[R.O. 2012 §155.190; Ord. No. 91-9-7 §1, 9-16-1991]
A trust and agency fund is hereby established for the preservation,
care, upkeep, and adornment of the Woods Memorial Park. Said fund
shall be known as the Woods Memorial Fountain Perpetual Care Fund.
[R.O. 2012 §155.200; Ord. No. 91-9-7 §2, 9-16-1991]
The City of Excelsior Springs may, by ordinance, accept any
gift, bequest, or donation to such fund, and shall, by said ordinance,
direct the Treasurer to place such money or funds to the credit of
the Woods Memorial Fountain Perpetual Care Fund.
[R.O. 2012 §155.210; Ord. No. 91-9-7 §3, 9-16-1991]
A.
Monies and funds so placed in such Woods Memorial Perpetual Care Fund shall be managed and invested in conformance with Chapter 135, "Cash Management", of this Code.
B.
The
management of funds by the City of Excelsior Springs shall be conducted
in a manner which is consistent with prevailing prudent manner business
practices. The investment of funds held in the City's possession in
a fiduciary capacity, shall be made with the exercise of that judgment
and care, under circumstances then prevailing, which men of prudence,
discretion, and intelligence exercise in the management of their own
affairs, not for speculation, but for investment, considering the
probable safety of their capital, as well as the probable income to
be derived.
[R.O. 2012 §155.220; Ord. No. 91-9-7 §4, 9-16-1991]
A.
Income
derived from the investment of funds shall be expended solely for
the preservation, care, upkeep, and adornment of the Woods Memorial
Fountain and for no other purposes whatsoever.
B.
The
principal of said fund shall not be encroached upon for any purpose
whatsoever and shall not be transferred out of such perpetual care
fund except for the purpose of being invested as provided above.
