There is hereby established, pursuant to N.J.S.A. 40:12-15.1
et seq., an account which shall be known and designated as the "Municipal
Open Space, Recreation, and Farmland and Historic Preservation Trust
Fund," which shall be maintained in accordance with N.J.S.A. 40A:4-1
and N.J.S.A. 40A:5-1, as amended and revised from time to time.
The Council of the Township of Logan shall use funds in the
Municipal Open Space, Recreation, and Farmland and Historic Preservation
Trust Fund for the acquisition and improvement of lands or interests
in lands (including costs of program administration), maintenance
and improvements to lands owned, controlled and/or acquired for active
and passive recreation and/or conservation purposes, and the payment
of debt service incurred for open space, farmland preservation, conservation,
recreation and historic preservation by the Township of Logan, independently
and in coordination with county and state agencies.
No real property or interest therein, acquired with the funds
from the Municipal Open Space, Recreation, and Farmland and Historic
Preservation Trust Fund, shall be sold, conveyed, leased or otherwise
alienated, unless it is needed for another public use or otherwise
furthers the purpose of the trust.