The purpose of the Trust Fund is exclusively to receive and to administer funds for recreational, health and athletic purposes for the benefit of the residents of the city, and to that end to take and hold by bequest, device, gift, grant, purchase, lease or otherwise any property, real, personal, tangible, or any undivided interest therein, without limitation as to amount or value; to sell, convey or otherwise dispose of any property and to invest, reinvest, or deal with the principal or the income thereof in such manner as, in the judgement of the Board of Trustees of the Fund, will best promote the purposes of the Trust Fund.
(Ord. 162, passed 12-5-1977)