(1) There shall be an award designated as the "Philadelphia Medal of Honor," to be awarded to persons who are natives of, or who reside in the City, and who perform outstanding acts of heroism, achievement or service which bring honor and prestige to such persons and to the City.

(2) The award shall consist of an appropriate certificate or citation, on which shall be inscribed a brief statement of the act forming the basis of the award, together with a medal or emblem, which shall be of a design approved by the Art Commission.

(3) A Philadelphia Medal of Honor Award Committee shall be selected by the Mayor and shall consist of the City Representative, the Chairman of Council's Committee on Commerce, Navigation and Airport Facilities, the current recipient of the (Bok) Philadelphia Award, the current recipient of the Gimbel Award for Women, and one clergyman from the Protestant, Catholic and Jewish faiths.

(4) The Philadelphia Medal or Honor Award Committee shall select its chairman and adopt rules governing the selection of recipients of the Philadelphia Medal of Honor.