§ 160A-349.9. Power to acquire land; adjacent property; disposal of money from lot sales; investments; income from investment. - North Carolina Statutes

§ 160A‑349.9. Power to acquire land; adjacent property; disposal of money from lot sales;investments; income from investment.

The said board shall have the power to acquire additional lands forcemetery purposes, either by purchase or otherwise. In making such additionalacquisitions of property, if possible, they shall acquire adjacent property;all moneys received from the sale of lots shall be held by the board oftrustees intact and used for the purchase of additional lands; to beautify andotherwise maintain and keep the present property and the future acquiredproperty. The board  may, if it seems best to it, invest the said money ingood, interest‑bearing securities, payable to the said board, and theincome derived therefrom shall be by the board used in the beautifying,maintenance and upkeep of the cemetery or cemeteries under its control. (Pub. Loc. 1923, c. 583, s. 9.)