[HISTORY: Adopted by the Town Council of
the Town of Westerly 9-22-2003 by Ch. No. 1467. Amendments noted where applicable.]
Pursuant to the provisions of RIGL 42-17.1-1
et seq. or any subsequent modifications or amendments thereto or substitutions,
there is established a Westerly Municipal Land Trust (hereinafter
called "Trust") for the purpose of acquiring, holding, and managing
real property and interests therein including development rights situated
in the Town of Westerly, but not limited to the Town of Westerly,
subject to the laws of the state in which the real property is located,
consisting of open, residential, agricultural, recreational, historical
and littoral property, including existing and future well fields and
aquifer recharge areas, freshwater marsh and adjoining uplands, wildlife
habitats, and/or buildings providing access to or views of water bodies,
or for bicycling and hiking paths, or for future public recreation,
agricultural, environmental or educational use, or for opportunistic
acquisitions in order to further the health, welfare, and safety of
the citizens of Westerly, now and in the future.
The Trust shall be administered by seven Trustees
who shall be appointed by the Town Council of the Town of Westerly.
The Trustees who are first appointed shall be designated to serve
the following terms: first, one year; second, two years; third, two
years; fourth, three years; fifth, four years; sixth, four years;
and seventh, five years, respectively, terms to expire on December
31 annually. Thereafter, Trustees shall be appointed as aforesaid
for a term of office of five years, except that all vacancies occurring
during a term shall be filled by the appointment of the Town Council
for the unexpired term. In addition to the seven Trustees appointed
by the Town Council, the current Chairperson, or member designee of
the Westerly Planning Board, the Town Planner and the Finance Director
shall serve as ex officio members of the Trust. Trustees shall be
resident electors or taxpayers of the Town of Westerly, shall serve
without compensation and shall hold office until their successors
have been appointed. No Trustee may be an elected office or salaried
employee of the Town.
The members of the Trust shall elect a Chairperson
and Vice Chairperson from among its members. The Trustees shall elect
or appoint a Secretary who need not be a voting member of the Trust.
The term of office of the Chairperson and Secretary shall be for the
calendar year, or for that portion thereafter remaining after each
such officer is designated or elected. The Secretary may be a paid
position at the discretion of the Trustees and approval of the Town
Council. The Trust shall reorganize annually in January and shall
file forthwith a list of the officers for the ensuing year with the
Town Clerk.
The Trustees shall adopt reasonable rules and
regulations governing the conduct of Trust affairs, including the
acquisition and management of its holdings not inconsistent with the
provisions of this chapter. All rules and regulations of the Trust
are subject to the approval of the Town Council. A quorum for holding
legitimate business meetings is four members, and decisions shall
be by a majority of those members present and voting, excepting in
decisions of the acquisition or disposition of land, easements, rights-of-way,
which must be by a vote of at least four members. The Trustees shall
file copies of their minutes with the Town Clerk. All meetings of
the Trust shall be open to the public and held in accordance with
any Rhode Island General Laws pertaining to open meetings and posting
of meetings.
The Trust shall have the power to:
A.
Purchase, receive by gift, acquire, hold, lease, encumber, manage, dispose of and issue bonds, in accordance with § 30-7, or otherwise acquire fee simple or lesser interests in real property, including development rights of any kind or any interest in real property situated in the Town of Westerly, but not limited to Westerly.
B.
Accept gifts, grants or loans of funds or resources
or services from any source, public or private, and comply, subject
to the provisions of this chapter, with any terms and conditions thereof
within the limits of its available funds.
C.
Accept donations of real or personal property from
donors whose intentions, as expressed in deed or gift, is not to preserve
or protect the property donated, but to enable the Trust to sell the
same to raise funds to finance the conservation activities of the
Trust. The Trust may sell property so donated upon the vote of the
Trustees in which at least four members vote in favor of the disposition.
D.
Accept from state and/or federal agencies loans or
grants or resources for use in carrying out the Trust's purpose and
enter into agreements with such agencies respecting any such loans
and grants within the limits of its available funds.
E.
Employ counsel, auditors, engineers, appraisers, private
consultants, advisors, secretaries or other personnel needed to perform
its duties within the limits of its available funds.
F.
Administer and manage land interest in land held by
it in a manner which allows, where possible, public use and enjoyment
consistent with the natural and scenic resources thereof, (including
conveyance of any such land or interest in land to, and contracts
with, nonprofit organizations), provided that such land shall continue
to be used in a manner consistent with the purposes of this chapter
and with the terms of any grant or devise by which such land was acquired
by the Trust.
G.
