(a) A trust fund is established with Firstar Bank serving as trustee of a fund known as the Village Chestnut Hill Cemetery Endowment Fund.
(Ord. 2001-64. Passed 12-29-01.)
(b) Current liquid assets in the form of certificates of deposit representing investments of the Cemetery Board shall be held in trust by the trustee to be invested and reinvested in compliance with trust agreement.
(c) Funds received by the Village Clerk as part of the Chestnut Hill Endowment Fund shall be deposited with the trustee to be placed in this trust account.
(d) Expenditures or withdrawals from the trust fund will require a written request by the Board of Cemetery Trustees to the Village Council and approval of Village Council of such requests.
(Ord. 82-13. Passed 8-3-82.)