[Adopted 12-14-1999 by Ord. No. 99-15]
There is hereby created a Township of Pohatcong
Open Space/Farmland Trust Fund, whose purposes are set forth below.
[Amended 9-5-2018 by Ord.
No. 18-05]
Funds from the open space/farmland trust fund may be utilized
for any of the following purposes:
A. Acquisition
of lands 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. Acquisition of farmland for farmland preservation purposes;
E. Historic preservation of historic properties, structures, facilities,
sites, areas or objects, and the acquisition of such properties;
G. Payment of debt services or indebtedness issued or incurred for any
of the foregoing purposes.
The funding source for the Township Open Space/Farmland
Trust Fund shall be the establishment of a separate township tax line
item at an annual rate not to exceed $0.05 per $100 of ratable for
each and every taxable property located within the township. The rate
shall be set every year by the Township Council, by ordinance, during
the existence of the Township Open Space/Farmland Trust Fund, no later
than the meeting at which the township budget shall be introduced.
The Township Chief Financial Officer, the Township Auditor and the
Township Tax Assessor shall assist the Township Council in the annual
creation/collection of this open space tax.
The determination of how the Township Open Space/Farmland
Trust Fund shall be expended at anytime shall be at the sole discretion
of the Township Council and it shall be the final determiners of the
allocation(s) of the Trust Fund during its existence.
No property acquired with these funds from the
reserve for open space/farmland acquisition shall be leased or sold,
until the sale or lease of the same has been authorized by the Township
Council in the manner prescribed by law.