§ 6-6. Capital improvement fund.

(a)

Created; use of funds; investment of funds. All money received from the sale of lots and other income from a city cemetery, exclusive of those amounts referred to in subsection 6-7(a), shall be deposited in a separate fund referred to as the cemetery capital improvement fund. The income and principal of the fund shall be used for such capital improvements and repairs to a city cemetery as the public properties committee of the city council shall from time to time deem necessary. In addition, the committee shall have the discretion to use such sums from the income and principal of the fund for the usual and customary maintenance and care of such portions of a city cemetery with respect to which trust funds, as provided in subsection 6-7(a), are not available. The committee shall invest the funds from time to time constituting the cemetery capital improvement fund in good securities, authorized by the laws of the state for the investment of trust funds, to be approved by the mayor and finance committee of the city council. The cemetery capital improvement fund shall be kept by the city treasurer. No portion of the income and principal from time to time constituting the cemetery capital improvement fund shall be used for purposes other than the city cemeteries.

(b)

Annual report. The city treasurer shall, in his annual report, give a detailed statement of the amount of securities in the cemetery capital improvement fund and the income received from the securities during the year.

(Ord. No. 82, §§ 14.19, 14.20, 6-21-76)