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Community Preservation Fund <br /> Revenues and Expenditures <br /> (See Chart 1 for allowable spending purposes) <br /> • Special revenue fund. <br /> • Annual recurring fund revenues. <br /> • Local property tax surcharges. <br /> • State trust fund distributions. <br /> • Non-recurring revenues. <br /> • Public/private gifts or grants to the fund. <br /> • Proceeds from bonds and notes. <br /> • Proceeds of sale of property acquired with fund monies. <br /> • Damages and penalties from person injuring property acquired with fund <br /> monies. <br /> • Invested like trust funds and interest earned remains with fund (not allocated to <br /> special purpose reserves created within the fund by legislative body). <br /> • Appropriations for community preservation purposes require both <br /> recommendations of Community Preservation Committee and vote by legislative <br /> body. <br /> • Appropriations from any fund financing source, except borrowing, by <br /> majority vote unless otherwise required by law. <br /> • May spend for specified community preservation purposes: <br /> • Acquire, create and preserve open space. <br /> • Acquire, preserve, rehabilitate and restore historic resources. <br /> • Acquire, create and preserve land for recreational use. <br /> • Acquire, create, preserve and support community housing, including <br /> provide funds for the community's affordable housing trust fund. <br /> 5 <br />