The purpose of this article is to authorize the submission of
a proposition to the voters of the Township of Old Bridge for the
2010 general election authorizing the imposition of an annual levy
for various open space preservation purposes.
The Clerk of the Township of Old Bridge shall submit to the
Middlesex County Clerk the following proposition to be decided by
the voters of the Township of Old Bridge in the 2010 general election:
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Shall the Township of Old Bridge impose an additional annual
tax levy of $0.02 per $100 of assessed real property value for a period
of 10 years and the amounts raised by such levy be deposited into
an "Old Bridge Township Open Space, Recreation and Farmland Preservation
Trust Fund" and used exclusively for the following purposes:
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1.
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The acquisition of lands for recreational and conservation purposes;
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2.
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The acquisition of farmland for farmland preservation purposes;
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3.
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The historic preservation of historic properties, structures,
facilities, sites, areas, or objects, and the acquisition of such
properties, facilities, sites, areas or objects for historic preservation
purposes; and
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4.
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The payment of debt service on indebtedness issued or incurred
by the municipality for any of the purposes set forth above.
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Interpretive Statement
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The passage of this referendum would establish the "Old Bridge
Township Open Space Recreation and Farmland and Historic Preservation
Trust Fund." This fund would be used for open space preservation,
farmland preservation, historic property preservation and the payment
of debt service on indebtedness issued or incurred by the municipality
for such preservation purposes. Fund monies may be used for outright
acquisition of property or the acquisition of development rights.
The fund monies would not be used for salaries, wages, maintenance
of property, administrative expenses, office supplies, equipment and
the like. The Township would annually levy a tax rate of $0.02 per
$100 of total Township assessed real property value for 10 tax years.
As an example, at the two-cent rate, the owner of a property assessed
at $125,000 would pay an additional $25 per year in property taxes.
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