Arizona Revised Statutes Title 9. Cities and Towns § 9-453. Cemetery maintenance fund

A. The governing body of a city or town having and maintaining a cemetery may establish a maintenance fund to provide for the maintenance and care of such cemetery. Such maintenance fund shall consist of all amounts received by the city or town in the form of bequests, donations, grants or gifts of all kinds or property, in fee simple or otherwise, for the purpose of cemetery maintenance, and cities and towns are empowered to accept such bequests, donations, grants and gifts to become part of such maintenance funds. In addition, there may be paid into such fund each year such amounts as the governing body may determine.

B. All amounts paid into or that become a part of a cemetery maintenance fund may be invested or reinvested by the governing body in the manner provided in § 38-848 for the investment of funds of the public safety personnel retirement system, and the duties, limitations, and obligations of the governing body with respect to such maintenance fund shall, so far as practical, be the same as the duties, limitations and obligations of the board of trustees with respect to the funds of the public safety personnel retirement system.