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HomeMy WebLinkAboutORD 6140 0 Ordinance No. 614 Hill No. 25 AN ORDINANCE TO AMEND SECTION 17 OF ORDINANCE N0, 211 AS ADDED BY ORDINANCE NO. 296 SO AS TO PROVIDE THAT PRINCIPAL AND INTEREST OF "CEMETERY PERPETUAL SINKING FUND" MAY BE EXPENDED ONLY FOR PERMANENT IMPROVEMENT UPON ORDER AND UNDER SUPERVISION AND DIRECTION OF THE MAYOR AND COUNCIL AND AMEND - ING SECTION 26 OF ORDINANCE 90. 211 AS ADDED BY ORDINANCE NO. 256; CREATING THE "CEMETERY LOT PERPETUAL GARB FUND" AND PRO- VIDING FOR THE INVESTMENT OF SUCH FUND IN BONDS AND WARRANTS APPROVED BY THE MAYOR AND COUNCIL AND .PROVIDING FOR THE APPOINTMENT OF THE INCOME FROM SUCH FUND BY THE CITY TREASURER. Be it ordained by the Mayor and Council of the City of Caldwell, Idaho: Section 1. That Section 17 of Ordinance Me. 211 as added by Section 2 of Ordinance No. 296 be and the same is hereby amended to read as follows: Section 17. There is hereby created a "CENETERY PERPETUAL SINKING FUND" to which one -half of all moneys received for lots and permits, except as hereinafter provided, shall be apportioned, together with all donations wade to said fund, and all moneys apportioned to said fund shall be invested by the City 'Ttedsurar in'.warrante:. er- �bo3nds approved by the Mayor and Council. The said warrants and bond -a so shall at once be endorsed as belonging to the Cemetery Perpetual Sinking Fund and immediately deposited in the custody of the Treasurer, the Cleric taking a receipt therefor to be by him filed and recorded and kept to- gether with other papers and records of the cemetery. The interest and income from investments of the moneys in said fund shall be eredited to and be a part of "Cemetery Perpetual Sinking Fund." The moneys in said fund shall be expended 'only upon the order and under the direction of the Mayor and Council and no expenditure shall be made from such fund except for preserving, protecting, ornamenting, improving and laying out of the cemetery grounds, all of sueh improvements to be of a permanent improvement mature. Section That Section 26 of Ordinance No. 211 as added by • • Section 8 of Ordinance $e. 296 be and the same is hereby ascended to read as. follows; Section 26. There is hereby created a "CEMETERY LOT PERPETUAL CARE FUND" to which all moneys received for the sale of lets and for perpetual care as is provided in Sections °24 and 25 of this ordinance, shall be apportioned, and the money apportioned to said cemetery lot perpetual care fined, shall be kept separate and apart from other moneys of said City. The City Treasurer shall invest the money in the "Cemetery Lot Perpetual Care Fund" in bonds and warrants approved by the Mayor and Council of the City of Caldwell. Upon the investment to such sums as herein before provided the City Treasurer shall have the custody of the bonds and warrants in which such sums are invested, and said bonds and warrants shall be deposited by said Treasurer and kept by him in a safety deposit vault of one of the designated City Depositories; and it is hereby made the duty of the Treasurer to include In each and every report, required by law to be made by said Treasurer to the City Council, a statement setting forth in particular the securities acquired and held by him as above provided. It shall be the duty of the City Treasurer to collect at the proper time all interest that may be due on isiveetscents of the said cemetery* let perpetual care fund, and to report said collections to the City Clerk, who shall apportion such interest to the Cemetery Fund. Section 3. That this ordinance will be in full force and effect from and after its passage and approval and publication in book form as provided in Ordinance Ito. 691. PASSED BY THE COUNCIL, this day of � 1942. APPROVED BY THE MAYOR, this day of ✓._ �, <„ . � 1942. r/ 2 and last.