[Adopted 5-18-2021 by Ord. No. 1937]
The Township of Wyckoff 's Municipal Open Space Trust Fund shall
be maintained and continued for an additional five years, commencing
January 1, 2022.
The Municipal Open Space Trust Fund shall be funded by the continuance
of the annual tax levy of $0.005 (1/2 cent) per $100 of assessed valuation.
All existing and future monies contained in the Municipal Open
Space Trust Fund, and all income and interest that accrues thereon,
shall be used and allocated for any one or all of the following purposes,
or any combination thereof, as determined by the governing body after
conducting at least one public hearing:
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,
structures, facilities, sites, areas, or objects for historic preservation
purposes;
F. Payment of debt service on indebtedness issued or incurred by the municipality for any of the purposes set forth in Subsections
A,
B,
C,
D or
E of this section;
G. Trust fund monies may be returned to the taxpayers of the Township
of Wyckoff as tax relief.
The annual tax levy utilized to fund the Municipal Open Space
Trust Fund shall be in effect for a period of five years commencing
January 1, 2022.
This article shall not take effect until it is approved by the
voters in a public question at the next general election on November
2, 2021.