[HISTORY: Adopted by the Township Council of the Township of Pohatcong as indicated in article histories. Amendments noted where applicable.]
[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;
F. 
Blue acres projects;
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.