There is created a special fund to be under the supervision of the cemetery committee which shall be known as the perpetual care fund. There shall be set aside from the sale of each lot in Eloy memorial park, ten percent (10%) of the sale price, which shall be deposited in said perpetual care fund. Said perpetual care fund shall be held separate and apart from all other monies of the city, and shall constitute a trust fund. The cemetery committee shall also be authorized to receive by gift, donation, or devise, or from any other sources, monies to be deposited in the perpetual care fund, and may in its discretion authorize the transfer to said perpetual care fund of any surplus arising out of the operation of Eloy memorial park. The monies in said perpetual care fund shall, upon order of the cemetery committee be invested in interest bearing securities of the United States, this state, and the political subdivisions of this state, and in such other interest bearing securities as are permitted for investment by corporate fiduciaries under the provisions of the laws of this state. (Ord. 53 § 6, 5-14-1956)