§ 1-2. Allocation of funds.

(a) Conditioned funds.

If any condition or conditions be prescribed in any such devise, bequest, or donation, the same shall be applied under the direction of said Board, with the sanction of the Mayor and City Council, agreeably to the intention of the testator or donor.

(b) Unconditioned funds.

(1) If no condition be prescribed in any such devise, bequest, or donation, it shall not be lawful for said Board to draw all or any part of the amount thereof out of the City Treasury during the year in which it was received, unless:

(i) the collections from the resources and levy of the school fund for said year should fall short of the estimated expenditures forming the basis of said levy; or

(ii) it shall have been already allowed in the estimated resources of the fund for said year.

(2) Otherwise, the same shall be included in the estimate of the ensuing year.