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Posted on: October 10, 2018

Open Space Trust Fund Public Referendum

Referendum

There will be a public referendum question on Election Day - Tuesday, November 6th, 2018 as to whether the Borough should amend the language of the Open Space Trust Fund to expand the permitted uses of the fund. The amount of monies collected or tax rate will not change, regardless of the outcome of the vote. The language on the ballot is as follows: 

Municipal Referendum Question No. 1 of 1
Shall the Borough of Pompton Lakes expand the permitted use of the existing Open Space, Park Land and Recreational Facilities Preservation and Acquisition Trust Fund in the following manner and according to the following purposes:

1. The Open Space, Park Land and Recreational Facilities Preservation and Acquisition Trust Fund shall continue to be funded through the collection of local property taxes in an amount of $0.01 (1 cent) per one hundred ($100.00) dollars of assessed value, per annum. Monies within the Open Space, Park Land and Recreational Facilities Preservation and Acquisition Trust Fund shall be used for any one or all of the following purposes or any combination thereof, as determined by the governing body:

a. the acquisition, of open space for conservation, parkland, and recreational facilities by the Borough.
b. capital improvements to open space for conservation, parkland, and recreational facilities by the Borough.
c. the reconstruction of open space for conservation, parkland, recreational facilities not to exceed 50% of the cost of such reconstruction which reconstruction is performed by the Borough. Reconstruction is defined as a project having a cost of greater than 50% of the cost of the project if new construction.
d. the restoration of open space for conservation, parkland, recreational facilities from natural disasters not to exceed 50% of the cost of such restoration which restoration is performed by the Borough.
e. The preparation of plans or studies related to open space for conservation, parkland, and recreational facilities not to exceed 50% of the cost of such plan or study which plans or studies are commissioned by the Borough.

Interpretive Statement
This binding referendum will authorize the expansion of the existing Open Space, Park Land and Recreational Facilities Preservation and Acquisition Trust Fund for additional purposes. The Open Space, Park Land and Recreational Facilities Preservation and Acquisition Trust Fund was previously approved by the voters of the Borough of Pompton Lakes on November 6, 2001, and therefore the approval of this referendum would not create a new tax burden on the residents of Pompton Lakes, but simply continue the previously approved Open Space, Park Land and Recreational Facilities Preservation and Acquisition Trust Fund. The trust fund will continue to be funded by the existing local property tax in the amount of one-cent ($0.01) per one hundred ($100.00) dollars of assessed valuation. If passed, the proceeds of the fund could be used for the acquisition, improvement, reconstruction, restoration or study and planning of open space for conservation, parkland, and recreational facilities. If the referendum fails to pass, the Open Space, Park Land and Recreational Facilities Preservation and Acquisition Trust Fund will continue under its current provisions.  

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