The Mayor and Township Committee, annually, after the holding of one public hearing thereon, shall apportion and allocate the use of such tax receipts among the purpose or purposes set forth in §
39-1A(1) and
(2).
The Municipal 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 §§
39-1 and
39-2 herein. Any and all interest accruing shall be retained in and used for the same purposes as established in accordance with §§
39-1 and
39-2 herein. All moneys set aside for open space as of the effective date of this chapter shall be deposited into the fund.