[HISTORY:[1] Adopted by the Town Board of the Town of New Castle 12-6-2022 by L.L. No. 14-2022. Amendments noted where applicable.]
The Town Board hereby establishes a reserve fund for the reserve
and dedication of monies to acquire real property, and interests or
rights in real property, for the purposes of preserving and protecting
such property as authorized General Municipal Law § 247,
and creating and maintaining new park and recreational spaces.
The Town Board finds and declares it to be the public policy
of the Town to preserve, protect, and conserve its natural resources
and environmentally sensitive areas, and to expand and enhance the
Town's parklands and recreational spaces. To these ends, and
consistent with the priorities and goals established in the Town's
2017 Comprehensive Plan, the Town Board hereby establishes a reserve
fund dedicated to the acquisition, improvement, maintenance, and preservation
of open space land for conservation, park, and recreational purposes.
A.Â
Fund account. The Town Comptroller shall establish and maintain a
separately designated account, pursuant to New York State General
Municipal Law § 6-c, known as the "Open Space Preservation
Reserve Fund Account," and shall implement such accounting procedures
as may be advisable and required by law.
B.Â
Scope of fund. The Open Space Preservation Reserve Fund Account shall
be used only to acquire land or rights in land, and improving and/or
maintaining such land, for park, recreational, and conservation purposes,
including but not limited to those purposes set forth in General Municipal
Law § 247, pursuant to New York General Municipal Law § 6-c1b(1)
and (2).
C.Â
Deposits. Annually and not later than June 30 each year, the Town
Comptroller shall furnish the Town Board with a written report on
the availability of unrestricted, surplus funds that may be available
for deposit into the Open Space Preservation Reserve Fund Account.
The Town Board shall thereafter confer and determine, in its sole
discretion, whether to transfer funds into the Open Space Preservation
Reserve Fund Account, and the amount of any such transfer, after due
consideration of the Town's current fiscal condition and projected
obligations and contingencies.
D.Â
Additional deposits. The Town Board may also accept and deposit in
the Open Space Preservation Reserve Fund Account such other funds
as may be received through private gift and bequest, or otherwise
available from any private or public entity or agency.
E.Â
Prohibitions. No expenditures from the Open Space Preservation Reserve
Fund Account shall be made for purposes other than those set forth
in this chapter.
The Town Comptroller shall invest and monitor the monies in
Open Space Preservation Reserve Fund Account in accordance with the
provisions of Article 2 of the New York General Municipal Law and
all other applicable statutes and regulations.