HomeMy WebLinkAboutFinally Adopt Ordinance No. 1817, amending Chapter 14, Section 14.01.130 C, reassignment of interest earnings from perpetual care trust fund Commission Memorandum
REPORT TO: Honorable Mayor and City Commission FROM: Anna Rosenberry, Finance Director
Chris Kukulski, City Manager
SUBJECT: FinalAdoption of Ordinance No. 1817 - Amending Chapter 14, Section 14.01.130 C, Of The Bozeman Municipal Code, Pertaining To The Reassignment Of
Interest Earnings From The Perpetual Care Trust Fund.
MEETING DATE: October 24, 2011
AGENDA ITEM TYPE: Consent
RECOMMENDATION: Finally Adopt Ordinance No. 1817.
BACKGROUND: Through a number of meetings this spring and summer with Staff,
Commissioners, and members of the Cemetery Advisory Board, ideas were sought to increase the balance of the City’s Perpetual Care Trust Fund. This is the fund that will be relied upon for
long term maintenance of the cemetery once the cemetery is closed.
One of those ideas is to change Bozeman Municipal Code so that interest earnings from the
Perpetual Care Trust Fund stay in the fund itself, and not be transferred to the General Fund each year. The Cemetery Advisory Board voted in favor of this change, and the Fiscal Year 2012
Final Budget, adopted September 12th
, reflected this concept.
In order to formally effect this change, an ordinance is needed to change the Bozeman Municipal Code.
UNRESOLVED ISSUES: None.
ALTERNATIVES: 1. Keep the Bozeman Municipal Code as is, with no change. 2. Decide that some, but not all, of the Perpetual Care Trust Fund interest earning stay in the fund itself.
FISCAL EFFECTS: The Perpetual Care Trust Fund currently has a balance of $553,300. It is
estimated that there will be $8,000 in interest earnings this year. This Ordinance will retain the earnings in the Perpetual Care Fund, and not transfer it to the General Fund. (Again, this is in conformity with the FY12 Final Budget.)
Attachments: Ordinance No. 1817
Report compiled on: September 29, 2011
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Page 1 of 3
ORDINANCE NO. 1817
AN ORDINANCE AMENDING CHAPTER 14, SECTION 14.01.130 C, OF THE BOZEMAN MUNICIPAL CODE, PERTAINING TO THE
REASSIGNMENT OF INTEREST EARNINGS FROM THE PERPETUAL
CARE TRUST FUND
WHEREAS, Section 14.01.130 of the Bozeman Municipal Code established the
Perpetual Care Fund, Maintenance Fee, Agreement and Deposit Conditions; and
WHEREAS, Section 14.01.130, C. states that the interest or earnings from the CPC
(Cemetery Perpetual Care Trust Fund) shall be credited to the City’s all-purpose General Fund
for the sole purpose of defraying the cost of operating and maintaining the cemetery; and
WHEREAS, It is in the best interest of the City that these monies be allocated to the Cemetery Perpetual Care Trust Fund; and
NOW, THEREFORE, BE IT ORDAINED by the City Commission of the City of
Bozeman Montana:
That Chapter 2, Section 14.01.130 C, of the Bozeman Municipal Code, is amended to
read as follows:
Section 1
Section 14.01.130. Same Fund established; maintenance fee; agreement and deposit
conditions. C. The CPC Trust Fund shall be invested and reinvested by the director of finance. The city commission may from time to time direct the investment of such funds. The interest thereon,
or earnings therefrom, shall be credited to the all-purpose general fund to the CPC Trust Fund
for the sole purpose of defraying the cost of operating and maintaining the cemetery
in future
years.
Repealer Section 2
All provisions of the ordinances of the City of Bozeman in conflict with the provisions of this
ordinance are, and the same are hereby, repealed and all other provisions of the ordinances of the City of Bozeman not in conflict with the provisions of this ordinance shall remain in full force
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and effect.
Savings Provision
Section 3
This ordinance does not affect the rights and duties that matured, penalties that were incurred or
proceedings that were begun before the effective date of this ordinance. All other provision of
the Bozeman Municipal Code not amended by this Ordinance shall remain in full force and
effect.
Severability Section 4
That should any sentence, paragraph, subdivision, clause, phrase or section of this ordinance be
adjudged or held to be unconstitutional, illegal, or invalid, the same shall not affect the validity
of this ordinance as a whole, or any part or provision thereof, other than the part so decided to be invalid, illegal or unconstitutional, and shall not affect the validity of the Bozeman Municipal
Code as a whole.
Codification
Section 5
The provisions of Section 14.01.130 shall be codified as appropriate in Chapter 14, Cemeteries,
of the Bozeman Municipal Code. All references within the Bozeman Municipal Code shall be
revised to reflect the changes in this ordinance.
Section 6
Effective Date This ordinance shall be in full force and effect thirty (30) days after final adoption.
PROVISIONALLY ADOPTED by the City Commission of the City of Bozeman,
Montana on second reading at a regular session thereof held on the 3rd day of October,
2011.
____________________________________
JEFFREY K. KRAUSS Mayor
ATTEST:
_______________________________
STACY ULMEN, CMC
City Clerk
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FINALLY PASSED, ADOPTED AND APPROVED by the City Commission of the
City of Bozeman, Montana on second reading at a regular session thereof held on the 17th
day of
October, 2011.
__________________________________________
JEFFREY K. KRAUSS
Mayor ATTEST:
_______________________________ STACY ULMEN, CMC City Clerk
APPROVED AS TO FORM
__________________________________________
GREG SULLIVAN
City Attorney
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