(a) Establishment; Purpose. There is hereby established, pursuant to the provisions of Section 16-242, Revised Statutes of Nebraska, 1943, Reissue of 1974, as amended, a Perpetual Care Fund for the care, ornamentation and maintenance of that cemetery owned and operated by the City which is known as Greenwood Cemetery.
(b) Funds to be Placed in Account; "Infant Lots" Defined. Beginning with the effective date of this section (Ordinance 778, passed July 28, 1969), one-half of the sale price of all cemetery lots, except lots for infants, and one-third of the sale price of infant lots, as such prices are from time to time established by resolution of Council, shall be set aside and placed in a separate, account to be known as the Greenwood Cemetery Perpetual Care Fund. "Infant lots," for purposes of this Fund, means burial sites for infants' caskets which do not exceed thirty-six inches in length.
(c) Investment of Principal; Use of Income. The principal of such Fund shall be invested in any securities in which the City may now be or hereafter is authorized to invest its surplus funds. The income from such Fund shall be used for the care, ornamentation and maintenance of the Cemetery and the lots therein.
(d) Clerk-Treasurer to be Custodian. The Clerk-Treasurer shall be the custodian of such Perpetual Care Fund and the principal of such Fund shall be invested as provided in subsection (c) hereof by such Clerk-Treasurer in consultation with the Mayor.
(e) Receipt of Donations, Bequests, Etc. The City is authorized to receive from any source, by donation, bequest or otherwise, other funds which may be added to such Perpetual Care Fund to be held in trust in perpetuity with the income therefrom to be used as hereinbefore provided. Any donor of such funds shall be privileged to designate the particular property for the care, ornamentation or maintenance of which the income from the donated fund shall be used.
(Ord. 778. Passed 7-28-69.)