A special fund will be set up, separate from all other funds of the city, and designated as the "City of Carlin Perpetual Cemetery Care Fund". This fund is to be established from revenues paid to the city for cemetery lots, opening and closing graves, grants, endowments or from any other source. This fund is to be established for funding perpetual care of the city cemetery. (Ord. 61, 12-9-1970)
(A) All funds received shall be deposited in a special account at a banking institution, savings and loan or other investment institution to be decided upon by the board of councilmen of the city of Carlin. (Ord. 142, 3-27-1985, eff. 4-3-1985)
(B) No expenditures from said special account shall be made against the fund or earnings accrued, for a period of ten (10) years, to commence from the effective date hereof.
(C) After said ten (10) year period, the earnings only, which accumulate, can be withdrawn from the special account and deposited to the general fund, to be used as revenue to pay for such perpetual cemetery care. In no instance may the principal be withdrawn from said account, which shall be left to perpetuate itself, to thus guarantee forever, perpetual care for the city cemetery. (Ord. 61, 12-9-1970)