A. The Trustees of the Cemeteries are authorized to take and hold any grant, donation, bequest or deposit that may be made upon trust, to apply the same, or the income thereof, for the improvement or embellishment of the cemeteries, in any manner of form consistent with the purposes for which it was established. When such a grant, donation, bequest or deposit is made by the proprietor of a lot for its repair, preservation or embellishment, they may give to such proprietor an agreement or obligation in such form, and upon such terms and conditions as they may establish, binding the City to keep the lot in repair for such period as may be agreed upon.
B. All money received pursuant to this section shall be paid to the City Treasurer, and invested, under the direction of the Trustees, in public stocks, or in mortgages of real estate, or by deposit in any savings bank, national bank or trust company in the Commonwealth; and, the principal shall permanently remain in a separate account. The income of such fund or funds shall be received by the City Treasurer, and shall be appropriated by the Trustees in such manner as will, in their opinion, promote the purposes for which such grants, donations, bequests or deposits were made.