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ORDINANCE NO. 1430 <br />SERIES 2003 <br /> <br />AN ORDINANCE AMENDING SECTION 2.76.060 AND SECTION <br />2.76.150 OF THE LOUISVILLE MUNICIPAL CODE; CLARIFYING <br />THE ALLOWED USE OF FUNDS RECEIVED FROM THE SALE OF <br />CEMETERY LOTS; AND, SETTING FORTH DETAILS IN <br />RELATION THERETO. <br /> <br /> WHEREAS, the City Council of the City of Louisville, Colorado wishes to <br />amend Section 2.76.060 "Price of spaces," and Section 2.76.150, "Perpetual care fund" of <br />the Louisville Municipal Code to allow for the deposit of 50% of the revenue from the <br />sale of cemetery lots to be used for caring for the cemetery; and <br /> <br /> WHEREAS, the City Council desires to insure that the remaining 50% of the <br />proceeds from the sale of cemetery lots will continue to be deposited in the city's <br />"cemetery perpetual care" fund; and <br /> <br /> WHEREAS, the City Council has determined that it is in the best interest of the <br />citizens of the City to amend the Louisville Municipal Code as set forth herein below: <br /> <br /> NOW THEREFORE BE IT ORDAINED BY THE CITY COUNCIL OF <br />THE CITY OF LOUISVILLE, COLORADO: <br /> <br />hereby <br />deleted <br /> <br /> Section 1. Section 2.76.060 of the Louisville Municipal Code is <br />amended to read as follows (words to be added are underlined; words to be <br />are stricken through): <br /> <br />Sec. 2.76.060. Price of spaces. <br />The sale price of grave spaces, including perpetual care, shall be established by <br />the '~:'~+^' cfpark~ ~"'~ ......':~ <br /> .................... n director of land management. Of the proceeds <br />from the sale of lots, 50% shall be placed in the City's "cemetery perpetual care <br />fund," and 50% shall be placed in the city's "Cemetery Fund" to be spent in <br />caring for the cemetery. <br /> <br /> Section 2. Section 2.76.150 of the Louisville Municipal Code is <br />hereby amended to read as follows (Words to be added are underlined; words to be <br />deleted are stricken through): <br /> <br />Sec. 2.76.150. Perpetual care fund. <br />The city treasurer shall place 50% of the money derived from the sale of lots in a <br />separate 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 be used <br />in caring for the lots thus endowed, and under no circumstances shall the principal <br />be used for any other purpose whatsoever. <br /> <br /> <br />