[HISTORY: Adopted by the Township Council of the Township
of West Milford 1-3-2001 by Ord. No. 2001-1; amended in its entirety 2-19-2014 by Ord. No.
2014-001. Subsequent amendments noted where applicable.]
There is hereby established an account which shall be known
and designated as the "Open Space, Recreation, and Farmland and Historic
Preservation Trust Fund" which shall be maintained in accordance with
N.J.S.A. 40:12-15.7 et seq.
A.Â
The Open Space, Recreation, and Farmland and Historic Preservation
Trust Fund shall be funded through the dedication to the fund of an
amount of $0.02 per $100 of assessed valuation of each annual tax
levy commencing with the year 2022. The fund shall also be permitted
to accept donations and testamentary bequests.
[Amended 3-2-2022 by Ord. No. 2022-006]
B.Â
The funds accumulated within the trust fund may be utilized only
for the acquisition of lands for recreation and conservation purposes
and the payment of debt service on indebtedness issued or incurred
by the Township for the purpose of acquisition of lands for recreation
and conservation purposes and, for the funds collected beginning January
1, 2014, allocated as follows:
(1)Â
At least 33.33% of open space trust funds for the acquisition of
properties.
(2)Â
Up to 33.33% of open space trust fund monies for the development
of or capital improvements to lands acquired for recreation purposes
at the discretion of the Township Council.
(3)Â
Up to 33.33% of open space trust fund monies for the improvement
of lands acquired for conservation or historic preservation purposes
at the discretion of the Township Council.
C.Â
Lands acquired by the Township of West Milford using revenue raised
pursuant to this tax authorization shall be held in trust and shall
be used exclusively for the purposes authorized under N.J.S.A. 40:12-15.1
et seq. The governing body of the Township of West Milford may change
the spending allocation for a given calendar year; however, it must
be approved by five affirmative votes of the Township Council.
The Open Space, Recreation, and Farmland and Historic Preservation
Trust Fund created by this chapter shall be administered in accordance
with the applicable statutory provisions, including, without limitation,
N.J.S.A. 40:12-15.1 et seq.
