(A) (1) The Board of Managers is hereby authorized and empowered to receive and hold in perpetual trust any sums of money not less than $50, or any funds, securities, notes or property of any kind the value of which shall be not less than $50, given donated, executed, devised or bequeathed to it in trust by any person or persons whomsoever, for the maintenance, care, repair, upkeep or ornamentation of said cemetery, or any lot or lots, or grave or graves in the cemetery, specified in the instrument or instruments making such gifts, donations, devises or bequests, as authorized and provided by statute of the state.
(2) The Board of Managers shall have the right to convert the property into money and shall invest the proceeds thereof, and the money so given, donated and bequeathed to it, in safe interest or income paying securities, to be approved by the City Council. The principal of such trust fund shall be kept intact, and perpetually invested, and the income thereof shall be perpetually applied, by the Board of Managers, for the purposes specified in the instruments making such gift, donations, devises and bequests and for no other purpose.
(B) The Board of Managers shall have the care, charge, management and control of the Montrose Cemetery under the supervision of the City Council and the City Manager.
(C) Any trust executed to the Montrose Cemetery, by its name, shall vest in the Board of Managers and take effect to all intents and purposes as if executed to the Board.
(D) The Board of Managers may make and adopt such reasonable rules, by-laws and regulations as to it may seem expedient and advisable for its own guidance and operation in carrying out the intent and purposes of this chapter, not inconsistent with the ordinances of the city and the statutes of the state.
(2000 Code, § 92.18) (Ord. 859, passed 1-11-1977)