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Sec. 2.76.150. Cemetery Fund and Cemetery Perpetual Ceare Ffund. <br /> A. The cemetery fund is established as a special revenue fund <br /> to account for funds used for care, operation, maintenance, improvement <br /> and expansion of the Louisville Cemetery and other cemetery purposes <br /> and expenses. The cemetery perpetual care fund is established as a <br /> permanent fund to support perpetual care and maintenance of the <br /> Louisville Cemetery_ <br /> B. The city finance director treasurer shall place fifty percent <br /> of the money derived from the sale of grave spaces in lots in a separate <br /> fund to be know as-the cemetery perpetual care fund and shall invest <br /> the money of the fund in securities. The interest derived therefrom shall <br /> be used exclusively to support care and maintenance of the Louisville <br /> Cemetery. Unless otherwise provided by ordinance, there shall be <br /> maintained in the cemetery perpetual care fund a minimum principal <br /> balance of $300,000. As authorized by city council, principal fund <br /> balances in excess of such amount may be transferred to the cemetery fund <br /> for care, operation, maintenance, improvement and expansion of the <br /> Louisville Cemetery and other cemetery purposes and expenses. in caring <br /> for the lots thus endowed, and under no circumstances shall the principal <br /> be used for any othe <br /> Section 3. There is hereby transferred from the Cemetery Perpetual Care Fund to the <br /> Cemetery Fund the amount of$284,730 to be used for funding of Louisville Cemetery Master <br /> Plan improvements beginning in 2009. <br /> Section 4. If any portion of this ordinance is held to be invalid for any reason, such <br /> decision shall not affect the validity of the remaining portions of this ordinance. The City Council <br /> hereby declares that it would have passed this ordinance and each part hereof irrespective of the fact <br /> that any one part be declared invalid. <br /> Section 5. The repeal or modification of any provision of the Municipal Code of the <br /> City of Louisville by this ordinance shall not release, extinguish, alter, modify, or change in whole <br /> or in part any penalty, forfeiture, or liability, either civil or criminal, which shall have been incurred <br /> under such provision, and each provision shall be treated and held as still remaining in force for the <br /> purpose of sustaining any andl all proper actions, suits, proceedings, and prosecutions for the <br /> enforcement of the penalty, forfeiture, or liability, as well as for the purpose of sustaining any <br /> judgment, decree, or order which can or may be rendered, entered, or made in such actions, suits, <br /> proceedings,or prosecutions. <br /> Section 6. All other ordinances or portions thereof inconsistent or conflicting with this <br /> ordinance or any portion hereof are hereby repealed to the extent of such inconsistency or conflict. <br /> 2 <br />