City of Fall River, MA ARTICLE IV B.M.C. Durfee High School Fund

§ 58-111 Investment; title.

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."

§ 58-112 Disposition of income.

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."

§ 58-113 Use of income.

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.

§ 58-114 Annual statement of expenditures.

The annual report of the School Committee shall contain a detailed statement of the expenditures of the B.M.C. Durfee High School Fund.

§ 58-115 Payments from 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.