The board of park commissioners, out of any moneys received under the provisions of sections 450.23 to 450.25, or from any gift or bequest applicable thereto, shall care for and maintain, as a public park, any land or grounds so acquired and used and shall maintain and keep in repair, alter, enlarge, improve and equip, heat, light, and care for any and all these buildings, maintain proper insurance thereon, and make suitable provision for the custody of, and for keeping, preserving, and exhibiting, any and all collections, objects, and specimens contained therein. In case of the destruction or damage of any such building from any cause, the proceeds of any insurance thereon, together with any funds available therefor received under the provisions of sections 450.23 to 450.25, shall be used for the restoration of the building. The board shall have power to make any contracts or arrangements, in the name of the city, necessary or convenient to promote the general purposes of sections 450.23 to 450.25, and shall have power to make rules and regulations for the use and government of the lands and buildings and, for that purpose, may adopt rules and ordinances, and provide penalties for their violation.