[Ord. of 1-14-2002]
A special town fund is hereby created and shall be designated
as the "Landfill Settlement Fund," which shall be a separate fund
of the Town. All sums received by the Town as a result of the litigation
and settlement of the action entitled, Brickley v. Waste Management
of Connecticut, Inc., Judicial District of Litchfield, Document No.
CV 92-0060522, shall be deposited into this fund.
[Ord. of 1-14-2002]
Upon appropriation made in accordance with law, including the
Town Charter and this article, the monies in the fund, including any
interest earned thereon, may be expended for the following purposes
only:
(1)
The acquisition of land and buildings thereon for municipal public
recreation purposes, public education purposes, or public library
facilities.
(2)
Construction of municipal public recreation, educational or library
facilities.
(3)
The acquisition of land and buildings thereon for open space.
(4)
The purchase or acquisition of development rights of farm and agricultural
land.
(5)
The monies in the fund may be applied against the annual budget as
follows:
a.
For fiscal year 2002-03, in an amount not to exceed $2,600,000.
b.
For fiscal year 2003-04, in an amount not to exceed 40% of the total
fund balance available as of July 1, 2003.
c.
For fiscal year 2004-05, in an amount not to exceed 30% of the total
fund balance available as of July 1, 2004.
d.
For fiscal year 2005-06, in the amount not to exceed 20% of the total
fund balance available as of July 1, 2005.
e.
For fiscal years 2006-07 through 2023-24, in an amount not to exceed
10% of the total fund balance available as of July 1 of each fiscal
year.
