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3530 Fund Cemetery Property0 0 (Published in The Salina Journal1928) O3DIN�CE PTO. 3530 An Ordinance providing; for and authorizing the creation of trust funds to be used in improving, maintaining and caring for the lots, graves, monuments, vaults or other cemetery property of lot owner s in Gypsum Tull Cemetery, providing for the holding of such funds in trust by the City o: Salina and the manner of handling and expending the income therefrom. BE TT OHDAI=D by the Board of Commissioners of the City of Salina, Kansas: SECTION 1. That whenever any person shall desire to place or de- posit with the City of Salina any money or securities to be used in improving, maintaining and caring for any lot, grave, monument vault or other cemetery property of any lot owner in Gypsum Hill Cemetery, such person shall execute a trust deed to t':e City of Salina, describing the money or property so placed or deposited in trith said city and describing the lot, grave, monument vault or other cemetery property of any lot or:ner which he desires to have improved, maintained and cared for, together ;rith the de- scription of the lot or Dart of a lot upon which the same is situated and which trust deed shall authorize the city as trustee to invest or reinvest such money or the proceeds of any such securities in state, county or city bonds or other securities approved by the governing body of such city and to use the income therefrom for the purposes mentioned in such trust deed. SECTION 2. The City Clerk shall keep suitable records relating to any trust fund placed or deposited with the City of Salina in accord- ance with the provisions of this ordinance, and shall record therein any such trust deed and the approval of the same by the Board of Commissioners, and shall deliver to the City Treasurer any such moneys or securities so deposited, or placed with the city under any + such trust deed, -nd shall record the receipt of the City Treasurer for such money or securities. SECTION 3. The City Treasurer shall be the custodian of any money or securities deposited or placed with the City of Salina under any such trust deed and shall invest or reinvest the same or the proceeds i. in c 2. thereof in such securities as shall be approved by the Board of Commissioners of said city, and the income from any such trust fund shall be and the same is hereby appropriated by the Board of Commissioners to the Board of Directors of the Bypsum Hill Cemetery to.be used by them in improving, maintaining and caring for.the lots, monuments, vaults, or other cemetery property described in any such trust deed and the Board of Directors of said cemetery shall expend any money so anpropriated,.and paid to them by the City Treasurer .out of the income of any such trust fund, only for the purpose of improving, maintaining and caring for any such lot grave, monument, vault or other cemetery property in accordance with the provisions of the trust deed relating thereto. SECTION 4. Whenever any money is paid to and used by the Directors of said cemetery from the income of any such trust fund, they shall make a record of the same showing the date and emount thereof and the manner in which the same was expended and shall certify the .f same to the City Clerk who shall make a record thereof in his books kept for such purpose. SECTION 5. Any negotiable securities placed or deposited with fthe city for the purposes provided for in this ordinance, or in which I any money placed or deposited with the city shall be invested, may fbe placed by the City Treasurer in the custody of the State Treasurer of the State of Kansas at Topeka, for safe keeping, in accordance ` with the provisions of Chap. 103 of the Laws of Kansas 107 and the State Treasurer shall issue a receipt therefor and shall retain such possession as custodian thereof, subject to the order of the govern- ing body of said city, provided that the City of Salina shall have the bower and right to receive periodically the income from any such securities and may at any time procure the return of such securities either in whole or in part for the purpose of reinvesting the funds or otherwise preserving and caring for the same. 11 3. SECTIOly 6. Any money which may be accumulated under the pro- visions of this ordinance shall be known as the Gypsum Hill Lot Owners Endomient Fund, and the principal thereof shall be kept irk,,tact and only the income therefrom or accretions thereto shall be used for the purposes specified in this ordinance. SECTION 7. This ordinance shall take effect and be in force from and after its publication in the official city paper. Introduced April 30th,. , 1928. Passed May 7th , 1928. tayor. . Attest. �Gvrri City Clerk.