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City of Excelsior Springs, MO
Clay County
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Table of Contents
Table of Contents
[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.