Expenditures shall be made from the fund only in accordance
with the following procedures and requirements:
A. With regard to Town acquisitions, expenditures from the fund shall
be made exclusively for acquisition costs, including, but not limited
to, appraisal preacquisition costs, such as appraisals and other due
diligence, and closing costs of real property or of easements, interests
or other rights therein in real property, the use of which shall be
limited to open space purposes;
B. With regard to Town contributions, expenditures from the fund shall be made exclusively to preservation entities for the cost set forth in §
92-1A(2) above;
C. The 8-25b fees shall be used solely for the purposes set forth in §
92-1A(1) above;
D. Expenditures from the fund shall only be made for acquisitions that have been approved in accordance with the procedures set forth in §
92-4 below; and
E. All expenditures from the fund shall conform to the Town's general
procedures with regard to the expenditure of municipal funds.
Prior to the receipt of funding pursuant to a Town contribution approved in accordance with §
92-4 above, a preservation entity shall enter into a contract with the Town, which contract shall provide, among other things, that the document to be recorded on the Colchester land records (e.g., deed, easement) that creates the conditions and restrictions relating to open space purposes that shall burden the subject property (the conditions/restrictions) shall provide that:
A. The conditions/restrictions shall be perpetual.
B. Such preservation entity shall comply with or enforce, as applicable,
the conditions/restrictions.
C. The Town shall have the right, from time to time, to inspect the
subject property for compliance with the conditions/restrictions.
D. In the event such preservation entity fails to comply with or enforce,
as applicable, the conditions/restrictions, the Town shall have the
right, but not the obligation, to comply with or enforce, as applicable,
the conditions/restrictions. In the event the Town so complies with
or enforces, as applicable, the conditions/restrictions, such preservation
entity shall promptly, upon its receipt of written notice from the
Town, reimburse the Town for the Town's costs therefor.
E. For purposes of such contract and such document for the land records,
references to such preservation entity shall include its successors
and assigns.