Ordinance 25960006.12022
06/04/86
WSS/naa
R: 10/07/86
ORDINANCE NO. 2596
AN ORDINANCE OF THE CITY OF EDMONDS, WASHINGTON,
AMENDING SECTION 10.16.050 TO CREATE A NON -
EXPENDABLE CEMETERY MAINTENANCE TRUST FUND,
PROVIDING FOR THE CONSTITUTION OF SAID FUND AND
EXPENDITURES THEREFROM, PROVIDING FOR THE
INVESTMENT OF THE TRUST FUNDS AND FIXING A TIME
WHEN THE SAME SHALL BECOME EFFECTIVE.
WHEREAS, the City of Edmonds currently maintains a
public cemetery, and
WHEREAS, at some future date it can be anticipated that
all lots within the cemetery shall be sold and a source of stable
funding for maintenance will be needed, and
WHEREAS, the City Council wishes to establish a
nonexpenditure trust fund for the purpose of accumulating
principal in order that future maintenance of the cemetery may be
accomplished without, or with a minimum expenditure of general
public revenues, NOW, THEREFORE,
THE CITY COUNCIL OF THE CITY OF EDMONDS, WASHINGTON, DO
ORDAIN AS FOLLOWS:
Section 1. Section 10.16.050 of the Edmonds City Code
relating to funds established for the improvement and maintenance
of the cemetery is hereby amended to read as follows:
10.16.050 Funds for Improvement and Maintenance of the
Cemetery.
1. There are hereby created two special funds of the
City to be known as the Cemetery Improvement Fund and
the Cemetery Maintenance Trust Fund. The City Council
shall, each year, as a part of the budget process,
allocate revenue from lot sales, burial fees, and all
bequests, gifts and donations received with respect to
the cemetery on a percentage basis to said Funds.
a. The Cemetery Improvement Fund shall be used
for special projects, special events, capital
improvements and other nonrecurring needs of the
cemetery. Expenditures from this Fund may be made from
both principal and income and the entire amount of said
fund may be expended in any year when such expenditures
are within the annual budget approved by the City
Council.
b. The Cemetery Maintenance Trust Fund shall be
expended solely for the purpose of maintaining the
cemetery and any capital improvements or facilities
located therein. Expenditures from this Fund will be
limited to the income earned by said funds along with
any additional funds appropriated to this Fund by the
Council for the purpose of annual maintenance.
C. The Council shall consider the number of
unsold lots, the fair market value of unsold lots and
the probable earnings of the trust fund when fully
funded by the sale of all lots when allocating revenue.
The goal shall be to actuarially fund the Trust Fund
with sufficient monies so that it may become and remain
a self sufficient source of funding for all recurring
maintenance of the cemetery.
2. Any monies in said Funds, surplus and available
for investment, shall be managed in accordance with RCW
68.12.060. This ordinance shall be considered approval
of investments in accordance with RCW 68.12.065 subject
to the annual review of the City Council in the budget
process. All investments shall be reviewed and
approved by the Finance Director.
3. Monies shall be paid out of said Funds only upon
warrants drawn by the order of the Cemetery Board and
approved in the manner set forth in Chapter 2.25 of the
Edmonds City Code. All warrants shall be endorsed by
the Mayor and attested by the City Finance Director.
In no event shall any monies be expended from the
Cemetery Maintenance Trust Fund in excess of the annual
income earned, provided, however, that nothing herein
shall be interpreted to create a vested right in any
party. This ordinance may be amended by the City
Council from time to time as, in its sole discretion,
it deem appropriate. Such amendments may include the
diversion of funds from the Cemetery Maintenance Fund,
and expenditures of principal and income for other
purposes benefiting the Cemetery, provided that the
Council shall consider the recommendation of the
— 2 --
Cemetery Board in approving any such amendment or
expenditure.
Section 2. This ordinance, being an exercise of a
power specifically delegated to the City legislative body, is not
subject to referendum,, and shall take effect five (5) days after
passage and publication of the attached summary which is hereby
approved.
APPROVED:
MAYOR, LARRTY S. N UGHTEN
ATTEST/AUTHENTICATED:
IT CLERK, JACQUELINE PARRETT
APPROVED AS TO FORM:
OFFICE OF THE CITY ATTORNEY:
(' 7
BYi
FILED WITH THE n TY CLERK: October 7, 1986
PASSED BY THE CITY COUNCIL: December 16, 1986
PUBLISHED: December 21, 1986
EFFECTIVE DATE: December 26, 1986
ORDINANCE NO. 2596
- 3 --
STATE OF WASHINGTON,
COUNTY OF SNOHO1rISH,
A NON•ExPENV-
CEMETERY
NANCE TRUST
'ROVIDING FOR
NSTITUTION OF
INVESTMCN 1 Vr i nc
TRUST FUNDS AND FIXING
A TIME WHEN THE SAME
SHALL BECOME EFFEC-
TIVE.
On Octabor 7 M6, the CRY
Council of the city of Edmonds
Which provides as follows: 2546
Section 1. Amends Section
10�3Q5G=the Edmonds City
Code by creoiinp two Special
Cemetery funds, namely the
Cemetery Imprayement Fund
ntence
Trusfand hFund, ae Cernnd Seeryp wdel"s
for both.
Section 2. Sets the eHeclive
d0jF-6r-1FW-brdinonce as five (5)
days after passage and Publica-
tion of this summary which Is
op oved.
The full text of this ordinance
will be mailed without charge to
anyone who Submits a written
CIN at Edmond for Clerkity a copy of
the text.
APPROVED BY THE City
Council at their meeting of
October 7 19H6.
JAC)LIELINE PARRETT
City Clerk
Published: Dec. 21, 1986.
Ss.
Affidavit of Publication
The undersigned, being first duly sworn on oath deposes and says
that she is Principal Clerk of THE HERALD, a daily newspaper
printed and published in the City of Everett, County of Snohomish,
and State of Washington; that said newspaper is a newspaper of
general circulation in said County and State; that said newspaper
has been approved as a legal newspaper by order of the Superior
Court of Snohomish County and that the notice ............ ...... __...............
SUMMARY- QE ORDZ.NANCE...2.596 ......................
a printed copy of which is hereunto attached, was published in said
newspaper proper and not in supplement form, in the regular and
entire edition of said paper on the following days and times, namely:
---------------DECEMBER- 2-1-,_•_1986........ .............
and that said ewspaper was regularly distributed to its subscribers
during all said period.
f
Principal Clerk
Subscribed and sworn to before me this....22
day of. • -MXE B_E' ....... ......................... 198h-
r••-!/ �ze�...g
t No Public ' and for the State of Washin ton,
I d' g at Everett, Snohomish County.
B-2-1