[HISTORY: Adopted by the Township Committee of the Township of Montville as indicated in article histories. Amendments noted where applicable.]
[Adopted by Ord. No. 1308 as Ch. 3.12 of the 1998 Code]
[Amended by Ord. No. 2000-3]
A. The Open Space Trust Fund shall be funded through the dedication to the fund of an amount of $0.059 per $100 of assessed valuation for each annual tax levy. The fund shall also be permitted to accept donations and testamentary bequests.
[Amended 5-27-2008 by Ord. No. 2008-20; 6-9-2009 by Ord. No. 2009-18]
B. The funds accumulated within the trust fund may be utilized only for the purposes permitted in N.J.S.A. 40:12-15.7 which are:
[Amended 3-13-2007 by Ord. No. 2007-09; 7-12-2011 by Ord. No. 2011-18]
(1) The acquisition of lands for recreation and conservation purposes.
(2) The development of lands acquired for recreation and conservation purposes.
(3) The maintenance of lands acquired for recreation and conservation purposes.
(4) The acquisition of farmland for farmland preservation purposes.
(5) The payment of debt service on indebtedness issued or incurred for any of the purposes set forth above.