The Commissioner of Park Maintenance and Properties may at his or her discretion accept an initial payment on the price of the lot in an amount not less than half the total price, nor in any case less than the land cost apportioned to the lot. Payment of the remainder of the price shall be secured by agreement as the Commissioner, with the approval of the Director of Public Works, deems reasonable. The agreement shall be in form prescribed and approved by the Director of Law, and shall require the payment to the City for the benefit of the Cemetery Operating Fund of interest at the rate of six percent (6%) per annum on the deferred portion of the price, and for the reduction from time to time of the deferred portion by payments not less frequent than semi-annually, nor shall the payment of any portion be deferred longer than five (5) years. The entire amount unpaid shall become due and payable before any interment is permitted in the lot, but the payment may be waived, and the agreement continued upon terms approved by the Directors named in this section.
(Ord. No. 957-11. Passed 10-24-11, eff. 10-26-11)