HomeMy WebLinkAboutOrdinance No. 924 ORDINANCE NO. 924
AMENDING SECTION 12.04.050, OF THE LAUREL MUNICIPAL
CODE, ALLOWING USE OF PERPETUAL CARE FUNDS FOR CAPITAL
PURCHASES UNDER CERTAIN CONDITIONS
IT IS HEREBY ORDAINED by the City Council of the City
of Laurel, Montana, that Section 12.04.050 of the Laurel
Municipal Code is hereby amended to read as follows:
Section 12.04.050. Perpetual Care Fund.
1. There is hereby created a fund to be known as the
Cemetery Perpetual Care Fund. The fund shall remain intact
except as provided below, and shall be invested for the purpose
of acquiring income for the maintenance of the Laurel Cemetery,
and the uniform care of the lots under such Perpetual Fund.
2. Twenty-Five percent (25%) of the proceeds received
from all sales of lots in the Laurel Cemetery shall be
deposited to the Cemetery Perpetual Care Fund.
3. Income from the Cemetery Perpetual Care Funds shall
be used for regular annual maintenance and care of the cemetery.
4. No part or portion of the principal in the Cemetery
Perpetual Care Fund shall be used for any purpose other than
for capital purchases or capital improvements to or for the
benefit of the Laurel Cemetery, and all principal so used shall
be reimbursed to the fund, in full, over a period not to exceed
Five (5) years. No part or portion of the fund principal shall
be used for said purposes except upon passage of a resolution
specifying the capital purchase or capital improvement, the
cost thereof, the amount of fund principal to be used, and the
rate and terms of reimbursement of said amount to the fund.
-1-
The resolution shall be required to pass the Council upon
affirmative vote of not less than three-fourths (3/4) of
the full membership of the Council, and it shall be approved
by the Mayor. The Council shall have discretion in specifying
the rate and terms of reimbursement to the Fund over a maximum
of Five (5) years, and may specify that reimbursement will
include interest.
5. This ordinance shall become effective thirty (30)
days after final passage and approval.
Introduced and passed on first reading at a
meeting of the City Council on
Alderman Dickerson
October 6
regular
~ 1987 by
PASSED and ADOPTED by the Laurel City Council on second
reading this 20th day of 0etnh~
APPROVED by the Mayor this 20th
1987.
· 1987.
, day of Oetnhs~
Rdbert Gauthier,
ATTEST:
Donald L. Hackmann, City Clerk
Mayor
-2-