ARTICLE VIII. - EXETER RURAL LAND PRESERVATION TRUST

Sec. 2-277. - Statutory authority name and purpose.#

Pursuant to the authority contained in Chapter 75 of the 1997 R.I. Public Laws and Section 709 of the Town Charter there is hereby established an Exeter Rural Land Preservation Trust (hereinafter called "trust") for purposes including acquiring, holding, and maintaining interests in property for the preservation of open space, the protection of natural resources, the maintenance of the rural character of the town, the preservation of land and interests therein for public recreation, and for any other use or purpose similarly consistent with or contemplated by state law or Town Charter.

(Ord. of 1-3-17)

Sec. 2-278. - Membership.#

(a)

The trust shall be administered by five trustees who shall be appointed by the town council. The trustees first appointed shall serve the following terms: one one-year term, two two-year terms, and two three-year terms; said terms to expire March 31 st annually. Thereafter, each trustee shall be appointed for a term of four years, except that all vacancies occurring during a term shall be filled for the unexpired term. Trustees shall be residents of Exeter, qualified voters, and shall hold office until their successors have been appointed. No trustee may be an elected town officer or a paid employee of the town.

(b)

The trustees shall serve without compensation.

(Ord. of 1-3-17)

Sec. 2-279. - Organization.#

(a)

In April of each year, the trustees shall elect a chair, vice-chair, and clerk from among the trustees. Officers shall serve a term of one year. Promptly upon annual organization, the trustees shall file a list of the officers for the ensuing year with the town clerk.

(b)

The trust shall be given an amount of funds to be used to establish the trust. This amount shall be determined by the town council and approved at a financial town meeting.

(Ord. of 1-3-17)

Sec. 2-280. - Administration.#

(a)

The trustees may adopt reasonable rules and regulations governing the conduct of the trust affairs, including the acquisition and management of its holdings, not inconsistent with the provisions of Chapter 75 of the 1997 R.I. Public Laws and Section 709 of the Charter. Decisions of the Trustees shall be by majority vote of those present and voting, and no business shall be transacted without a quorum of three members present. The trustees shall keep accurate records of their meetings and actions and shall file copies of their minutes with the town clerk. All meetings and records of the trustees shall be subject to the provisions of Title 42, Chapter 46, of the General Laws, the Open Meetings Law, as amended.

(b)

A quorum of a minimum of three members is needed for any action or meeting.

(c)

A minimum of three affirmative votes of the trustees shall be required for the use of any power granted pursuant to section 2-281.

(Ord. of 1-3-17)

Sec. 2-281. - Powers of the trust.#

The trust shall have the power to: (1)

Purchase, receive by gift or otherwise acquire fee simple or any lesser interest in real property, including development rights as defined in R.I. General Laws Sec. 42-12-2, or any interest in real property consistent with the purposes of Chapter 75 of the 1997 R.I. Public Laws, provided that the Town Council approves such purchase or acquisition in advance with a minimum of three affirmative council votes and provided that any acquisition, if other than by gift or devise, shall then also be authorized by a two-thirds vote of voters convened at a special financial town meeting in which 56 or more registered Exeter voters are in attendance;

(2)

Accept gifts, grants, funds, or services from any source, public or private, and comply, subject to the provisions of Chapter 75 of the 1997 R.I. Public Laws, with any terms and conditions, provided said terms and conditions do not obligate the town in manner financially;

(3)

Accept from state or federal agencies grants for use in carrying out the trust's purposes, and enter into agreements with such agencies respecting any such grants;

(4)

Employ counsel, auditors, engineers, appraisers, private consultants, advisers, secretaries, or other personnel needed to perform its duties, provided that the town council approves in advance the employment or engagement of any such person to be paid with funds held by the trust;

(5)

Administer land and manage land and interests in land held by it in a manner consistent with the natural and scenic resources thereof including conveyance of any such land or interest in land to, and contracts with nonprofit organizations provided such land shall continue to be used in a manner consistent with the purposes of Chapter 75 of the 1997 R.I. Public Laws and with the terms of any grant or devise by which such land was acquired by the trust;

(6)

Dispose of all or any portion of its real property or interests therein held by it, whenever in the opinion of the trustees said lands or properties have become unsuitable or have ceased to be used for the purposes set forth in Chapter 75 of the 1997 R.I. Public Laws. Such dispositions shall be made only by a vote of the trustees in which at least three members vote in favor of such a disposition, and further only after having approved by the town council and by a two-thirds vote of an annual or special financial town meeting of the Town of Exeter. Nothing in this subsection shall be construed to authorize the sale, lease, or conveyance of lands or improvements held by the trust as part of charitable trust or acquired by gift or devise for public use, whether or not such gift or devise is subject to a condition subsequent or reverter. No real property such disposed shall may be purchased, received by gift, or otherwise acquired fee simple or any lesser interest by any current trustee or prior serving trustee within the previous 24 months;

(7)

Dissolve the trust which shall result only after a vote of the trustees in which at least three members vote to recommend dissolution of the Trust to the Exeter Town Council. The town council shall hold a public hearing on any such recommendation to dissolve. At the conclusion of the hearing, the town council shall vote on the matter within 45 days of said hearing. Upon termination or dissolution of the trust, the titles to all funds and other properties owned by the trust shall vest in the Town of Exeter which shall manage the lands of the dissolved trust in keeping with the purposes for which the land, or interests, were purchased or donated;

(8)

Otherwise do all things necessary for the performance of its duties, the fulfillment of its obligations, and conduct of its business.

(Ord. of 1-3-17)

Sec. 2-282. - Accounting procedures.#

(a)

There shall be established by the town treasurer a restricted fund to be designated as the rural land preservation trust fund into which all revenue, receipts, donations, gifts, fees, grants, proceeds from the disposal of real property or interests, any funds received from any source for the intended purpose of supporting the trust, and/ or funds appropriated to the trust at a financial town meeting will be deposited.

(b)

All expenses lawfully incurred by the trust shall be evidenced by vouchers and shall be paid by the town treasurer only upon submission by warrants duly approved by the trust.

(c)

The town treasurer shall prudently invest available assets of the fund in accordance with the town's investment policies, and all income thereon shall accrue to the fund.

(d)

The trustees shall also prepare an annual fiduciary report of the trust holdings for the last preceding fiscal year showing the assets so held and administered, the receipts and expenditures in connection therewith, the addresses of properties owned, and such other information as the town council may require. The town council shall review and approve such annual reports. The cost of preparing the annual fiduciary report shall be from the rural land preservation trust fund.

(Ord. of 1-3-17)

Sec. 2-283. - Tax status of trust.#

The trust and all its revenue, income, and real and personal property used by the trust for the furtherance of its public purpose shall be exempt from taxation and from betterment and special assessments, and the trust shall not be required to pay any tax, excise, or assessment to the state or any of its political subdivisions.

(Ord. of 1-3-17)