(a) may give to an association the care and improvement of any of its streets, parks, commons, cemeteries, open public places, public buildings, statues, monuments or landmarks, and

(b) may pay or deliver to the association any funds, investments or other assets held by the municipality, subject to the carrying out of the purpose for which the same were held by the municipality, for the care, improvement, preservation, decoration or ornamentation of any streets, parks, commons, cemeteries, open public places, public buildings, statues, monuments or landmarks.