The thing is, you'll want to fix it up (at least replace the rims) before you let your daughter ride it anyway, just to be safe. So the answer to your questions is Yes.
__________________
Bikes: 1996 Eddy Merckx Titanium EX, 1989/90 Colnago Super(issimo?) Piu(?), 1990 Concorde Aquila(hit by car while riding), others in build queue "when I get the time"