214.230. City may acquire money or funds, how. - Missouri Statutes

City may acquire money or funds, how.

214.230. Every such city, so acquiring any such cemeterylands or shares and control of such cemetery corporation orassociation, may likewise at the same time, or at any other time,accept and acquire by gift or donation money or funds, the incomethereof, and so much of the principal as the donor may by expressterms of the gift provide or permit shall be expended for thepreservation, care, upkeep and adornment of such lands. Suchmoneys and funds for income purposes shall be invested from timeto time in interest-bearing bonds of the same classes or kinds,and by the same city officials, as such city's bond sinking fundsare or may be directed by law to be invested; and the principalsums thereof, except as permitted by the donor as aforesaid,shall be preserved and kept for income purposes. If such incomerevenue should prove insufficient to provide for the reasonablecare and upkeep of the land which, or the control of which, maybe so acquired, the city shall have power to provide thereforfrom its general revenue.

(RSMo 1939 § 15284)