What body of government decided how smithsons money would be used?

The Congress accepted Smithson's bequeathed and pledged to the United States for a charitable trust. After many years of debates, an Act of Congress that was signed by President Polk, stating that Smithson's money will be used to establish the Smithsonian Institution. Since its founding until the recent, Smithsonian Institution became one of the world's largest museum. 

South central region

The london company was an english joint stock company established in 1606 by royal charter by king james i with the purpose of establishing colonial settlements in north america.