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1    AN ACT concerning civil law.

 
2    Be it enacted by the People of the State of Illinois,
 
3represented in the General Assembly:



 
4    Section 1. Findings.  The General Assembly finds:
5    (1) "An Act to create the Rosehill Cemetery Company", 
6approved February 11, 1859 (hereinafter "the 1859 Act"), 
7created the Rosehill Cemetery Company and constituted its 
8charter.  The 1859 Act appears on pages 29 through 33 of  the 
9"Private Laws" portion of the volume "Laws of the State of 
10Illinois, Passed by the Twenty-first General Assembly, 
11Convened January 3, 1859".  (The pages of that volume are not 
12numbered in a single sequence. The portions labeled "Public 
13Laws" and "Private Laws" have  separate page numbering.)
14    (2) "An Act to amend "An act to create the Rosehill 
15Cemetery Company," approved February 11, 1859", approved 
16February 13, 1863 (hereinafter "the 1863 Act"), amended the 
17charter of the Rosehill Cemetery Company as set forth in the 
181859 Act. The 1863  Act appears on pages 174 through 177 of  the 
19volume "Private Laws of the State of Illinois, Passed by the 
20Twenty-third General Assembly, Convened January 5, 1863". 
21Among other things,  the 1863 Act: required 10% of the proceeds 
22received from the sale of lots by the Rosehill Cemetery Company 
23to be reserved and set apart until the  sum reserved and set 
24apart amounted to $100,000;  required that sum to be kept as a 
 
 
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1fund (hereinafter "the reserve fund") for the preservation, 
2maintenance, and ornamentation of the cemetery; created the 
3Board of Trustees of the Rosehill Cemetery; required the 
4Rosehill Cemetery Company to pay the amounts reserved and set 
5apart to  the Board of Trustees of the Rosehill Cemetery; 
6imposed various requirements upon the investment of funds by 
7the Board of Trustees of the Rosehill Cemetery; and imposed 
8various requirements regarding the composition and selection 
9of the Board of Trustees of the Rosehill Cemetery.
10    (3) On September 15, 1983, a decree was entered by the 
11Circuit Court of Cook County in Rosehill Cemetery Company et 
12al. v. Chicago Title and Trust Company et al.,  No. 83 CH 339, 
13which dealt with various matters involving the  successor to the 
14Rosehill Cemetery Company as well as 4 funds dedicated to the 
15care and upkeep of  the Rosehill Cemetery, including the reserve 
16fund.  Regarding the reserve fund, the Court found:
17        "4. On July 6, 1894, a decree was entered by the 
18    Circuit Court of Cook County in Case No. 120206, Lunt and 
19    Farwell vs. The Rosehill Cemetery Company et. al., which 
20    found that the Reserve Fund had reached $100,000, and 
21    ordered that it be administered by lot owner trustees 
22    pursuant to the Amendment to Charter, with The Northern 
23    Trust Company of Chicago, Illinois acting as custodian of 
24    the securities in which said Reserve Fund is invested."
25    Regarding the reserve fund, the Court ordered:
26        "5. That, upon the purchase of the assets of Rosehill 
 
 
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1    Cemetery Company, the dissolution of Rosehill Cemetery 
2    Company, and the commencement of the operation of Rosehill 
3    Cemetery in perpetuity by Rosehill Memorial, Inc., the 
4    Reserve Fund and the trustees thereof shall continue to 
5    operate in the manner provided, since 1863, by Section 7 of 
6    the Charter of Rosehill Cemetery Company as amended by the 
7    Special Act approved February 13, 1863 and pursuant to the 
8    provisions of the first paragraph of Paragraph Second of 
9    the decree entered on July 6, 1894 by the Circuit Court of 
10    Cook County in Case No. 120206, Lunt and Farwell vs. The 
11    Rosehill Cemetery Company et. al., and said trustees shall 
12    continue to expend the income therefrom with the advice of 
13    Rosehill Memorial, Inc."
14    (4) The Board of Trustees of the Rosehill Cemetery have 
15administered the reserve fund in accordance with  the 1863 Act. 
16The 1863 Act must be amended to enable the Board of Trustees of 
17the Rosehill Cemetery to manage the reserve fund according to 
18modern investment principles and to ensure the continued 
19operation of the reserve fund.
 
20    Section 5. "An Act to amend "An act to create the Rosehill 
21Cemetery Company," approved February 11, 1859", approved 
22February 13, 1863, is amended  by adding Sections 14.1 and 14.2 
23as follows:
 
24    (Private Laws 1863, p. 174-177, Sec. 14.1 new)
 
 
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1    Sec. 14.1. Notwithstanding any other provision of law, as 
2an alternative to the investment provisions of Sections 3 
3through 7 of this Act, the Board of Trustees of the Rosehill 
4Cemetery may invest assets of the fund created under Section 2 
5of this Act in accordance with Section 5 of the Trusts and 
6Trustees Act or any successor provision.
 
7    (Private Laws 1863, p. 174-177, Sec. 14.2 new)
8    Sec. 14.2. Notwithstanding any other provision of law, as 
9an alternative to the provisions of Sections 3 and  10 of this 
10Act concerning the number of trustees and the manner of 
11electing trustees,  the Board of Trustees of the Rosehill 
12Cemetery may adopt bylaws establishing procedures for the 
13governance of the Board, including, but not limited to, the 
14number of trustees and the manner of electing trustees.
 

15    Section 99. Effective date. This Act takes effect upon 
16becoming law.