Kansas Statutes § 12-1410 Same; use and investment of funds.
AI-assisted research summary: Money in the cemetery endowment fund must be invested in authorized investments, and only the earnings may be spent for cemetery care and improvements.
12-1410. Same; use and investment of funds. All funds raised by popular subscription or profits or surplus set aside for such endowment fund as provided in this act shall be invested in investments authorized by K.S.A. 12-1675, and amendments thereto, in the manner prescribed therein or in state, county or municipal bonds, bonds of the United States of America or any bonds guaranteed, both as to principal and interest, by the United States of America, and the interest accruing therefrom, from such investment shall annually be expended for caring for graves, beautifying and improving such cemetery; but in no case shall such fund be depleted or lessened, and nothing but its earnings, as they accumulate annually, shall be expended for any purpose whatsoever, except as specified above, and such endowment fund shall be for the purpose prescribed in this act and its earnings expended in the manner prescribed forever. The governing body of any city may by resolution passed by a majority vote of such governing body, transfer such endowment fund to the general cemetery fund and expend the same for permanent improvements or care and maintenance, except that any part of such fund donated by popular subscription or given by any donor by gift, grant or will, shall not be transferred to such general cemetery fund but the same shall remain as a permanent endowment fund as hereinbefore prescribed in this section. History: L. 1917, ch. 83, § 3; R.S. 1923, § 12-1410; L. 1935, ch. 99, § 1; L. 1939, ch. 99, § 1; L. 1957, ch. 95, § 1; L. 1977, ch. 54, § 8; L. 1982, ch. 72, § 5; July 1.