There is created a special fund of the city to be known as, called and designated the "Ann Land memorial fund," into which there shall be paid, and to the credit of which there shall be placed upon the books of the city treasurer all moneys, which are or may be paid over to the city by the executors and executrix of the last will and testament and estate of William Land, deceased, in fulfillment and satisfaction of the gift, legacy and bequest made to the city in and by the provisions of the twenty-seventh paragraph of the last will and testament of William Land, deceased.
In addition, there is also created a special fund of the city to be known as, called and designated the "Bertha Henschel memorial fund," into which there shall be paid, and to the credit of which there shall be placed upon the books of the city treasurer all moneys, which are or may be paid over to the city by the executors of the last will and testament and estate of Bertha Henschel, deceased, in fulfillment and satisfaction of the gift, legacy and bequest made to the city in and by the provisions of the last will and testament of Bertha Henschel, deceased.
The two abovementioned funds are to be administered jointly by the Ann Land and Bertha Henschel memorial funds commission, but the funds are to remain separate. (Prior code § 60.05.020)
The Ann Land memorial fund and the Bertha Henschel memorial fund are determined and declared to be trust funds, and shall never be diminished or impaired. The principal sum thereof shall be invested to the best advantage by the city, and the interest accruing thereon shall be paid out, from time to time, under the supervision of the city council to the destitute men, women and children of the city in such manner as the council may deem most proper and beneficial. (Prior code § 60.05.021)
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