17-1338. Same; permanent maintenance fund; use and investment.
17-1338
17-1338. Same; permanent maintenance
fund; use and investment.
Any such cemetery district may receive, acquire and hold donations or
bequests for a permanent fund, the income from which shall be used by such
cemetery district in defraying the expenses incurred in keeping the lots
and grounds of such cemetery in proper and suitable condition. Such
permanent fund may be invested as the donor may direct or if the donor has
not specified, such fund may be invested in investments authorized by K.S.A.
12-1675, and amendments thereto, in the manner prescribed therein
or in any municipal bonds of this state or
bonds of the United States except bonds of any municipality of this state
where the bonded
indebtedness thereof shall exceed fifteen percent of its total assessed
valuation as shown by the last assessment preceding such investment.
History: L. 1938, ch. 39, § 3; L. 1977, ch. 54, § 22; July 1.