[Gen. Ords. 1962, § 19-8]
The trust fund bequeathed to the inhabitants of the Town of
Waltham by the last will and testament of George Leland, late of Waltham,
shall be called by the name of "The Leland Charity Fund and shall
be kept by the city treasurer invested in bonds or notes of the city
or in securities, except personal securities in which funds of savings
banks may by law be invested.
[Gen. Ords. 1962, §§ 2-5, 2-9, 19-6, 19-7]
(a) There is hereby established the board of trustees of the Leland Charity
Fund.
(b) The board of trustees of the Leland Charity Fund shall consist of
three (3) person appointed by the mayor, subject to confirmation by
the council. One (1) of the board shall be appointed on or before
the first Monday in February in each municipal year, to serve for
three (3) years from the expiration of the term of the member then
next outgoing.
(c) The members of the board of trustees shall meet on the first Monday
in March annually, or as soon thereafter as convenient, and organize
by the choice of a chairman, and shall keep a record of their proceedings.
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Cross references—Annual inventory of city property to be submitted to mayor and auditor, § 2-2; annual reports by boards and officers to mayor, § 2-9; turn over an accounting for funds, § 2-88; books and records to correspond to fiscal year, § 2-89.
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[Gen. Ords. 1962, § 19-9]
It shall be the duty of the city treasurer to keep a separate
account of the Leland Charity Fund and the income therefrom. He shall
pass to the credit of such account the interest of such bonds and
notes as the same becomes due, without the necessity of any draft
or order from any officer of the city, and shall disburse the same
upon order of the city auditor, as provided for general accounts.
[Gen. Ords. 1962, § 19-10]
The board of trustees shall, subject to the order of the council,
have the exclusive disposition of the income of the Leland Charity
Fund, and shall apply the same to the relief of deserving poor people,
inhabitants of the city, who are not inmates of the city almshouse.