§ 64-g. Town of Warwick preservation funds. 1. As used in this\nsection, the following words and terms shall have the following\nmeanings:\n (a) "Town" means the town of Warwick.\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 of Warwick is authorized to establish by\nlocal law a community preservation fund pursuant to the provisions of\nthis section. Deposits into the fund may include revenues of the local\ngovernment from whatever source and shall include, at a minimum, all\nrevenues from a tax imposed upon the transfer of real property interests\nin such town pursuant to article thirty-one-F of the tax law. The fund\nshall also be authorized to accept gifts of any such interests in land\nor of funds. Interest accrued by monies deposited into the fund shall be\ncredited to the fund. In no event shall monies deposited in the fund be\ntransferred to any other account. Nothing contained in this section\nshall be construed to prevent the financing in whole or in part,\npursuant to the local finance law, of any acquisition authorized\npursuant to this section. Monies from the fund may be utilized to repay\nany indebtedness or obligations incurred pursuant to the local finance\nlaw consistent with effectuating the purposes of this section. The town\nof Warwick may only adopt the local law authorized by this subdivision\nif it has incurred or authorized bonded indebtedness since nineteen\nhundred eighty for open space purposes equal to or greater than two\nhundred dollars per town resident. The number of residents shall be\ndetermined by the 2000 U.S. Census. Said local law shall make a finding\nthat the town has complied with the per resident financial commitment\nrequirement of this subdivision.\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, and (d) to provide a management and stewardship program for\nsuch interests and rights consistent with subdivision nine of this\nsection and in accordance with such plan designed to preserve community\ncharacter. Not more than ten percent of the fund shall be utilized for\nthe management and stewardship program. If the implementation of the\ncommunity preservation project plan, adopted by the town board, as\nprovided in subdivision six of this section, has been completed, and\nfunds are no longer needed for the purposes outlined in this\nsubdivision, then any remaining monies in the fund shall be applied to\nreduce any bonded indebtedness or obligations incurred to effectuate the\npurposes of this section.\n 4. Preservation of community character shall involve one or more of\nthe following: (a) establishment of parks, nature preserves, or\nrecreation areas; (b) preservation of open space, including agricultural\nlands; (c) preservation of lands of exceptional scenic value; (d)\npreservation of aquifer recharge areas; (e) preservation of undeveloped\nbeachlands or shoreline; (f) establishment of wildlife refuges for the\npurpose of maintaining native animal species diversity, including the\nprotection of habitat essential to the recovery of rare, threatened or\nendangered species; (g) preservation of unique or threatened ecological\nareas; (h) preservation of rivers and river areas in a natural,\nfree-flowing condition; (i) preservation
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