[HISTORY: Adopted by the Township Committee of the Township of Middletown 12-21-1998 by Ord. No. 98-2531 (Ch. 39 of the 1996 Township Code). Amendments noted where applicable.]
There is hereby authorized and established a specific and dedicated tax assessment of $0.01 per $100 of assessed property valuation, to be assessed and paid on all taxable property in the Township commencing with the tax year 1999 and continuing thereafter. The monies collected pursuant to such specific and dedicated tax will be used specifically and solely to acquire, preserve and improve lands for open space, conservation, recreation and parklands by the Township of Middletown.
There is hereby created the Open Space Trust Fund, to be administered by the Department of Finance of the Township of Middletown subject to the provisions of the within chapter, which trust fund shall have deposited in it the special assessment of $0.01 per $100 of assessed property valuation.
The Township Finance Officer shall establish such trust fund in a manner perpetually to keep separate and apart from all other Township budgeted items all costs in connection therewith and all funds collected pursuant hereto.
The Township Finance Officer, together with the Tax Assessor and Tax Collector, shall cooperate as necessary and convenient for the administration of said trust fund, including but not limited to creation of a separate line item on the municipal tax bills forwarded to all Middletown Township taxpayers, identifying the trust fund as follows: "Municipal Open Space Tax" and inserting opposite such separate line item the amount to be collected for such fund as calculated pursuant to the said $0.01 per $100 of assessed valuation, as approved by the voters of Middletown at said referendum conducted November 3, 1998.
In the event the Township of Middletown shall become the beneficiary, by way of gift, federal or state grant or other funding sources of any lands or unrestricted funds, such lands and/or funds may, at the discretion of the Township Committee be deposited in the said trust fund, in the case of monies, or placed upon the trust fund's register or open lands, as the case may be.
It is the intention of this chapter to comply with all applicable state and federal programs governing the acquisition of open space for active or passive recreational and like purposes.
All lands acquired through the program herein authorized shall be set aside and dedicated for such open space purposes and all deeds and other applicable documents shall so indicate.
All decisions respecting the acquisition and payment of such lands shall be the determination of the Township Committee, subject to applicable state and federal regulations.