(CNN) -- Sanford, Fla., city officials have chosen a former Colorado police chief as an interim replacement for the top cop who stepped aside during the furor over February's killing of an unarmed teen.

Richard Myers, the former police chief in Colorado Springs, will take office in Sanford at the end of the week, the city government announced Tuesday. He will take over a department that has been under the microscope since the Feb. 26 killing of 17-year-old Trayvon Martin by a neighborhood watch volunteer.

Sanford Police Chief Bill Lee, who attempted to resign last week, will remain on paid administrative leave, according to a statement from city hall. Lee stepped aside as chief after a vote of no-confidence by city commissioners, but the commission voted against accepting his resignation while investigations into Martin's killing are pending.

The case drew nationwide protests when police decided against arresting neighborhood watch volunteer George Zimmerman, who told investigators he killed Martin in self-defense. A special prosecutor assigned to look into Martin's death ultimately brought second-degree murder charges against 28-year-old Zimmerman, who has pleaded not guilty and been released on $150,000 bail.

Prosecutors asked for that bail to be increased after learning that contributors had donated more than $200,000 to a legal defense fund he set up. About $5,000 of that went toward the $15,000 cash Zimmerman put up to post bond, defense lawyer Mark O'Mara said last week.

Zimmerman has been in hiding since the case drew national attention, and he has solicited the money not only for legal fees but for living expenses. O'Mara said the money has been put into a trust he controls, and his team announced Tuesday that a former IRS agent has been hired as a third-party administrator to handle the funds.

"The fund's administrator will have sole discretion regarding the dispersal of funds, and guidelines will be put in place to define reasonable living expenses for Mr. Zimmerman and his family and to fund necessary legal expenses," the defense team reported on its website. "Neither Mr. Zimmerman nor The O'Mara Law Group will have direct access to the funds."

Donors' names are not being disclosed.

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