§ 11-26-109. Cemetery Care Fund - Purchase of lands - Investment of fund.

In all municipally owned cemeteries where lots are sold or charges made for interments, not less than twelve and one-half percent (12.5%) of all monies received from the sale of lots and interments shall be segregated and set aside as a permanent fund to be known as the "Cemetery Care Fund".  The Cemetery Care Fund principal shall be expended for purchasing lands for cemeteries and for making capital improvements as defined in Section 17-110 of this title, if necessary.  The balance of the fund may be invested in the manner provided by law for investment of municipal funds.  The interest from the investments shall be used for the same purposes as the principal or in improving, caring for, and embellishing the lots, walks, drives, parks, and other necessary improvements on such cemeteries.

Added by Laws 1977, c. 256, § 26-109, eff. July 1, 1978.  Amended by Laws 1984, c. 126, § 52, eff. Nov. 1, 1984; Laws 1991, c. 124, § 14, eff. July 1, 1991; Laws 1993, c. 23, § 1, eff. Sept. 1, 1993.