§ 2.21.050. Gifts, devises and bequests.

Latest version.

The city treasurer shall, unless the donors thereof have otherwise directed, receive all moneys, properties and securities given, devised or bequeathed to or deposited with the city for any specific purpose, give a receipt and discharge therefor in behalf of the city, and sell the same except the real estate, and invest the proceeds as provided in General Laws, Chapter 44, Section 54, as a permanent fund, and shall hold the income thereof subject to expenditure for the purpose designated in the gift, devise, bequest or deposit.

(Prior revision § 2-36)

                    
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