§ 64-f. Town of Brookhaven community preservation fund. 1. As used in\nthis section, the following words and terms shall have the following\nmeanings:\n (a) "Town" means the town of Brookhaven in the county of Suffolk.\n (b) "Community preservation" shall mean and include any of the\npurposes outlined in subdivision four of this section.\n (c) "Board" means the advisory board required pursuant to subdivision\nfive of this section.\n (d) "Fund" means the community preservation fund created pursuant to\nsubdivision two of this section.\n 2. The town board of the town is authorized to establish by local law\na community preservation fund pursuant to the provisions of this\nsection. Deposits into the fund may include revenues of the town from\nwhatever source and shall include, at a minimum, all revenues from a tax\nimposed upon the transfer of real property interests in such town\npursuant to article thirty-one-B of the tax law. The fund shall also be\nauthorized to accept gifts of any such interests in land or of funds.\nInterest accrued by monies deposited into the fund shall be credited to\nthe fund. In no event shall monies deposited in the fund be transferred\nto any other account. Nothing contained in this section shall be\nconstrued to prevent the financing in whole or in part, pursuant to the\nlocal finance law, of any acquisition authorized pursuant to this\nsection. Monies from the fund may be utilized to repay any indebtedness\nor obligations incurred pursuant to the local finance law consistent\nwith effectuating the purposes of this section. The town shall only\nadopt the local law authorized by this subdivision if it has incurred or\nauthorized bonded indebtedness since nineteen hundred eighty for open\nspace purposes equal to or greater than two hundred dollars per town\nresident, and shall also include in such calculation of its incurred or\nauthorized bonded indebtedness, the incurred or authorized bonded\nindebtedness dedicated for open space purposes of the county of Suffolk\nwithin the town. The number of residents shall be determined by the 1990\nU.S. Census. Said local law shall make a finding that the town has\ncomplied with the per resident financial commitment requirement of this\nsubdivision.\n 3. The purposes of the fund shall be exclusively, (a) to implement a\nplan for the preservation of community character as required by this\nsection, (b) to acquire interests or rights in real property for the\npreservation of community character within the town including villages\ntherein in accordance with such plan and in cooperation with willing\nsellers, (c) to establish a bank pursuant to a transfer of development\nrights program consistent with section two hundred sixty-one-a of this\nchapter, (d) to provide a management and stewardship program for such\ninterests and rights consistent with subdivision nine of this section\nand in accordance with such plan designed to preserve community\ncharacter; provided that not more than ten percent of the fund shall be\nutilized for the management and stewardship program, and (e) to make\npayments to school, fire, fire protection and ambulance districts in\nconnection with lands owned by the state or any municipal corporation\nwithin the central pine barrens area as defined in subdivision ten of\nsection 57-0107 of the environmental conservation law. Such payments may\nonly be made to districts where more than twenty-five percent of the\nassessed value of such district is wholly exempt from real property\ntaxation pursuant to the real property tax law because it is owned by\nthe state or a municipal corporation. Not more than ten percent of the\nfund may be used for said purpose in any calendar year. Such payments\nfrom the fund shall not exceed the actual tax liability that would have\nbeen due if such lands of the state or of a municipal corporation had\nbeen subject to real property taxation. Where more than one district is\neligible for such a payment under
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