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(a) There is hereby created a special fund, to be known as the Conservation Trust Fund within the meaning of state law.

(b) There shall be transferred into this fund, as of the effective date of this Article, all amounts then on hand received and collected in the Conservation Trust Fund, and all moneys later received or deposited for such purposes.

(c) All funds hereafter received by the Town from the State pursuant to Section 29-21-101, C.R.S., shall be credited to the Conservation Trust Fund, established by this Section. All moneys taken from said Conservation Trust Fund shall be expended only for the purpose sought to be accomplished by state law, including the acquisition of new conservation sites, as that phrase is defined in Section 29-21-101, C.R.S.

(d) Such funds shall be expended for the payment of such expenditures for purposes which are authorized pursuant to this Section and the laws of the State, and as authorized by the Board of Trustees.

(e) Nothing in this Section shall prevent the Board of Trustees from appropriating revenues of the Town, other than moneys received from the State pursuant to state law, to the Conservation Trust Fund; however, any moneys appropriated to the Conservation Trust Fund from such other sources also shall be expended in the manner provided by Subsection (d) above. (Ord. 348 § 1, 1992)