The donation shall be evenly divided between 2 funds, as follows:
(A) The sum of $150,000 shall be invested in a permanent fund. No monies shall be withdrawn from the permanent fund during the first 10 years so that this Fund, with accumulated income, shall be available for future scholarships.
(B) The sum of $150,000 shall be invested in a pass- through fund which shall be available for scholarships.
(Prior Code, § 36.81) (Ord. 8242, passed 3-13-2000; Am. Ord. 8416, passed 5-13-2002)