There is established an account to be known as the “New England Disaster Training Center activity account” which shall be a separate, nonlapsing account within the General Fund. The account shall contain any moneys required by law to be deposited in the account and any moneys obtained from the proceeds of operational activities of the New England Disaster Training Center. Moneys in the account shall be expended by the Adjutant General for the purpose of operating the New England Disaster Training Center. The Adjutant General may apply for and accept gifts, grants and donations from public or private sources for the purposes of said account and any such gifts, grants or donations shall be deposited in said account.