Shall the Town of Hampton vote to create a Recycling Revolving Fund in accordance with the provisions of RSA 31:95-h,I,(a) and RSA 149-M:4, XIX and XX, into which shall be deposited all funds received as income, fees and charges from the receipt or sale of recyclable materials and recycling, including, but not limited to a) materials that can be used to produce marketable goods, including but not limited to clear and colored glass, aluminum, ferrous and nonferrous metals, plastics, corrugated cardboard, vehicle batteries, tires from vehicles, paper, demolition materials, yard and earth materials, and any other materials that are collected, deposited with, charged for, reprocessed and recycled for a further or new use by the Town of Hampton or by others. Funds derived from such recycled materials shall be deposited into the Recycling Revolving Fund. The money in the fund shall be allowed to accumulate from year to year, and shall not be considered part of the town’s general surplus. The Town Treasurer shall have custody of all moneys in the fund, and shall pay out the same only upon the order of the Board of Selectmen or the Town Manager without further approval of the legislative body (Town Meeting). Such funds may be expended only for the purposes for which the fund was created which is for the receipt, processing of recyclable materials, their collection, separation, storage, loading for shipment, the shipment of such materials, the purchase, replacement and repair of recycling equipment, vehicles, and carts, and the collection, storage, loading, and transportation expense and the cost of recycling personnel, contractors services directly related to those function and, to establish funding for this account to raise and appropriate the sum of $80,000 to be placed in such account with said sum of $80,000 to come from the Unassigned Fund Balance? (Majority vote required)
What it means: The $80,000 is seed money to establish the fund. Future contributions will come from revenues gained from the sale of recyclable material, and the fund will be used to pay for future expenses and purchases related to recycling.
Those in favor say: This was a suggestion of the Recycling Committee, and is a good idea because we will face large yet currently unknown impacts to how we process recycling material in the future. This fund will provide a source of revenue for dealing with those changes as they occur.
Those against say: Those who spoke against this at Deliberative Session objected to the use of the Unassigned Fund Balance, which might otherwise have been used to reduce taxes.
Fiscal impact: There is no tax impact because the money to be used to set up the account was appropriated in prior tax years.