There is hereby created a fund or account to be known or designated as the "Borough of Alpha Trust Account." Disbursement from said account shall be made by checks signed by the Treasurer and countersigned by the Mayor and Clerk after approval by the governing body.
Whenever any person, firm or corporation has agreed, or is otherwise required, to reimburse the Borough of Alpha for costs, expenses or fees of any kind or character, all sums paid by any such third person to the Borough of Alpha shall be deposited in the Trust Account herein established. Funds received from such third persons may be to cover such things as the following enumerated costs, expenses or fees but are not limited thereto: the costs of preparing and publishing any notice, ordinance or resolution; the costs of mailing notices required pursuant to the provisions of any law or ordinance; the legal fees of the Municipal Attorney or the Attorney for the Planning Board or any other local agency incurred by reason of preparation of papers, ordinances, attendance at conferences or other services; the fees of the Borough Engineer incurred by reason of making inspections required by the governing body, Planning Board or other official body or made pursuant to the provision of any ordinance or for the preparation of plans or other services required by the Borough; the fees of the Borough Planning Consultant for consultations or special planning work required in connection with any proposed development of land within the Borough of Alpha; and the fees, expenses or charges or the estimated pro rata costs to the Borough for any services rendered by any Borough official or employee, all as directed by the governing body under circumstances where the Borough of Alpha is entitled to be reimbursed for the costs, expenses and charges incurred by it in connection therewith.
Except where there is a specific ordinance requirement as to the amount of any deposit, the governing body shall, by resolution, detail the services to be performed by any of said Borough officials or employees and shall obtain an estimate of the costs of such services and of all other charges or costs which may be involved. Said resolution shall provide the sum which shall be deposited by the third person, firm or corporation as agreed with the governing body, and all terms and conditions relating thereto. Said amount, upon receipt, shall be deposited in the Trust Account and shall be disbursed therefrom only as may be directed by the governing body.
Excess and insufficient funds. Upon deposit of said sum or sums as directed by the governing body in the Trust Account, the officer or employees of the Borough who have been so designated or directed may proceed to perform such services or incur such costs or expenses as may be necessary for carrying out of the contemplated purposes, and thereafter, upon receipt of proper vouchers and approval by the governing body, the costs, expenses or fees for which vouchers have been submitted and approved shall be paid out of said Trust Account. Any funds remaining after payment of all costs, expenses or fees in connection with any particular matter or project may be returned to the person, firm or corporation depositing said funds. Should there be insufficient funds in said Trust Account to pay all such expenses, charges or fees, the Municipal Treasurer and/or Clerk shall immediately notify the depositor and require that additional funds sufficient to pay all such expenses, charges or fees be immediately deposited with the Borough of Alpha.