I. There is established an endowment fund, to be known as the Connecticut Lakes headwaters tract monitoring endowment, for the purpose of ensuring a perpetual source of funds to monitor compliance with the terms and conditions of the conservation easement interests acquired by the state in the Connecticut Lakes headwaters tract. The fund shall be administered jointly by the executive director of the fish and game department and the commissioner of the department of natural and cultural resources.
II. Funds added to the monitoring endowment pursuant to paragraph I shall be used to support monitoring by state agencies, local municipalities, and qualifying nonprofit corporations of conservation easement interests acquired in the Connecticut Lakes headwaters tract. Such monitoring shall be to ensure that the tract will be managed according to the legal agreements embodied within the conservation easement, which is recorded in its entirety in the Coos county registry of deeds.