[HISTORY: Adopted by the City Council of the City of Quincy as indicated in article histories. Amendments noted where applicable.]
GENERAL REFERENCES
School grounds — See Ch. 266.
[Adopted 5-17-1993 as Ch. 2.140 of the 1993 Code]
All the rights, powers and duties of the Board of Managers of the Adams Academy as provided by Clause 14 of Section 34 of the original Charter of the City shall be exercised by the School Committee of the City.
[Adopted 5-17-1993 as Ch. 2.144 of the 1993 Code]
The estate belonging to the Adams Temple and School Fund, which is held in trust by the City of Quincy for the purposes set forth in the deeds of gift of the late John Adams and Charles Francis Adams, together with bequests of the late Robert Charles Billings and Louisa C. Smith, shall be deemed and considered as the principal of said fund. The net income, except from the Billings and Smith gifts, is to be expended by the City of Quincy, in its capacity as trustee of the Woodward Fund and Property for the conduct, operation, maintenance, management and advancement of the Woodward School for Girls, subject to the approval of the Board of Supervisors of the Adams Temple and School Fund.
The Mayor, the President of the City Council and the Treasurer/Collector and two members to be elected annually in the month of January by the City Council, one of whom may be a member of the Board of Supervisors, shall constitute the Board to have, in concert with the Board of Supervisors, the management, control and disposition of the principal trust fund, subject to conditions as to the Adams Academy building and the lot upon which it stands as hereinafter set forth, and such Board shall have full power and authority, in concert with the Board of Supervisors, to invest, reinvest, sell or otherwise dispose of such estate and make and execute all instruments or take any other act necessary in the premises, and in taking such action they shall treat such property as a trust and not invest or reinvest or otherwise dispose of the property excepting as trustees of the same acting in behalf of the City. The Board shall cause to be collected all rents, interests and other indebtedness that shall become due on account of such fund. After paying all necessary expenses relating to the same, the Treasurer/Collector shall hold the net amount and pay over the same, from time to time, to the City of Quincy in its capacity as trustee of the Woodward Fund and Property.
Each fiscal year for the disposition of the income shall begin upon February 11 and the same may be employed annually for such purpose, but in the event of the entire net income for any one year not being employed for such purpose, any surplus may be so employed in any succeeding year.
The City is also authorized upon a three-fourths vote of the City Council and with the approval of the Mayor to sell the lot upon which the present academy building stands or any portion thereof and invest the proceeds with the other funds of this trust. If the City desires to devote this land, or any part thereof, to its own use for other than school uses, because of the historical connections therewith, it shall add to the income from the trust funds such reasonable payment therefor as may be agreed upon between the City and the Supervisors.
In determining the net income, the City shall require no payment from such income by reason of any taxes assessed upon any lands or other property held in such fund, and in the event of its being determined that any part of such estate is liable to pay any taxes, the amount so paid out of such income shall, in order that such decree be fully enforced, be appropriated by the City and paid to the Treasurer/Collector of the City to be added to such income.
The President of the Council shall annually, in the month of January, appoint three members of the Council to investigate the condition of such Adams Temple and School Fund, who shall make a detailed report to the Council within eight weeks of their appointment.