(A) There is hereby established a Misselhorn Art Foundation Trust Fund into which shall be paid all proceeds received by virtue of the bequest of Roscoe Misselhorn, Deceased, to the city’s Misselhorn Art Foundation pursuant to Article Sixth, subparagraph A, of the Last Will and Testament of Roscoe Misselhorn, Deceased, dated 11-20-1992.
(B) An appropriation shall be made annually to the Fund in the annual Appropriation Ordinance of the city of all moneys expected to be received during the current fiscal year of the city pursuant to the provisions of said last will and testament.
(C) It shall be the duty of the City Clerk and the City Treasurer to deposit all sums received from the Co-Executors of the Estate of Roscoe Misselhorn, Deceased, into the above designated fund. Upon deposit of said moneys into the above designated Fund, said moneys shall be invested and expended only in accordance with the provisions of this subchapter.
(1994 Code, § 36.45) (Ord. 97-10, passed 12-23-1997)