Source: https://ecode360.com/12399485
Timestamp: 2017-10-19 08:50:01
Document Index: 575116442

Matched Legal Cases: ['Art 1', '§ 21', '§ 21', '§ 21', 'Art 2', '§ 21', '§ 21', '§ 21', '§ 21']

Township of Chester, NJ Funds
Ch 21 Art 1 Open Space Trust Fund
§ 21-3 Funding.
§ 21-4 Disposition of property or other interests in land.
§ 21-5 Effect of chapter after December 31, 2000.
Ch 21 Art 2 Municipal Parks and Township Recreation Fund
§ 21-6 Establishment of dedicated fund.
§ 21-7 Purposes.
§ 21-8 Source of funding.
§ 21-9 Annual appropriation.
Chapter 21: Funds
Open Space Advisory Committee — See Ch. 36.
Chapter 21 : Funds
Article 1 Open Space Trust Fund
Article 2 Municipal Parks and Township Recreation Fund
Article 1: Open Space Trust Fund
[Adopted 5-18-1999[1]]
Editor's Note: This ordinance superseded former Ch. 21, Art. I, Open Space Trust Fund, adopted 3-5-1996 by Ord. No. 96-1.
There is hereby established an Open Space Trust Fund, which fund shall be administered by the Mayor and Council.
The Mayor and Council are authorized by majority vote to make the acquisition of lands, easements and/or development rights to specified lands in the township.
The Township Council shall determine the amount of funds that the Council shall make available for each acquisition.
After selection of the lands, easements or development rights as hereinabove provided, the Mayor and Council may proceed to acquire by gift, purchase or by eminent domain proceedings pursuant to N.J.S.A. 20:3-1 et seq. the identified lands, easements or development rights within the financial constraints established by the Township Council.
There is hereby established a reserve in the township's general capital fund, which shall be known and designated as the "Open Space Trust Fund." A separate bank account shall be opened and maintained for this purpose.
Funds from the account may be used, as directed by the Mayor and Council, to acquire vacant land, easements and development rights. Funds from the account may also be used to acquire land which has improvements upon it at the time of acquisition, provided that the principal purpose of the acquisition is to preserve open space. In the event that the Mayor and Council shall find it appropriate to apportion the cost of acquisition between open space and improvements, it may do so and charge the Open Space Trust Fund for the approximate value that they deem appropriate relative to open space and the Township's capital account for the value that it determines attributable to improvements. Further, funds from the account may be used for recreationally related development and improvement of lands acquired for recreation and conservation purposes and maintenance of lands acquired for recreation and conservation purposes.
[Amended 12-1-2015 by Ord. No. 2015-12]
The Open Space Trust Fund shall be funded through the dedication to the fund of an amount not to exceed $0.02 per $100 of assessed valuation of each annual tax levy. The fund shall also be permitted to accept donations and testamentary bequests. The funds accumulated within the Fund may be utilized for the acquisition of land, easements and/or development rights as a downpayment for the issuance of bonds for the same purpose, at the discretion of the Mayor and Council. Any and all interest accruing shall remain in the fund and may be utilized for the above-described purposes.
No property or interest in land acquired with funds from the Open Space Trust Fund shall be leased, sold or otherwise disposed of by the township until the disposition has been authorized by the Mayor and Council after and in accordance with a binding public referendum.
Prior to July 1, 2000, the Mayor and Council shall review the desirability of continuation of additional funding of the Open Space Trust Fund, and either authorize the continuation or termination of the fund. In the event that a determination is made not to continue funding, this article shall no longer be valid after December 31, 2000.
Article 2: Municipal Parks and Township Recreation Fund
[Adopted 8-1-2000]
There is hereby established a Dedicated Fund for Municipal Parks and Township Recreation.
The use of the funds in the dedicated fund shall be determined by the Mayor and Council for municipal parks and for use towards township recreation.
The dedicated fund shall be funded from all revenues received in connection with the leasing of said parcel for cell tower use.
The dedicated fund shall be established annually by an appropriation named "Dedicated Fund for Municipal Parks and Township Recreation." This annual appropriation will not be subject to transfer as provided by N.J.S.A. 40A:4-58.