The fund known as the "B.M.C. Durfee High School Fund" shall
be invested by the City Treasurer in some safe and profitable manner,
separate and apart from all other investments and funds of the City
in the manner required by law, and shall be denominated the "B.M.C.
Durfee High School Fund."
The income of the B.M.C. Durfee High School Fund, including
any balance, shall be credited to an account known as the "B.M.C.
Durfee High School Fund."
The B.M.C. Durfee High School Fund shall be expended in accordance
with the provisions of the trust contained in the instrument conveying
the fund to the City.
The annual report of the School Committee shall contain a detailed
statement of the expenditures of the B.M.C. Durfee High School Fund.
All payments from the income of the B.M.C. Durfee High School
Fund shall be made upon the order of the chairperson of the Board
of Trustees of the B.M.C. Durfee High School after approval of the
Superintendent of Schools and Finance Committee of the School Committee,
which order shall contain a schedule of the several demands included
therein, and shall be audited and approved by the City Auditor.