Section 1-13 Reserved.
Prior to the adoption of Ord. 21287 on 04/02/2012, Section 1-13 read as follows.
(a) Provisions of Conley will accepted.
The provisions of the will of John C. Conley, for the
benefit of the deserving poor of the city are hereby accepted.
(b) Appointment and duties of committee.
It shall be the duty of the city council at its first
meeting in each year after the election of the city council, to elect a committee of three (3) of its
members whose duty is shall be to see that all of the following provisions are fully and faithfully
carried out, viz:
"Item 10th. I will and bequeath unto Walter W. Garth, as Trustee, the sum of Twenty Thousand
Dollars to be used and controlled by him and his successors as is hereinafter directed. I direct
that his compensation and that of his successors shall be fixed by the Circuit Court of Boone
County, Missouri, which tribunal shall fix the amounts of the bonds of said Trustee and
successors thereafter and approve the security in such bonds and after spreading such bonds on
its records preserve the original thereof. Said Court is empowered and requested to appoint
successors to said Trustee as vacancies shall occur by death, resignation, refusal to act, removal
from Boone County, or otherwise vacated. Said Trustee and successors who shall be acting from
time to time is directed and required to invest and to keep invested as far as practicable said sum
of money in good safe loans or interest bearing security and to pay over three-fourths of the net
income thereof at least once a year and oftener if practicable, to the treasurer of the City of
Columbia, Boone County, Missouri, and add the remaining one-fourth of said net income to the
principal. I direct that the trustee shall annually make to said Circuit Court at its first term in
year, a full report of the amount and condition of said trust fund showing how it is invested, the
rate of interest it draws and everything necessary to a thorough understanding of the condition of
said trust fund. The acting treasurer of said City of Columbia on receiving from said Trustee of
any sums of money at any time is directed to place the amount received to the credit of the trust
fund, and at once notify the City Council. I direct said City Council whenever they think best to
invest the amount on hand or so much thereof as they think best from time to time, in the
necessaries of life and distribute the same among the deserving poor of said city in such amount
and at such time
as said Council shall think best. It is hereby enjoined upon said City Council and I directed that
its first meeting after the election for councilmen each year and the organization of the new board
to appoint a Committee who shall inquire into the sufficiency of the bond and security given by
the Trustee acting and bring to the notice of the Circuit Court by appropriate report any facts
which in its opinion tend to endanger the security of said trust fund. I direct that the City Council
shall annually before the organization of the next Board of Councilmen, cause to be spread upon
its records, open for the inspection of all persons interested, a full and complete statement of all
monies received from the trustee of said trust fund during the year ending with the date of said
settlement and showing the distribution of the same, how invested, the persons who have been
the beneficiaries and the amounts distributed to each."
(Code 1964, §§ 1.170, 1.180)
Cross reference(s)--Boone County Community Services Advisory Commission,
§ 2-266 et