The Mayor and City Treasurer shall be trustees to receive and
hold the fund donated to the City by Robert T. Davis for prizes in
certain of the public schools and known as the "Davis Prize Fund."
The annual report of the City Treasurer shall contain a statement
of the condition of the Davis Prize Fund.
The income of the Davis Prize Fund shall be placed to the credit
of the School Committee by the City Treasurer and shall be expended
by the committee for the yearly purchase of a medal to be given to
the scholar of the graduating class of the Davis School who has the
best general school average for the year then ending. The balance
remaining after the purchase of such medal for the Davis School shall
be expended in buying for grammar schools of the City, in turn as
designated by the School Committee, such objects for the use or ornament
of such schools as the committee may designate.
All payments from the income of the Davis Prize Fund shall be
made upon the order of the chairperson of the School Committee drawn
upon the City Treasurer, which order shall contain a schedule of the
several demands included therein, and shall be audited by the City
Auditor and paid upon the warrant by the Mayor.
