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GREEN ACRES,
FARMLAND, BLUE ACRES, AND HISTORIC PRESERVATION BOND ACT OF 2007
Shall the “Green Acres, Farmland,
Blue Acres, and Historic Preservation Bond Act of 2007,” which authorizes the State to issue bonds
in the amount of $200 million to provide moneys for (1) the acquisition and development of lands
for recreation and conservation purposes, (2) the preservation of
farmland for agricultural
or horticultural use and production, (3) the acquisition, for recreation and conservation
purposes, of properties in the floodways
of the Delaware River, Passaic
River, and
Raritan River, and their tributaries, that are prone to or have incurred flood or storm
damage, and (4) funding historic preservation projects; and providing the
ways and means to pay the interest on the
debt and also to pay and discharge the principal thereof, be approved? |
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Approval of this act would
authorize $200 million in funding for Green Acres, farmland, Blue Acres, and historic preservation projects through the sale of State general
obligation bonds. The Green Acres
program preserves open space, including parks, fish and wildlife habitat,
flood prone or affected areas, and lands that protect water supplies. It also funds park
improvements and
facilities. Of the total sum authorized: (1) $109 million will be used for
Green Acres; (2) $73 million will be used for farmland preservation purposes; (3) $12 million
will be used to fund a new “Blue Acres” program by which the State may purchase from willing sellers, for open
space preservation purposes, properties
in the Delaware River, Passaic River, and Raritan River
basin floodways that are prone to or have incurred flood or storm
damage; and (4) $6 million will be used for historic preservation purposes.
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