A.
Pursuant to N.J.S.A. 40:12-15.7c, there is hereby
established an account which shall be known and designated as the
"Municipal Open Space, Recreation and Farmland and Historic Preservation
Trust Fund" which shall be maintained in accordance with N.J.S.A.
40A:4-1 and 40A:5-1 and shall be used exclusively for the purposes
authorized by the voters of the municipality. Any interest or other
income earned on moneys deposited into the municipal trust fund shall
be credited to the fund to be used for the same purposes as the principal.
B.
In the discretion of the Chief Financial Officer,
for purposes of efficiency and/or convenience, a separate account
may be established within the municipal trust fund for the deposit
of revenue to be expended for each of the purposes specified in the
proposition approved by the voters of the municipality.
A.
In accordance with N.J.S.A. 40:12-15.7c, the Municipal
Open Space, Recreation and Farmland and Historic Preservation Trust
Fund shall be funded through the dedication to the fund of an amount
of $0.01[1] per $100 of assessed valuation of each annual tax levy.
State and county financing shall also be received into the fund, in
accordance with the Farmland Preservation Programs, and as otherwise
provided by law. The fund shall also be permitted to accept donations
and testamentary bequests.
[Amended 10-10-2002 by Ord. No. 2002-29; 11-2-2010]
[1]
Editor's Note: The previous fee of $0.02 per $100 of assessed
valuation (commencing in 2002) was reduced to $0.01 per $100 of assessed
valuation by referendum held at the November 2, 2010, General Election.
B.
The funds accumulated within the trust fund/funds
may be utilized only for costs incurred regarding the acquisition
of land and/or development rights in land for farmland preservation,
open space, passive recreation and conservation or for historic preservation
purposes, including appraisal costs and other items of expense permitted
by law in connection with the acquisition or as a down payment for
the issuance of bonds for the same purpose at the discretion of the
Township Council. The Township Council is to determine the properties
or development rights to be acquired by gift, purchase or by eminent
domain proceedings, pursuant to N.J.S.A. 20:3-1 et seq., within the
financial constraints it establishes.
[Amended 10-10-2002 by Ord. No. 2002-29]
C.
The fund may also be used for any purposes authorized
by the voters of the municipality pursuant to N.J.S.A. 40:12-15.7
et seq.
Any property acquired with the funds from the Farmland Preservation and Open Space Dedicated Trust Fund may be leased or sold in accordance with any applicable law, provided the proceeds of said sale are deposited into the Farmland Preservation and Open Space Fund, as set forth in § 30-8 of this chapter.
[Amended 10-10-2002 by Ord. No. 2002-29]
In the event that no property is acquired under
this chapter for a period of five consecutive years, then the Mayor
shall review the activities of the Farmland, Historic and Open Space
Committee and issue a report to the Township Council with recommendations
and conclusions concerning the reserve for farmland, open space, passive
recreation and historic site acquisition and preservation.
