[Adopted 3-28-2001 by Ord. No. 2004-01; amended in its entirety 2-11-2004 by Ord. No. 2004-01]
This article shall be known as the "Municipal Open Space, Recreation,
Farmland and Historic Preservation Ordinance."
Beginning in 2004, a special tax rate shall be added to the
total Township tax rate in the amount of $0.04 per $100 of the annual
assessed valuations and tax rate, the revenue from which shall be
deposited into the Open Space, Recreation, Farmland and Historic Preservation
Trust Fund. The Township Committee may, at its discretion, deposit
additional municipal monies into the Open Space, Recreation, Farmland
and Historic Preservation Trust Fund, which deposits shall then be
subject to all of the provisions governing the Open Space, Recreation,
Farmland and Historic Preservation Trust Fund. The Open Space, Recreation,
Farmland and Historic Preservation Trust Fund shall also be permitted
to accept donations and testamentary bequests. The funds accumulated
within the Open Space, Recreation, Farmland and Historic Preservation
Trust Fund shall be utilized for the purposes as set forth in this
chapter. In connection with the acquisition of real estate or personal
property, the funds may be utilized for appraisals and other items
of expense permitted by law in connection with said acquisition or
as a down payment for the issuance of bonds or for debt service for
the same purpose at the discretion of the Township Committee. Any
and all interest accruing shall remain in the Open Space, Recreation,
Farmland and Historic Preservation Trust Fund and may be utilized
for the above-described purposes. The Township shall obtain a minimum
of one appraisal from a certified appraiser, plus the appraisal of
the tax, as a guide to fair market value. The cost of such appraisal
may be paid out of the Open Space, Recreation, Farmland and Historic
Preservation Trust Fund.
No real estate or personal property or interest therein acquired
with funds from the Open Space, Recreation, 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 purposes of the Trust. If such a sale, lease or conveyance
is made, the Township Committee shall be required to:
A. Place the monies received into the Open Space, Recreation, Farmland
and Historic Preservation Trust Fund for uses consistent with the
purposes of which said fund was created; and
B. In due course, replace such property or interest with property or
an interest of at least equal fair market value and of reasonable
equivalent usefulness, size, quality and location of the land conveyed.