[Adopted 3-3-1986 (Ch. 31 of the 1987 Code)]
The Township Council has recognized that there
is an insurance crisis within the State of New Jersey with respect
to municipal liability insurance coverage. Such coverage can either
not be obtained at all or only obtained at prohibitive premium rates.
In order to respond to the aforesaid crisis, the Township of Bloomfield
desires to create a municipal insurance fund pursuant to authority
granted it by the laws of New Jersey.
As used in this article, the following terms
shall have the meanings indicated:
CHAIR
The duly elected Chair of the Township of Bloomfield Municipal
Insurance Fund Commission.
COMMISSION
The Township of Bloomfield Municipal Insurance Fund Commission.
COMMISSIONER
Any properly chosen member of the Township of Bloomfield
Municipal Insurance Fund Commission.
COUNCIL
The duly elected members of the Township Council of the Township
of Bloomfield.
FUND
The Township of Bloomfield Municipal Insurance Fund.
MAYOR
The duly elected Mayor of the Township of Bloomfield.
OFFICIAL
Any department head or division head employed by the Township
of Bloomfield and the Mayor and members of the Township Council.
SECRETARY
The duly appointed Secretary to the Township of Bloomfield
Municipal Insurance Fund Commission.
There is hereby created a Municipal Insurance
Fund Commission within the Township consisting of three members who
shall be called "Commissioners."
Commissioners of the fund shall be appointed
as follows:
A. One Commissioner shall be a local or elected official
appointed by the Mayor.
B. Two Commissioners shall be local or elected officials
appointed by majority vote of the Township Council.
A Commissioner shall serve without compensation.
Immediately after their appointment, the Commissioners
shall organize for the ensuing year and elect a Chair from their membership
who shall serve for a term of one year.
The Commissioners shall have the following powers
and authority:
A. To invest the fund and all additions and accretions
thereto in such securities as they shall deem best to maintain the
integrity of the fund.
B. To adopt rules and regulations for the control and
investment of the fund.
C. To keep on hand in the fund sufficient cash or securities
which can immediately be converted to cash for the payment of losses.
D. To obtain whatever insurance coverage they can, at
reasonable rates, to maintain the integrity of the fund.
[Adopted 8-5-2002 by Ord. No. 02-24 (Ch.
44 of the 1987 Code); amended in its entirety 5-4-2009 by Ord. No. 09-35]
There is hereby established an Open Space Trust Fund, which
fund shall be administered by the governing body of the Township of
Bloomfield.
A. Powers and duties. The governing body of the Township of Bloomfield
is authorized, by majority vote, to make the acquisition of lands
or acquisition of property or easements within the Township of Bloomfield
for active and passive recreation and for conservation purposes. The
governing body shall determine the amount of funds that it will make
available for each acquisition.
B. Funding.
(1) There is hereby established a reserve in the Township's General Capital Fund
which shall be known as the "Open Space Trust Fund," which shall be
maintained in accordance with N.J.S.A. 40A:4-1 and N.J.S.A. 40A:5-1.
A separate bank account shall be opened and maintained for this purpose.
The funds from the account may be used, as directed by the governing
body, for a) acquisition of land for recreation and conservation purposes;
b) development of lands acquired for recreation and conservation purposes;
c) maintenance of lands acquired for recreation and conservation purposes;
d) payment of debt service on indebtedness issued or incurred by the
Township for any of the purposes set forth above. The funds from the
account may also be used to acquire land which has improvements on
it at the time of acquisition, provided that the principal purpose
of the acquisition is to preserve open space. In the event that the
governing body shall find it appropriate to apportion the cost of
acquisition between open space and improvement, it may do so and charge
the Open Space Trust Fund for the approximate value that the governing
body deems relative to open space and the Township's capital account
for the value that it determines attributable to improvements. Furthermore,
the Mayor and Council hereby determine to allocate an amount not to
exceed $500,000 for development of the property commonly referred
to as Lion Gate Estates located on Lots 130, 131 and 132, Block 792.
[Amended 10-15-2012 by Ord. No. 12-62]
(2) Effective January 1, 2013, and every year after, the Open Space Trust
Fund shall be funded through the dedication to the fund of an amount
of $0.005 per $100 of assessed valuation of the annual tax levy. The
Open Space Trust Fund shall also be permitted to accept donations
and testamentary bequests. The monies accumulated within Open Space
Trust Fund may be utilized for the acquisition of land and/or easements.
Any and all interest accruing shall remain in the Open Space Trust
Fund and may be utilized for the above-described purpose.
[Amended 5-2-2011 by Ord. No. 11-27; 5-7-2013 by Ord. No. 13-19]
C. Disposition of property or other interest in land. No property or
interest in land acquired with monies from the Open Space Trust Fund
shall be leased, sold or otherwise disposed of by the Township until
the disposition has been authorized by the Township Council.
There is hereby established an Open Space Trust Committee, which
shall consist of seven members whose terms and powers are hereinafter
set forth.
The Open Space Trust Committee shall be comprised of the following
persons:
A. One member of the Township Council of the Township of Bloomfield
appointed by the Township Council.
B. The Engineer of the Township of Bloomfield appointed by the Township
Council.
C. Five residents of the Township appointed by the Township Council.