Agreement for joint purchase (Repealed)

(a) The Commissioner and the municipality shall enter into an agreement with each other prior to the joint purchase of development rights, once the value of the development rights has been determined. Such agreements shall specify the following: (1) Maximum contribution for joint purchase of development rights to be made by the state, (2) Maximum contribution for joint purchase of development rights to be made by the municipality, (3) The commitment of the municipality to place its contribution to jointly purchase development rights in an escrow account until such time development rights are conveyed to the state and municipality or until such time it is determined that development rights cannot be conveyed from the applicant, (4) That the contribution from the state is dependent upon approval of the State Properties Review Board and the State Bond Commission, (5) That the state shall pay the reasonable closing and survey costs involved with the conveyance of development rights, (6) The representative of the municipality authorized to negotiate with the project applicant for purchase of development rights, (7) The owner of the subject property and closing date and acquisition price, (8) A procedure for the adjustment of price based on A-2 survey acreage adjustment, and (9) That the agreement shall be subject to the approval of the Office of the Attorney General. (b) Agreements are to be signed by the Commissioner and the municipality's chief elected officer, treasurer, and chairman of the municipal body or commission, if any, responsible for farmland preservation planning.