There shall be established the Cemetery Care Fund into which not less than 25% of all money received from the sale of lots and interment shall be segregated and set aside as a permanent fund to be known as “The Cemetery Care Fund.” The fund shall be expended in purchasing of land for cemeteries, and for making capital improvements, as defined in 11 O.S. § 17-110, if necessary. The Cemetery Care Fund to be invested as provided by applicable state law and city ordinance and resolution. The earnings from the investment shall be used for the same purposes as the principal or in improving, caring for and embellishing the walks, lots, drives, parks and other necessary improvements.
(Prior Code, § 12-308) (Ord. 1604, passed 1-19-99)
Statutory reference:
Perpetual care fund, see 11 O.S. §§ 26-201 to 26-209