[HISTORY: Adopted by the Town of Putnam 10-2-1916 ATM. Amendments noted where applicable.]
The Town will accept, upon request, from time to time any and all funds from any person, association or corporation, provided by will, gift or otherwise, for the care of any cemetery in the Town of Putnam, or any lot therein.
The Town shall pay interest thereon at the rate of 4% per annum, payable semiannually.
In the case of the deposit of any such fund by any cemetery association, the income of such fund shall be paid to such association, on demand, to be expended by it. In the case of the deposits by other persons, associations or corporations, the income of any such fund, or such part as shall be necessary, shall be paid to the association having charge of the cemetery or lot for the benefit of which such fund is given, or if there be no such association in charge of such cemetery or lot, or so much as may be necessary, shall be expended on such cemetery or by the Selectmen.
The Town Treasurer is hereby authorized to accept all such funds as may be offered from time to time. He shall issue a proper voucher to the person, association or corporations depositing the same, and he shall immediately notify the Selectmen of the receipt of every such fund, and the purpose for which the same is to be used. All such funds shall be used by the Town for such purposes as ordinary loans to the Town would be used, or may be invested, if not needed by the Town as a loan in legal trust funds. A separate account of all such funds shall be kept by the Town Treasurer and rendered annually and shall be printed in each Annual Town Report.