[HISTORY: Adopted by the Township Council
of the Township of Washington as indicated in article histories. Amendments
noted where applicable.]
[Adopted 3-25-1997 by Ord. No. 4-1997]
Pursuant to N.J.S.A. 40A:10-6, an Insurance
Fund is hereby established for all purposes permitted by said statute.
Pursuant to N.J.S.A. 40A:10-8 there is hereby
established an Insurance Fund Commission and the Mayor is hereby authorized
and directed to appoint three officials of the local unit to serve
as Insurance Commissioners and a person to serve as secretary to the
Insurance Fund Commission.
[Adopted 2-15-2001 by Ord. No. 3-2001]
There is hereby established an account which
shall be known and designated as the "Open Space Dedicated Trust Fund"
which shall be maintained in accordance with N.J.S.A. 40A:4-1 et seq.
and N.J.S.A. 40A:5-1 et seq.
A.
Effective January 1, 2011, the Open Space Trust Fund
shall be funded through the dedication to the fund of an amount of
$0 per $100 of assessed valuation of the annual tax levy. Effective
January 1, 2012, and every year thereafter, 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 the annual tax levy. The fund
shall also be permitted to accept donations and testamentary bequests.
Effective January 1, 2013, and every year thereafter, the Open Space
Trust Fund shall be funded through the dedication to the fund of an
amount of $0.01165 per $100 of assessed tax levy or the amount of
debt service for the year, whichever is less. Effective January 1,
2018, and every year thereafter, the Open Space Trust Fund shall be
funded through the dedication to the fund in the amount of $0.01 per
$100 of the assessed tax levy.
[Amended 4-26-2011 by Ord. No. 8-2011; 5-22-2013 by Ord. No.
15-2013; 10-25-2017 by Ord. No. 29-2017]
B.
The funds accumulated within the trust fund may be
utilized for conservation purposes and for the acquisition of land
or development rights in land for active and passive recreation including
appraisals and other items of expense permitted by law in connection
with the acquisition and maintenance of the property or as down payment
for the issuance of bonds for the same purpose or as payment for the
debt service on said bonds at the discretion of the Township Council.
The Township Council is to determine the properties or development
rights to be acquired by gift, purchase or eminent domain proceedings
pursuant to N.J.S.A. 20:3-1 et seq. within the financial constraints
it establishes.
No property acquired with these funds from the
Open Space Trust Fund shall be leased or sold until the sale or lease
of the same has been authorized by the Township Council subsequent
to approval by referendum or as in the manner prescribed by law.
