The City Finance Director shall invest such funds and keep them invested in interest-bearing debts of the City, and if no such debts are owed by the City, then in safe interest-bearing bonds, or in interest-bearing certificates of deposit in financial institutions within this State authorized by law to accept deposits and subject to inspection by either the United States or this State. All such money and the income thereof shall be exempt from taxation, the same as other cemetery property.
(Ord. 10-02. Passed 2-18-02.)