(a) The Trustee, Custodian and Fund Manager of the Police Pension Fund shall be the Pension Committee established in Section 210.03.
(b) The Borough Secretary shall forthwith remit to the Pension Committee all funds received by him or her for the purposes of the Fund or appropriated thereto by the Borough, with a memorandum as to the source thereof, and shall secure its receipt therefor. The Pension Committee shall receive the same and invest any funds not currently required for disbursement in the same manner and in the same kinds of securities as are authorized by law for banks chartered by the Commonwealth of Pennsylvania.
(c) The Pension Committee shall pay benefits out of the Fund only at such times, to such persons and in such amounts as may be certified to it by the Secretary of the Committee. The Trustees shall annually submit to the Borough Council a detailed report of their administration of the Fund, which reports when so submitted shall be open to inspection by any interested party.
(d) The Fund is hereby authorized to receive by gift, grant, devise or bequest any money or other property, real, personal or mixed, in trust for the benefit of the Police Pension Plan, and the care, management, investment and disposal of such trust funds or property shall be vested in the Trustees having the management of the Plan, and the said trust funds or property shall be administered in accordance with the regulations governing the Plan, subject to such directions not inconsistent therewith as the donors of such funds or property may prescribe.