(1) Title to a work of art acquired by or created for the program vests upon its completion, installation, and final acceptance in the name of the City.

(2) Title to a work of art acquired from appropriations for any City building or facility of which any part is obtained from the issuance of bonds, and placed in or at that building or facility, is subject to the same restrictions and interests as title to that building or facility, to the extent necessary to preserve the federal income tax exemption otherwise allowed for interest paid on those bonds.