Excerpt from the Last Will and Testament of Charles E. Krutch (October 1, 1978)

VI

All the rest and residue of my estate I give, devise and bequeath to the City of Knoxville for the following uses and purposes:

(a) An amount equal to approximately one-half (1/2) of the value of the residuary estate, the amount to be determined with the advice of my Executor, so received shall be used for the purchase of a parcel of land for use as a nature park within the City.  The park shall not be used or developed as a playground, but as a quiet retreat with trees, shrubs, flowers and other plantings for the pleasure and health of the public.  It shall be located in the downtown business district and shall be known as Krutch Park.  Robert S. Young of Knoxville, Tennessee, hereinafter named as Executor hereof, shall as such executor or individually make the final decision as to the choice of the site for the park from among those considered suitable by the City.  If considered appropriate by the City and my Executor, the park may be located in whole or in part on property already owned by or available for that purpose to the City, in which case any funds not needed for the acquisition of property shall be used for the initial development of the nature park or added to the fund held pursuant to paragraph (b) hereof.

(b) The remainder of the said residuary estate shall be held by the City as a separate trust fund, and the income therefrom shall be used for the development and maintenance of the said park.  The trust fund shall not be invested in bonds other than those of a Moody Rating of AA or AAA or of other such comparable rating or quality in the event of the termination of publication of the Moody Ratings or in stocks other than those commonly called "Blue Chip," and changes in investments shall not be made merely for the purpose of improving yields or an expression of judgement as to their future increase in market value and only when a change is otherwise necessary.  The said Robert S. Young shall be consulted by and shall advise with the City upon any change in investment of the trust fund during his lifetime. 



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