|
Ordinance 22
TOWN OF HANOVER
ORDINANCE OF THE BOARD OF SELECTMEN
The Board of Selectmen of Hanover, New Hampshire, ordain as follows:
LAND USE CHANGE TAX ALLOCATION
1. Declaration of Purpose: The Town continues to receive each year a substantial sum of money from the payment of the Land Use Change Tax as land is taken out of current use. A Capital Improvement Trust Fund has been established by Town Meeting action for the purpose of providing funds to pay for all or part of capital improvements including land acquisition required to meet needs arising from growth and development. The purpose of this Ordinance is to require the Board of Selectmen to budget part of all funds received from the Land Use Change Tax to be paid into the Capital Improvement Trust Fund in order to provide, over the long term, for a reserve of money to meet needs arising from growth. In addition, any donations given for the specific purposes of the Capital Improvement Trust Fund would be added to the Fund.
2. Title: This Ordinance shall be known and may be cited as the "Land Use Change Tax Allocation Ordinance of the Town of Hanover."
3. Authority: RSA 79-A:25-b.
4. Allocation of Excess Funds from Land Use Change Tax: Each year, the Board of Selectmen shall budget a certain sum of money to be derived from revenue from the payment of the Land Use Change Tax for the purpose of meeting expenses of the Town in the current fiscal year. The Selectmen shall in their budget allocate all funds in excess of the fixed amount to be spent in the current fiscal year, to be appropriated and paid into the Capital Improvement Trust Fund. Funds shall not be withdrawn from the Capital Improvement Trust Fund except in accordance with the terms and conditions establishing said Trust Fund as voted by the Hanover Town Meeting.
5. Selectmen's Policy as to Private Donations: In addition, it shall be the policy of the Board of Selectmen to place in the Capital Improvement Trust Fund any private donations received by the Town conditioned on purposes similar to the purposes of the Capital Improvement Trust Fund.
Adopted June 5, 1989
EFFECTIVE DATE OF REPEAL
Having held a public hearing, the Board of Selectmen voted to repeal this Ordinance on the _9th_ day of _October_, 2000, which shall be the effective date hereof.
IN WITNESS WHEREOF, a majority of the Board of Selectmen have hereunder set their hands.
TOWN OF HANOVER
___________________________
___________________________
___________________________
___________________________
___________________________
ORDINANCE #22
LAND USE CHANGE TAX ALLOCATION
Date of Notice as to Posting and Publication:__10/10/00 10/18/00___
Date of Public Hearing:____10/9/00 ___________________________
Date of Repeal: ________10/9/00 ___________________________
Date of Notice of Repeal and Effective Date: __10/10/00 10/9/00__
Date of Recording in the Town Records: ________________________________
_______________________________
Date of Approval by Town Legal Counsel as to Form and Authority: __ _
|