There is hereby established a reserve in the
General Capital Fund which shall be known and designated as the "Municipal
Open Space Trust Fund." A special bank account shall be opened and
maintained for the Municipal Open Space Trust Fund.
Funds from the Municipal Open Space Trust Fund
may be utilized for the following purposes:
A. The acquisition and development and/or maintenance
of lands for recreation and/or conservation.
B. The acquisition of farmland for farmland preservation.
C. Historic preservation of historic properties, sites,
structures, facilities, areas or objects for historic, educational
or recreational purposes.
D. Payment of debt service on indebtedness issued or incurred by the Township of Franklin for any of the purposes as set forth in Subsection
A through
C above.
As used in this chapter, the following terms
shall be defined as follows:
ACQUISITION
The securing of a fee simple or a lesser interest in land,
including but not limited to an easement restricting development,
by gift, purchase, installment purchase agreement, devise or condemnation.
CONSERVATION
The use of land or lands for parks, open space natural areas,
ecological and biological studies, forests, water reserves, or wildlife
preserves for the conservation of natural resources.
DEVELOPMENT
Any improvement to land acquired for the purposes of the
fund as stated in this chapter, designed to expand and enhance its
utilization for such purposes.
FARMLAND
Land actively devoted to agricultural or horticultural use
that qualifies to be valued, assessed, and taxed pursuant to the Farmland
Assessment Act of 1964, P.L. 1964, c. 48, N.J.S.A. 54:4-23 et seq.
HISTORIC PRESERVATION
The acquisition, maintenance and restoration of properties
of historic significance to Franklin Township.
LAND, LANDS or PROPERTY
Any real property, including improvement thereof or thereon,
rights-of-way, water, lakes, streams, rivers, riparian and other rights,
easements, development rights, privileges, licenses and all other
rights or interests of any kind or description in, relating to or
connected with real property.
RECREATION
The use of land or lands for parks, athletic facilities,
open space, fishing, hunting, camping, boating, winter sports, or
similar uses for either public outdoor recreation or the use of lands
for public indoor recreation.
[Amended 12-6-2010 by Ord. No. 2010-12]
The Municipal Open Space Trust Fund shall be funded through the dedication to the fund of an amount up to $.065 per $100 of assessed valuation of each annual tax levy commencing with the 2011 tax year and the 2011 budget year. The Municipal Open Space Trust Fund shall also be permitted to accept donations and testamentary bequests. The accumulated receipts and deposits within the Municipal Open Space Trust Fund may be utilized only for the purposes set forth in §
28-2 of this chapter. Any and all interest accruing shall be retained in and used for the same purposes as established in accordance with §
28-2 of this chapter.
The Township Committee of the Township of Franklin, annually, after the holding of one public hearing thereon, shall apportion and allocate the use of the funds collected among the purposes set forth in §
28-2 of this chapter.
Any and all land, lands or property acquired
by the Township of Franklin pursuant to this chapter shall be held
by the Township of Franklin in trust. The deed or other instrument
of conveyance into the Township of Franklin shall bear a legend stating
that said land, lands or property are conveyed to the Township of
Franklin subject to this chapter.
No land, lands or property acquired pursuant
to this chapter with funds from the Municipal Open Space Trust Fund
shall be leased, sold or otherwise conveyed unless action has been
authorized by the Township Committee of the Township of Franklin in
a manner as prescribed by law. The Township Committee of the Township
of Franklin, after at least one public hearing thereon, and upon a
finding that the purposes of this chapter shall otherwise be better
served or that any land acquired by the Township of Franklin pursuant
to this chapter is required for another public use, may, by Ordinance,
convey through sale, exchange, transfer or other disposition, title
to or a lesser interest in that land, lands or property, provided
that the Township of Franklin shall replace any land, lands or property
of at least equal fair market value and of reasonably equivalent usefulness,
size, quality and location to the land conveyed. Any moneys derived
from the conveyance shall be deposited into the Municipal Open Space
Trust fund created by the chapter.