(A) Available funding for the Township Preservation Program shall be deposited in a special Farmland Preservation Fund. Money in the Fund may be temporarily deposited with institutions or invested in obligations which are lawful for any other township deposit or investments. Revenue generated from such deposits and/or investments shall be used solely for the purposes of purchasing development rights/agricultural conservation easements, making payments under installment purchase contracts, promoting farmland preservation programs, paying costs of administering and enforcing the program or for any other purpose consistent with the intent of this chapter.
(B) In the event that funds become available from private sources or from state or federal agencies to pay a portion of the purchase price of development rights/agricultural conservation easements or to enlarge such purchases, the Agricultural Preservation Board is authorized by the Township Board to recommend specific uses of such funds consistent with the intent of this chapter.
(C) The Township Preservation Board, upon approval by the Township Board, may finance the Township Farmland Preservation Program through one or more of the following sources:
(1) General appropriations by the township;
(2) Proceeds from the sale of development rights by the township under § 154.09 of this chapter;
(3) Grants;
(4) Donations;
(5) General Fund revenue;
(6) Bonds or notes as permitted by law;
(7) Special assessments as permitted by law; and/or
(8) Other sources approved by the Township Board and permitted by law.
(Prior Code, Ch. XXXI, § 12) (Ord. passed 8-16-2004)