A. Creation And Use Of Fund: Consistent with state law 1 , the following provisions are hereby established governing the creation and use of the municipal cemetery capital improvements fund:
1. All monies received from donations for the municipal cemetery shall be segregated and set aside as a permanent, nonfiscal, municipal fund to be known as the "cemetery capital improvements fund". The fund shall be placed in an insured, interest bearing account.
2. The cemetery capital improvements fund shall be expended in making capital improvements to cemetery and cemetery related facilities, when necessary, under the direction of the city council.
3. No funds may be appropriated or expended from the cemetery capital improvement fund until claims duly verified by affidavit are presented to, and approved by, the city council, and a recorded vote taken thereon.
B. Additional Guidelines: Consistent with the provisions of this section and said 11 Oklahoma Statutes sections 17-109 and 17-110, the city council may also, by motion, resolution or ordinance, enact additional guidelines or requirements governing the operation of this fund.
C. Use Of Interest Only: The city council hereby directs that only the interest from said fund be used in making expenditures for cemetery facilities of the city. The principal amount shall remain unused in order to develop the capacity for the fund to become financially self-sufficient. (1991 Code § 16-104; amd. 2013 Code)
Notes
| 1 | 1. 11 OS §§ 17-109, 17-110. |