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Department of Parks and Recreation
Reference: A resolution providing for a 2015 Supplemental Budget Appropriation in the amount of $150,000 for the construction of Cremation Spreading Gardens in
Elmwood and Fairview Cemeteries.
To: Mayor Richard N. McLean and Members of City Council
Through: Manuel Esquibel, City Manager
Prepared By: Gary Wardle, Director Parks and Recreation
Date Prepared: February 23, 2015
PURPOSE
A RESOLUTION PROVIDING FUNDS FOR A 2015 SUPPLEMENTAL BUDGET APPROPRIATION IN THE AMOUNT OF ONE HUNDRED FIFTY THOUSAND DOLLARS ($150,000) FOR THE INTERFUND LOAN FROM THE CEMETERY PERPETUAL CARE FUND TO THE CEMETERY FUND TO PROVIDE FUNDING FOR THE CEMETERY CREMATION SPREADING GARDENS IN ELMWOOD AND FAIRVIEW CEMETERIES.
BACKGROUND
The City Council has received information concerning the construction of Cremation Spreading Gardens for Elmwood and Fairview Cemeteries. The purpose of the Cremation Spreading Gardens is to increase revenue to the Cemetery Fund, and to address requests from citizens for such spreading gardens. The sales of the Cremation plots will also provide additional revenue to the Cemetery Perpetual Care fund. There are sufficient funds in the Cemetery Perpetual Care Fund to finance the design and construction of the Cremation Spreading Gardens. The loan will be repaid to the Cemetery Perpetual Care Fund from revenues generated from the sales of the Cremation Garden plots being created. The Loan from the Cemetery Perpetual Care Fund will be for 20 years and will be repaid at an interest rate of 2%. The Cremation Gardens will be ready for use in 2016.
CRITERIA BY WHICH COUNCIL MUST CONSIDER THE ITEM
FINANCIAL IMPACT
A Loan from the Cemetery Perpetual Care Fund in the amount of $150,000 to be used to construct Cremation Spreading Gardens in Elmwood and Fairview Cemeteries. The loan to be paid back over 20 years at an interest rate of 2%
STAFF RECOMMENDATION
Staff Recommends approval of the Resolution
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