There is hereby established an Open Space Trust
Fund, which fund shall be administered by the Mayor and Council.
No property or interest in land acquired with
funds 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 Mayor and Council after and in accordance with a binding public
referendum.
Prior to July 1, 2000, the Mayor and Council
shall review the desirability of continuation of additional funding
of the Open Space Trust Fund, and either authorize the continuation
or termination of the fund. In the event that a determination is made
not to continue funding, this article shall no longer be valid after
December 31, 2000.
There is hereby established a Dedicated Fund
for Municipal Parks and Township Recreation.
The use of the funds in the dedicated fund shall
be determined by the Mayor and Council for municipal parks and for
use towards township recreation.
The dedicated fund shall be funded from all
revenues received in connection with the leasing of said parcel for
cell tower use.
The dedicated fund shall be established annually
by an appropriation named "Dedicated Fund for Municipal Parks and
Township Recreation." This annual appropriation will not be subject
to transfer as provided by N.J.S.A. 40A:4-58.