The Weller Memorial Commission shall handle the bonds, securities and funds coming to the City from the estate of Julia M. Weller, deceased, late of the City, the Commission and its successors shall invest and re-invest in perpetuity the funds bequeathed to the City by Julia M. Weller, in bonds or other obligations of the United States or of the State, and bonds or other interest bearing obligations of any county, city or school district within the State, provided such county, city or school district has not defaulted in the payment of the interest on any of its bonds or other interest bearing obligations, for a period of more than one hundred and twenty days during the ten years immediately preceding the investment by the Commission, and provided further that such county, city or school district, is not, at the time of such investment, in default in the payment of principal or interest on any of its bonds or other interest bearing obligations. The income derived from such bonds is to be used to aid and help the crippled children and the blind of the City and especially for the furnishing of surgical and medical assistance for the amelioration of the condition of such crippled children and blind residents of the City.
(1951 Code Sec. 7.26)