§ 6-11. Prices of lots.

Sale of land shall be by single space, four single spaces (or one-half a lot) or eight single spaces (or one full lot). Cost shall be $125.00 per space. The money received from the sale of spaces shall be used as follows:

(1)

One hundred twenty-five dollars of the sale price of each space shall be allocated to the perpetual care account on the general fund balance sheet. A perpetual care reserve account shall also be created as a liability on the general fund balance sheet to further segregate these funds.

(2)

The monies in the perpetual care account shall be invested to allow interest income to be earned.

(3)

One-half of the interest earned shall accrue to the general fund to be used for routine cemetery maintenance. The remaining one-half shall be retained in the cemetery perpetual care account.

(4)

This account is intended to contribute to the perpetual care of the city cemeteries. However, when deemed appropriate by the cemetery board and city council, these monies may be used for future cemetery land purchases and decorative projects. Such amounts shall not exceed 25 percent of the perpetual care balance at the time.

(Ord. No. 3339, § 1, 9-16-96; Ord. No. 4027, § 1, 10-16-06)