[HISTORY: Adopted by the Mayor and Council of the Borough of Montvale as indicated in article histories. Amendments noted where applicable.]
[Adopted 3-9-1999 by Ord. No. 99-1117 (Ch. 73 of the 1966 Code)]
A. 
There is hereby established a reserve in the Borough's general capital fund which shall be known and designated as the "Municipal Open Space, Recreation and Farmland and Historic Preservation Trust Fund." A separate bank account shall be opened and maintained for this purpose.
[Amended 2-12-2002 by Ord. No. 2002-1171]
Said funds shall be designated solely for the establishment, maintenance and improvement of a system of public recreation, including parks, open space and playgrounds, within the Borough of Montvale.
A. 
The Municipal Open Space, Recreation and Farmland and Historic Preservation Trust Fund shall be funded through the dedication to the fund of an amount not to be less than two mils ($0.002 per $100) of assessed valuation of each annual tax levy and not to exceed $0.02 per $100 of assessed valuation of each annual tax levy, as may be determined by the governing body.
B. 
The fund shall also be permitted to accept donations and testamentary bequests.
C. 
Any and all interest accruing shall remain in the Fund and may be utilized for the above-described purposes.
If any section, subsection, paragraph, subdivision, sentence, clause, phrase or provision of this article shall for any reason be held unconstitutional or invalid, such adjudication shall apply only to the section, subsection, paragraph, subdivision, sentence, clause, phrase or provision so adjudged, and the remainder of the chapter shall be deemed valid and effective.
This article shall take effect immediately after passage and publication as provided by law.
[Adopted 11-28-2017 by Ord. No. 2017-1435 (Ch. 54, Art. I, of the 1966 Code)]
There is hereby established a trust fund to be known as the "Self-Insurance Fund for Health Insurance Benefits" (hereinafter the "fund") pursuant to N.J.S.A. 40A:10-1 et seq., and regulations established by the New Jersey Department of Community Affairs.
A. 
The Mayor shall appoint three Borough officials, who may be members of the governing body, to serve as Insurance Fund Commissioners. The Mayor shall appoint a person to serve as Secretary to the Insurance Fund Commissioners, who shall serve at the pleasure of the governing body.
[Amended at time of adoption of Code (see Ch. 1, General Provisions, Art. II)]
B. 
The Commissioners shall hold office for two years or the remainder of their term of office as officials, whichever shall be less, and until their successors shall have been duly appointed and qualified. The Commissioners shall serve without compensation. The salary of the Secretary shall be set by the salary ordinance authorized by the governing body.
C. 
Each year, the Commissioners shall elect among themselves a chairperson, who shall serve for a term of one year.
D. 
All vacancies in the office of Insurance Fund Commissioner or in the office of Secretary shall be filled as set forth in N.J.S.A. 40A:10-8.
A. 
The Insurance Fund Commissioners shall have all powers and authority set forth in N.J.S.A. 40A:10-10.
B. 
The Borough Chief Financial Officer shall be the custodian of the fund and shall bear responsibility for the fund in the same manner and to the same extent as other public funds under his/her care. All interest earned on the fund shall accrue to the fund's principal.
C. 
To the extent necessary, and subject to rules and regulations established by the Insurance Fund Commissioners:
(1) 
The Borough Administrator and Chief Financial Officer shall annually estimate the probable maximum exposure of the fund during the calendar year.
(2) 
The Borough Administrator and Chief Financial Officer shall include, as part of the recommended annual operating budget, an amount, in his/her opinion, needed to adequately fully fund the employee health reimbursement account and responsibly estimate the costs associated with the calendar year.
(3) 
The Borough Administrator, upon the recommendation of the Borough's Risk Manager, shall fix reasonable rates of reimbursements for all insurance carried by the Insurance Fund to be applied to the various covered persons and dependent categories, and shall effect all insurance in the Insurance Fund or with any insurance company or companies authorized to do business in the State of New Jersey.
(4) 
The Chief Financial Officer and/or Borough Treasurer shall collect and incorporate in the fund employee and retiree contributions for health benefits which are made pursuant to applicable Borough ordinances and contracts or in accordance with Chapter 78, P.L. 2011.
D. 
The governing body of the Borough of Montvale shall appropriate such funds as are necessary to accomplish the purposes for which the Self-Insurance Fund for Health Insurance Benefits is established.
[Amended at time of adoption of Code (see Ch. 1, General Provisions, Art. II)]
All ordinances or parts of ordinances in conflict with this article are hereby repealed only to the extent necessary to give this article full force and effect.
The various parts, sections and clauses of this article are hereby declared to be severable. If any part, sentence, paragraph, section or clause is adjudged unconstitutional or invalid by a court of competent jurisdiction, the remainder of the article shall not be affected thereby.
This article shall become effective upon adoption and publication as required by law.