Sinking Fund.
   Section 51.   The mayor, the director of law, and the director of finance and public record shall constitute the sinking fund trustees, but as such trustees, they shall receive no additional compensation. The mayor shall be the president, and the director of finance and public record shall be the secretary of the trustees of the sinking fund. The trustees of the sinking fund shall manage and control the sinking fund in the manner provided by laws of the State of Ohio or by ordinance.