[HISTORY: Adopted by the Governing Body of
the Borough of Allendale 12-14-2006. Amendments noted where applicable.]
There is hereby established a fund entitled
"County/Municipal Open Space, Recreation, Farmland and Historic Preservation
Trust Fund" in the Borough of Allendale.
A.
There is hereby established for the year 2006 and
subsequent years a $0.005 per $100 of assessed value per year valuation
tax which shall be dedicated specifically for acquisition, development
and maintenance of property and lands for recreation and conservation
purposes; acquisition and preservation of farmland and historical
properties and payment of debt services for purposes allowed in accordance
with law (N.J.S.A. 40:12-15.1 et seq.).
B.
The funds derived from this dedicated tax shall be
maintained in a separate fund account and shall be utilized only for
the purposes authorized pursuant to this chapter and the statute referred
to hereinabove.
The amount or rate of the annual levy may be subdivided to reflect the relative portions thereof to be allocated to any of the respective purposes specified in § 55-1 above by the governing body after conducting at least one public hearing thereon.
The dedicated tax established by § 55-2A herein shall be shown as a separate line item on each property owner's tax bill and not as part of the municipal tax rate in that it is to be a dedicated tax for the purpose set forth above.
