17-1338.   Same; permanent maintenancefund; use and investment.Any such cemetery district may receive, acquire and hold donations orbequests for a permanent fund, the income from which shall be used by suchcemetery district in defraying the expenses incurred in keeping the lotsand grounds of such cemetery in proper and suitable condition. Suchpermanent fund may be invested as the donor may direct or if the donor hasnot specified, such fund may be invested in investments authorized by K.S.A.12-1675, and amendments thereto, in the manner prescribed thereinor in any municipal bonds of this state orbonds of the United States except bonds of any municipality of this statewhere the bondedindebtedness thereof shall exceed fifteen percent of its total assessedvaluation as shown by the last assessment preceding such investment.

      History:   L. 1938, ch. 39, § 3; L. 1977, ch. 54, § 22; July 1.