(A) The city shall have the power and is authorized to accept gifts, donations, bequests of money or property, real or personal, to be used in providing special care of individual lots in Greenwood Cemetery in perpetuity, in addition to the general care now provided by the city, and any gifts, donations, bequests or devises as may be accepted or received by the city by virtue of this section, or any income or interest derived therefrom shall be used by the city in the manner as hereinafter provided.
(B) It shall be the duty of the Clerk-Treasurer to keep any sums so received in a separate Fund to be known as the Cemetery Perpetuity Fund, and shall keep the Fund and any accretions thereto on deposit in an authorized depository or depositories of the city until a time as the Fund shall become sufficient to justify investing the same as hereinafter provided.
(C)
The Clerk-Treasurer of the city shall invest all such funds in the permanent maintenance fund for the care of individual lots of Greenwood Cemetery in compliance with Indiana law and Indiana statutes as such are amended from time to time. The existing investments of such funds should be continued until such time as those investments mature, and thereafter the Clerk-Treasurer shall invest in compliance with Indiana state laws regarding such investments.
(D) The city hereby pledges itself, and agrees to use the income from any gifts, donations, bequests or devises, if sufficient, to care for the graves on the lots of the donors or as by the donors specified, and the grass, flowers and shrubs thereon, and to provide for the cleaning, maintenance and repair of the monuments, markers and mausoleums thereon situated, thereby pledging the city to provide special care of individual lots in Greenwood Cemetery in perpetuity, in addition to the general care now provided by the city. If the income is insufficient to provide all care necessary, then the city shall expend any income in providing care as may be most needed or imperative, and in the event the income from any gift, donation, bequest or devise is more than sufficient to provide all care that may be needed for the individual lot for which the donation is given, then the city will, and reserves the right to, transfer the surplus into the City General Fund for the maintenance, care and upkeep of Greenwood Cemetery.
(`81 Code, §8-3) (Ord. 219, passed 1-27-1931; Am. Ord. 1022, passed 11-2-2009)