Chapter 4.16
ENDOWMENT CARE
Sections:
4.16.020 Endowment care fund established.
4.16.010 Income.
The city is authorized to accept, take, hold and expend any grant, devise or bequest for improving any of its cemeteries or lot or lots therein, and to place all money it receives under this section in the regular cemetery fund, and to expend the same in the manner or form consistent with the design and purpose of this chapter and in accordance with the terms of such grant, devise or bequest. (Ord. 16-16 § 4, 2016; Ord. 5-96 § 2, 1996).
4.16.020 Endowment care fund established.
The money generated from the sale of lots as referenced in BMC 4.12.010 and any grant, devise or bequest made and mentioned in BMC 4.12.020 shall be placed in a fund established in the treasury of the city known as the cemetery endowment care fund. The principal of the trust shall be kept intact and not diminished, except such principal may be used in the construction of capital construction improvements such as roadway replacement/repair, columbarium and/or a mausoleum construction, etc., at the cemetery. Income generated by the fund shall be placed in the regular cemetery fund and used solely for the general care, maintenance and embellishment of the cemetery. The city council shall be the trustees for the fund. (Ord. 16-16 § 4, 2016; Ord. 5-96 § 2, 1996).
4.16.030 Recordkeeping.
An annual report, verified on oath by the city’s finance officer showing the actual financial condition of the fund, shall be kept on file at City Hall. The annual reports are to be kept on file for seven years. (Ord. 16-16 § 4, 2016; Ord. 5-96 § 2, 1996).