[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]
There is hereby established the board of trustees of the Leland Charity Fund.
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.
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.
[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.