§ 4-8. Investment powers of Trustees.

(a) In general.

The Trustees of The McDonogh Educational Fund and Institute shall have power with respect to all property which may have been heretofore or which may hereafter be granted, transferred, delivered to, or otherwise vested in the Mayor and City Council of Baltimore for the Trustees of The McDonogh Educational Fund and Institute or in said McDonogh Fund and Institute to invest and reinvest the same and to change the investments thereof, with full power to sell or otherwise dispose of any of such property or investments from time to time so held, said powers to include, but not by way of limitation, the power to invest monies in their control or possession in the securities of the United States, of states, counties, and municipalities, in mortgages, corporate bonds, notes, or other securities, real estate, and ground rents.

(b) Investment criteria.

They shall make the selection in such manner as will in their judgment afford safe productive investments for the funds in their hands.