6357 f
RESOLUTION NO . 6 , 357
A RESOLUTION AUTHORIZING AN AMENDMENT TO
TRUST AGREEMENT BY AND BETWEEN THE CITY
OF LITTLE ROCK, AS BENEFICIARY, THE BOARD
OF DIRECTORS OF THE MOUNT HOLLY CEMETERY
ASSOCIATION, AS SETTLOR, AND WORTHEN BANK
AND TRUST COMPANY, N.A. , AS TRUSTEE, IN
SUBSTANTIALLY THE FORM AND WITH SUBSTAN-
TIALLY THE CONTENTS SET FORTH BELOW,
AUTHORIZING THE EXECUTION AND DELIVERY
OF THE AMENDMENT; AND PRESCRIBING OTHER
MATTERS RELATED THERETO .
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
OF LITTLE ROCK, ARKANSAS :
SECTION 1 . That there be , and there is hereby,
authorized the execution and delivery of an Amendment to
Trust Agreement wherein the City of Little Rock, Arkansas ,
is Beneficiary, the Board of Directors of the Mount Holly
Cemetery Association is Settlor , and Worthen Bank and
Trust Company, N.A. , is Trustee, in substantially the form
and with substantially the contents hereafter set forth.
The Mayor and City Clerk be, and they are hereby, authorized
to execute , acknowledge and deliver the Amendment for and
on behalf of the City. The form and contents of the Amendment
which are hereby approved and which are made a part hereof ,
shall be substantially as shown on Exhibit A hereto .
SECTION 2 . That the Mayor , City Clerk and City Manager ,
or any of them, for and on behalf of the City, be, and they
are hereby, authorized and directed to do all things , exe-
cute all instruments and otherwise take all action necessary
to the realization of the rights of the City and to discharge
the obligations of the City under the terms of the Amendment .
SECTION 3 . That all ordinances and resolutions and
parts thereof in conflict herewith are hereby repealed to the
extent of such conflict .
4
SECTION 4. This Resolution shall be in full force
and effect from and after its adoption.
ADOPTED : June 3 , 1980.
APPROVED:
,/v,;;;;:017
By:
Mayor
ATTEST:
Ci2141)2' Clerk
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II
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AMENDMENT 10 TRUST AGREEMENT
THIS AMENDMENT TO TRUST AGREEMENT, executed and entered into
on the day of , 1980, by and between THE MOUNT
HOLLY CEMETERY ASSOCIATION, WORT EN BANK AND TRUST COMPANY, N.A. ,
and THE CITY OF LITTLE ROCK
WITNESSEM:
WHEREAS, on May 9, 1955, a Trust Agreement was executed
creating the Mount Holly Cemetery Perpetual Care Trust Fund; and
WHEREAS, it was the intent of the Board of Directors of the
Mount Holly Cemetery Association to provide monies from said trust
for payment of the annual charges imposed by law upon cemetery lots
in M unt Holly Cemetery and for the upkeep, maintenance and care of
said lots under such programs as the Board of Directors of the
Mount Holly Cemetery Association established, and
WHEREAS, it was the intent of the Board of Directors of the
Mount Holly Cemetery Association to provide said monies from the
trust so long as the trust existed or until the Mount Holly Cen-
tery ceased to exist, and
WHEREAS, Act 352, 1977 Acts of Arkansas, seeks to regulate
municipally owned cemeteries which advertise or operate perpetual
care cemeteries, and
WHEREAS, because of the apparent scope of said Act 352,
some confusion has arisen surrounding the meaning of the words per-
petual, and the like, as used in said Trust Agreement, and
WHEREAS, it is the intent and desire of this Admendment to
Trust Agreement to clarify the meaning of said words as so used,
to remove any confusion surrounding same, and to state that the
use of the word perpetual, and the like, in said Trust Agreement
EXHIBIT N0. A
. 1 1 •
means until such time as Mount Holly Cemetery or the per of the
Board and the Trustee to carry out the maintenance care program and
the Trust in respect to the cemetery ceases to exist in order to
clearly manifest that said Trust is not covered by Act 352.
NOW, THEREFORE, and in consideration of the premises, said
Trust Agreement is hereby amended to reflect that:
1. The name of said trust shall henceforth
be known as the Mount Holly Cemetery Main-
tenance care trust Fund; and
2. The use of the word "perpetual" in the
Trust Agreement henceforth shall be read as
"maintenance".
In all other respects and particulars said Trust Agreement is re-
affirmed and retified and shall continue in full force and effect
except as herein amended.
IN WITNESS WHEREOF, the parties hereunto have set their hands
this day of , 1980.
BOARD OF DIRECTORS OF THE
RUNT HOLLY CEMETERY ASSOCIATION
By:
President
A LEST:
WORTHEN BANK AND TRUST COMPANY
By:
Trustee
CITY OF LITTLE ROCK
By: _
ATTEST: