§ 20D-4. Establishment of Environmental Legacy Capital Fund.

A. 

Fund accounts. The Town Comptroller shall establish and maintain separately designated accounts pursuant to General Municipal Law § 6-c, to be known as the "environmental legacy fund accounts," and may establish one or several such accounts for the purposes set forth herein, as may be required by proper accounting procedures.

B. 

Scope of fund. These accounts shall be used to find the acquisition, protection, expansion and maintenance of ownership, rights and interests in real property in the town's remaining open space, natural areas, wetlands, trails, coastal areas, waterfronts and greenway corridors, and to fund the acquisition, protection and maintenance of ownership, rights and interests in real property, and for the restoration, protection, improvement and enhancement of environmentally sensitive areas, coastal areas and waterways. Said expenditures may be made directly from dedicated, general and special revenues, and need not be bonded, in the sole discretion of the Town Board.

C. 

Deposits. These accounts shall be the repository for all revenues specifically designated for expenditure by the town for the purposes set forth herein, including bond proceeds, dedicated fees, general or special municipal revenues and from such sources not derived from real property taxes as the Town Board may determine, in its sole discretion, where permitted by the laws of the State of New York, including but not limited to those set forth hereinbelow.

D. 

Additional deposits. The Town shall also pursue and attract, for deposit in and use in accordance with this fund, where permitted by the laws of the State of New York, additional funds, gifts and grants from foundations, private donations, any additional private or public sources and federal, state and county matching funds.

E. 

Prohibitions. Moneys from this fund shall not be used for any purposes which are not specifically set forth in this chapter.