All interest earned on investment from developer contributions to the Borough of Clayton Parks and Recreation Escrow Account shall be deposited in said escrow account and shall be used to offset the cost of parks and recreation capital improvement projects in accordance with the provisions of Chapter
88, Unified Development, of this Code.
No ordinance appropriating funds from the Borough of Clayton
Parks and Recreation Escrow Account shall render the balance of said
escrow account to less than $100,000 unless the ordinance, by its
terms and pursuant to the provisions of N.J.S.A. 40:69A-185 et seq.,
requires that said appropriation be submitted by referendum to the
qualified voters of the Borough of Clayton.