§ 15-142. Purchase of cemetery burial lots.

(a)

Cemetery burial spaces may be purchased by one (1) of the following methods:

(1)

Payment in full at the time of purchase.

(2)

Payment of a nonrefundable fifty dollars ($50.00) deposit for reservation of burial spaces. The balance is payable within ninety (90) days interest free.

(3)

With a down payment of the first month's payment:

a.

The purchase price of burial space(s) may be financed up to one (1) year at two (2) percent above the prime interest rate on the date of reservation; the interest rate will remain fixed over the term of the payment.

b.

Payment may be made monthly or in one (1) lump sum of principal plus interest on or before the one (1) year due date.

(b)

Burial spaces must be paid in full before a certificate of interment is issued. In instances where burial spaces are being financed over time, the principal accumulated to date may be applied to a specific space if principal is available in the event that a burial space is needed for interment.

(c)

Cemetery spaces will be returned to inventory and made available for sale fifteen (15) days after final payment is due on all non-paid accounts. The principle less fifty dollars ($50.00) will be returned to the purchaser. A delinquent account financed under the ninety (90) day plan may request that the account be transferred to a one (1) year plan. The one (1) year plan will have begun on the original date of purchase.

(d)

The City Manager, in cases of extreme financial hardship, may accept, in lieu of cash for the purchase of cemetery burial spaces, an assignment of the proceeds of a valid life insurance policy, a promissory note (not to exceed ninety (90) days), from a citizen of the City having tangible assets within the City sufficient to pay cemetery expenses, or other sound acceptable security. The security shall be released by the City upon the receipt of payment in full of the purchase price of the cemetery burial space.

(Ord. No. 93-22, § 1, 6-28-93; Ord. No. O-04-34, § 1, 5-24-04)