(A) Pursuant to Public Act No. 89-370 § 5, being Conn. Gen. Stat. §§ 7-392 et seq., there is hereby established in the town a special fund, which shall be known as the Land Acquisition Fund. The Fund shall be used by the town exclusively for the acquisition of land to be used for open space, recreation. Upon recommendation of the Board of Selectmen and Board of Finance and approval of town meeting, any part of the whole of the Fund may be used for land acquisition.
(B) On an annual basis there shall be deposited into the Fund the amount as may be appropriated by the citizens of the town at the annual town budget meeting but in no event shall the amount of the appropriation exceed the amount which would be generated by the imposition of a tax of two mills against the property in the town subject to tax under Conn. Gen. Stat. §§ 12-40 et seq. In addition, cash contributions will be accepted and deposited into the Fund. The Fund shall not lapse at the close of the municipal fiscal year.
(Ord. passed 9-30-1991)