[HISTORY: Adopted by the Township Council of the Township of Lopatcong 12-1-1999 by Ord. No. 1999-27. Amendments noted where applicable.]
GENERAL REFERENCES
Zoning and land use — See Ch. 243.
A. 
There is hereby established on reserve in the general capital fund which shall be known and designated as the "Municipal Open Space, Recreation, and Farmland and Historic Preservation Trust Fund." A special bank account shall be opened and maintained for this purpose. Funds from the Municipal Open Space, Recreation, and Farmland and Historic Preservation Trust Fund may, as directed by the Mayor and Township Council, be utilized to acquire by gift, purchase or by eminent domain proceedings pursuant to N.J.S.A. 20:3-1 et seq., development easements, other easements, vacant land, as well as land which has improvements upon it at the time of acquisition, if it is for any of the following purposes, or any combination thereof:
(1) 
Acquisition of lands for recreation and conservation purposes.
(2) 
Development of lands acquired for recreation and conservation purposes.
(3) 
Maintenance of lands acquired for recreation and conservation purposes.
(4) 
Acquisition of farmland for farmland preservation purposes.
(5) 
Historic preservation of historic properties, structures, facilities, sites, areas or objects, and the acquisition of such properties, structures, facilities, sites, areas or objects for historical preservation purposes.
(6) 
Payment of debt service on indebtedness issued or incurred by the Township of Lopatcong for any of the purposes set forth in Subsection A(1) through (5) above.
B. 
Any such land or improvements purchased hereunder shall be held by the Township of Lopatcong, in trust.
The Mayor and Township Council, annually, after the holding of one public hearing thereon, shall apportion and allocate the use of such tax receipts amount for the purpose or purposes set forth in § 37-A(1) through (6).
[Amended 5-29-2001 by Ord. No. 2001-17]
The Municipal Open Space, Recreation and Farmland and Historic Preservation Trust Fund shall be funded through the dedication to the fund of an amount of $0.03 per $100.00 of assessed valuation of each annual tax levy commencing with the year tax and budget year 2001. The fund shall also be permitted to accept donations and testamentary bequests. The accumulating receipts and deposits within the fund may be utilized for the purposes set forth in §§ 37-1 and 37-2, herein.
A. 
No property acquired with these funds shall be leased or sold, unless action has been authorized by the Mayor and Township Council in a manner as prescribed by law.
B. 
The Mayor and Council, after at least one public hearing thereon, and upon a finding that the purposes of this chapter might otherwise be better served or that any land acquired by the Township of Lopatcong pursuant to this chapter is required for another public use, may by ordinance convey, through sale, exchange, transfer or other disposition, title to, or a lesser interest in, that land, provided that the Township of Lopatcong shall replace any land conveyed under the section by land of at least fair market value and of reasonably equivalent usefulness, size, quality and location to the land conveyed. Any money derived from the conveyance shall be deposited into the fund created hereunder.
C. 
Any conveyance made pursuant to this section shall be made in strict accordance with the Local Lands and Buildings Law (N.J.S.A. 40A:12-1 et seq.). In the event of conveyance by exchange, the land or improvements thereon to be transferred to the trust shall be at least equal in fair market value and of reasonably equivalent usefulness, size, quality and location to the land or improvements transferred from the trust.
In the event that no property is acquired under this chapter for a period of five consecutive years, then the Mayor and Township Council shall review the activities of the Advisory Open Space Council and issue a report with recommendations and conclusions concerning the continuation of the fund.