Incur debt only after authorization in each such instance
by vote of the Westerly Town Council and in accordance with the requirement
for the issuance of bonds by referendum pursuant to the Town Charter.
The Trust shall be obligated to pay debt service on all such debt
to the extent funds are available and to reimburse any Town funds
expended to pay such debt service.
H.
Dispose of all or any portion of its real property
or interests therein held by it, whenever in the opinion of the Trustees
said lands or properties have become unsuitable or have ceased to
be used for the purposes set forth in this chapter. Such dispositions
shall be made only by a vote of the Trustees in which at least four
members vote in favor of such disposition, and further only after
having been approved by a vote of the Westerly Town Council, provided
that Town Council approval shall not be required for the disposition
of property donated with the intention of the donor that the Trust
would resell the property for fundraising purposes. Nothing in this
subsection shall be construed to authorize the sale, lease or conveyance
of lands or improvements held by the Trust as part of a charitable
trust or acquired by gift or devise for public use, whether or not
such gift or devise is subject to condition subsequent or reverter.
I.
Otherwise do all things necessary for the performance
of its duties, the fulfillment of its obligations and conduct of its
business, in particular, in regard to lands deeded to the Trust by
the Town of Westerly, and being held or managed by the Trust, said
lands shall be deeded back to the Town upon request, as supported
by resolution of the Town Council, provided that the grant from the
Town does not prohibit the same.
[Amended 7-18-2011 by Ch. No. 1754]
All funds collected shall be deposited in a
revolving and restricted account set up by the Finance Director. All
monies or other liquid assets received as voluntary contributions,
grants or loans; funds appropriated to the Trust by vote of the Town
Council; or proceeds from disposal of real property or interests shall
be deposited into said account. All expenses lawfully incurred by
the Trust in carrying out the provisions of this chapter shall be
evidenced by vouchers and shall be paid by the Finance Director of
the Town only upon submission by warrants duly approved by the Trust.
The Finance Director shall prudently invest available assets of the
funds in accordance with the Town's investment policies, and all income
thereon shall accrue to the fund.
The Town is empowered, in addition to the authority
previously granted, to issue bonds from time to time, upon the written
request of the Trust, under its corporate name and seal for the purpose
of financing the activities of the Trust under this chapter.
A.
Bonds may be issued or authorized only upon the approval
of the Westerly Town Council in accordance with the requirement for
the issuance of bonds by referendum. The bonds of each issue may be
issued in a form acceptable to the Town Council, in annual installments
of principal, the first installment to be not later than five years
and the last installment not later than 30 years after the date of
the bonds. For each issue the amounts payable annually for principal
and interest combined either shall be as nearly equal from year to
year as is practicable in the opinion of the officers authorized to
issue the bonds; or shall be arranged in accordance with a schedule
providing for a more rapid authorization of principal; or shall be
arranged in annual installments of principal each of which does not
exceed any prior installment by more than 16% of the total principal
amount.
B.
The bonds shall be signed by the Finance Director and by the president of the Town Council and shall be issued and sold in such amounts as authorized by the Town Council. The manner of the sales, denominations, maturities, interest rates and other terms and conditions and details of any bonds or notes issued under this chapter may be fixed by the proceedings of the Town Council authorizing the issue or by separate resolution of the Town Council or to the extent provisions of these matters are not so made, they may be fixed by the officers authorized to sign the bonds or notes. The proceeds derived from the sale of the bonds shall be exclusive of premiums, and accrued interest shall be expended for the purpose of real property or interests therein by the Trust; or in payment of the principal or interest on temporary notes issued under Subsection C of this section; or in repayment of advances under Subsection D of this section. No purchaser of any bonds or notes under this chapter shall be in any way responsible for the proper application of the proceeds derived from the sale thereof. The proceeds of the bonds or notes issued under this chapter, any applicable federal or state assistance, and the other money referred to in Subsection C of this section shall be deemed appropriated for the purposes of this chapter without further action than that required by this chapter.
C.
The Town Council may by resolution authorize the issue
from time to time of interest-bearing or discounted notes in anticipation
of the issue of bonds or in anticipation of the receipt of federal
or state aid for the purpose of this chapter. The amount of original
notes issued in anticipation of bonds may not exceed the amount of
bonds, which may be issued under this chapter, and the amount of original
notes issued in anticipation of federal or state aid as estimated
by the Finance Director. Temporary notes issued hereunder shall be
signed by the Finance Director and President of the Town Council and
shall be payable within one year from their respective dates, but
the principal of and interest on notes issued for a shorter period
may be renewed or paid from time to time by the issue of other notes
hereunder, provided that the period from the date of an original note
to the maturity of any note issued to renew or pay the same debt or
the interest thereon shall not exceed five years.
