I. A town or city, having established a conservation commission as authorized by N.H. Rev. Stat. § 36-A:2, may appropriate money as deemed necessary for the purpose of this chapter. The whole or any part of money so appropriated in any year and any gifts of money received pursuant to N.H. Rev. Stat. § 36-A:4 may be placed in a conservation fund and allowed to accumulate from year to year. Money may be expended from said fund by the conservation commission for the purposes of this chapter without further approval of the town meeting.
II. The town treasurer, pursuant to N.H. Rev. Stat. § 41:29, shall have custody of all moneys in the conservation fund and shall pay out the same only upon order of the conservation commission. The disbursement of conservation funds shall be authorized by a majority of the conservation commission. Prior to the use of such funds for the purchase of any interest in real property or for a contribution to a qualified organization for the purchase of property interests under N.H. Rev. Stat. § 36-A:4-a, I(b), the conservation commission shall hold a public hearing with notice in accordance with N.H. Rev. Stat. § 675:7.
III. In the municipality that has adopted the provisions of N.H. Rev. Stat. § 79-A:25, II, the specified percentage of the revenues received pursuant to N.H. Rev. Stat. Chapter 79-A shall be placed in the conservation fund.