There is hereby created a Board of Commissioners
of Trust Funds consisting of three persons who shall have the management
of all trust funds given or bequeathed for the benefit of indigent
persons of the City of Fitchburg or its indigent inhabitants, unless
the donor in making the gift or bequest shall otherwise provide. Said
Commissioners shall be appointed by the Mayor to be confirmed by the
City Council. The initial Board shall be appointed one member for
one year, one member for two years and one member for three years.
Thereafter, said members shall be appointed annually one member for
three years. All vacancies in the Board shall be filled by the Mayor,
with the approval of the Council.
The Commissioners of Trust Funds shall, upon
their initial organization or soon thereafter, as is convenient, organize
and choose a Chairperson who shall serve for such term as the Commissioners
shall by rule or regulation decide. The Commissioners shall by rules
and regulations promulgated by them determine the frequency of their
meetings and the Board's organization, structure, procedures and standards
for administering trust funds with due regard for the grantors' intent.