D.
Pending any authorization or issue hereunder or pending or in lieu of any authorization or issue of notes hereunder, the Finance Director, with the approval of the Town Council, may, to the extent that bonds or notes may be issued hereunder, apply funds in the treasury of the Town to the purposes specified in Subsection B of this section, such advances to be repaid without interest from the proceeds of the bonds or notes subsequently issued or from proceeds of applicable federal or state assistance or from other available funds.
E.
Any accrued interest received upon the sale of bonds
or notes hereunder shall be applied to the first payment of the first
interest due thereon. Any premiums arising from the sale of bonds
or notes hereunder shall, in the discretion of the Treasurer, be applied
to the cost of preparing, issuing and marketing bonds or notes hereunder
to the extent not otherwise provided, to the payment of the cost of
the acquisition of real property, to the payment of the principal
of or interest on bonds and notes issued hereunder or to any one or
more of the foregoing. The cost of preparing, issuing and marketing
bonds or notes hereunder may also, in the discretion of the Finance
Director, be met from bond or note proceeds exclusive of premium and
accrued interest or from other monies available therefor.
F.
All bonds and notes issued under this chapter and
the debts evidenced thereby shall be obligatory on the Town in the
same manner and to the same extent as other debts lawfully contracted
by the municipality. No such obligation shall at any time be included
in the debt of the Town for the purpose of ascertaining its borrowing
capacity. The Town shall annually appropriate a sum sufficient to
pay the principal and interest coming due within the year on bonds
and notes issued hereunder to the extent that monies therefor are
not otherwise provided by the Trust. If such sum is not appropriated,
it shall nevertheless be added to the annual tax levy. In order to
provide such sum in each year notwithstanding any provision of law
to the contrary, all taxable property in the Town shall be subject
to ad valorem taxation by the Town without limitation as to the rate
or amount.
G.
Any bonds or notes issued under the provisions of
this chapter, if properly executed by officers of the Town in office
on the date of execution, shall be valid and binding according to
their terms notwithstanding that before the delivery thereof and payment
therefor any or all of such officers shall for any reason have ceased
to hold office.
H.
The Town, acting by resolution of the Town Council, is authorized to apply for, contract for and expend any federal or state advances or other grants or assistance which may be available for the purposes of this chapter, and any such expenditures may be in addition to the monies provided in the ordinance. To the extent of any inconsistency between any law of this state and any applicable federal law or regulation, the latter shall prevail. Federal and state advances, with interest where applicable, whether contracted for prior to or after the effective date of this chapter, may be repaid as projected costs under Subsection B of this section.
I.
Bonds and notes may be issued under this chapter without
obtaining approval of any governmental agency or the taking of any
proceedings or the happening of any conditions except as specifically
required by this chapter for such issue. In carrying out any project
financed in whole or in part under this chapter, all action shall
be taken which is necessary to meet constitutional requirements whether
or not such action is otherwise required, but the validity of bonds
and notes issued hereunder shall in no way depend upon validity or
occurrence of such action.
J.
Notwithstanding the foregoing provisions of this section,
no bonds shall be issued in excess of amounts approved by a vote of
the Westerly Town Council. A vote not to approve an amount of bonds
hereunder shall not preclude any later vote to approve the same or
a different amount.
The Trust and all its revenues, income and real
and personal property used by the Trust for the furtherance of its
public purpose shall be exempt from taxation and from betterment and
special assessments, and the Trust shall not be required to pay any
tax, excise or assessment to the State of Rhode Island or any of its
political subdivisions.
The decision to dissolve the Trust shall only
result after a vote of the Trustees in which four members vote to
recommend dissolution of the Trust to the Westerly Town Council. The
Town Council shall then hold a public hearing on the recommendation
to dissolve. At the conclusion of the public hearing, the Town Council
shall vote on the matter within 45 days of said hearing on the dissolution.
Upon termination or dissolution of the Trust, the titles of all funds
and other properties owned by the Trust, which remain after payment
or making provisions for payment, all bonds, notes and other obligations
of the Trust shall vest in the Town of Westerly, which shall manage
the lands of the dissolved Trust in the open space function for which
they were purchased or donated. If in the opinion of a majority of
the Town Council said lands no longer function in the purposes set
forth in this chapter, the Town may dispose of those properties.
The provisions of this chapter are severable,
and if any provision thereof shall be held invalid in any circumstances,
such invalidity shall not affect any other provisions or circumstances.
This chapter shall be construed in all respects so as to meet all
constitutional requirements in carrying out the purposes and provisions
of this chapter, and all steps shall be taken which are necessary
to meet constitutional requirements whether or not such steps are
required by statute.
