§506.  Receipt of funds for benefit of alms fund; twenty five thousand dollars to be permanent fund

The governing authority or the city council of the respective parish or city may at any time receive funds or property of any character for the benefit of the alms fund; provided that the sum of twenty-five thousand dollars, which may be received and accumulated, from whatever sources, shall be retained as a permanent fund, the annual income alone being available for the use and purposes set forth in this Part.