(A) A Perpetual Care Trust Fund is established for cemetery maintenance in accordance with G.S. § 160A-347.
(B) The principal amount of this Fund will be held in perpetuity.
(C) Funds from the sale of all cemetery lots sold will go into the Trust Fund.
(D) All interest earned on the account shall be used solely for the care and maintenance of Sparta Cemetery or left in the Trust Fund to increase the Trust Fund principal.
(E) The Trust Fund will be maintained in a separate account from other town funds.
(F) Annual interest earnings will be transferred to the town operations account for the purpose of paying bills.
(G) Maintenance and upkeep will be paid from the town operations account. Improvements will be approved by the Town Council and paid for by special allocation.
(H) Repairs to monuments and markers will be made at the owners expense.
(I) Funds collected from permits will be placed in the general fund and used toward cemetery upkeep.
(Ord. passed - - )