specialist
Snake River Area Office
Boise, ID 
(208) 383-2287

RECLAMATION 
Managing Water in the West

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