The Mayor and Township Committee shall appoint members to an
Open Space Advisory Committee each year at the annual Township reorganization
meeting. The Open Space Advisory Committee shall evaluate and recommend
properties and projects for inclusion in the Open Space Trust Fund
Program.
The Mayor and Township Committee, after reviewing any recommendations
of the Open Space Advisory Committee and the holding of a public hearing
thereon, shall apportion and allocate the moneys from the Open Space
Trust Fund.
The Open Space Trust Fund shall be funded through the dedication to the fund of an amount of $0.02 per $100 of assessed valuation of each annual tax levy commencing with the year tax and budget year 1998. The fund shall also be permitted to accept donations and testamentary bequests. The accumulated receipts and deposits within the fund may be utilized for the purposes set forth in §
43-1 herein. Any and all interest accruing shall be retained in and used for the same purposes as established in accordance with §
43-1 herein.
In the event that no property or easements are acquired under
this chapter for a period of five consecutive years, then the Mayor
and Township Committee shall review the activities of the Advisory
Open Space Committee and issue a report with recommendations and conclusions
concerning the continuation of the fund.