[HISTORY: Adopted by the Town Board of the Town of East Hampton 11-5-1993 by L.L. No. 30-1993. Amendments noted where applicable.]
The Town Board of the Town of East Hampton hereby establishes a separate fund to be known as the "Environmental Preservation Fund."
There shall be paid into the Environmental Preservation Fund:
The amounts paid into the Environmental Preservation Fund shall be used exclusively for the following purposes:
The costs relating to the acquisition of open spaces and areas pursuant to § 247 of the General Municipal Law.
The costs relating to the management of lands acquired as open spaces or areas where management activities would be consistent with the goals of preservation and would promote enjoyment of said public lands.
The costs relating to town-approved projects to control or remediate pollution to town surface waters. Said projects shall be determined to be innovative and necessary to protect a critically important natural resource. Costs to maintain or repair existing infrastructure or relating to normal operation and maintenance of town facilities shall not be eligible.
The Town Board may establish a citizens advisory committee of five to seven members for the purpose of evaluating and recommending eligible projects under the provision of this chapter. However, only the Town Board, by formal resolution, may authorize an expenditure from the Environmental Preservation Fund.
The moneys in the Environmental Preservation Fund shall be deposited in one or more of the banks or trust companies designated as banks of deposit by the Town Board. The Supervisor may invest the moneys in such fund obligations permitted by the state law. Any interest earned or capital gain realized on the money so deposited or invested shall accrue to and become part of the Environmental Preservation Fund.
The Supervisor shall account for the Environmental Preservation Fund separate and apart from all other funds of the town. Such accounting shall show the source, date and the amount of each sum paid into the Environmental Preservation Fund; the interest earned by the fund; capital gains or losses resulting from the sale of investments of the fund; the order, source thereof, date and amount of each payment from the fund; the assets of the fund indicating cash balance and a schedule of investments. The Supervisor, within 60 days of the end of each fiscal year, shall furnish a detailed report of the operation and condition of the Environmental Preservation Fund to Town Board.
The Environmental Preservation Fund shall also be subject to all requirements and limitations provided for by state law.
The Town Board, by resolution, may establish rules and regulations necessary to implement the provisions of this section.
Effective for any fiscal year commencing after the effective date of this local law, an individual may elect to contribute to the town's Environmental Preservation Fund for the purposes stated in § 22-1C of this chapter. The Receiver of Taxes may provide an enclosure with the annual real property tax bill to explain the Environmental Preservation Fund and to enable a taxpayer to make such contribution. All revenue collected pursuant to this section shall be credited to the Environmental Preservation Fund and shall be used only for the purposes stated in § 22-1C of this chapter.