A. No officer or director of the city of Auburn cemetery authority, trustee of the endowment care or special care funds or spouse, sibling, parent, grandparent, or issue of such officer, director, or trustee, shall borrow any such funds for themself, directly or indirectly.

B. No funds shall be loaned to the cemetery authority, its agents, or employees, or to any corporation, partnership, or other business entity in which the cemetery authority has any ownership interest.

C. No funds shall be invested with persons or business entities operating in a business field directly related to cemeteries including, but not limited to, mortuaries, monument production and sales, florists, and rental of funeral facilities.

D. Notwithstanding any other provisions contained in this section, funds may be invested in any commercial bank, mutual savings bank or savings and loan association duly chartered and operating under the laws of the United States or statutes of the state of Washington.

E. The Auburn finance director is authorized to acquire and retain every kind of property, real, personal, or mixed, and every kind of investment specifically including but not by way of limitation, debentures and other corporate obligations, and stocks, preferred or common, which people of prudence, discretion and intelligence acquire for their own account. (Ord. 3705 § 2, 1981.)