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)