When a deed of gift, devise, or bequest requires the investment or change of investment of the principal of the property or funds or any part thereof, the property or funds and any part for the improvement of which in whole or in part the fund is to be used, or any property for the care or management of which in whole or in part the fund is used, shall be managed, controlled, and administered by the Board of Park Trustees.
('56 Code, § 15-2)