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fund, and used only for the purposes hereinbefore provided. <br /> d. Wkwn so rewired in the opinion of the Towu 8n9ineer, a <br /> reasonable portion of each proposed subdivision shall be dedicated <br /> to the public for public use as store water holding areas or ponds, <br /> or, in the alternative, at the option of the Town, the subdivider <br /> shall contribute an equivalent amount of cash based on the fair <br /> ►earket value of the required undeveloped land. The property► shall <br /> be conveyed to the Town, or payment of the cash equivalent fare <br /> shall be made to the Town before approval of the Final plat. Cash <br /> payments received hereunder shall be placed in a special fund <br /> by the Town and used only for the acquisition of lauds for storm <br /> water holding areas or ponds and debt retirement in connection <br /> with land previously acquired for such publics purposes. <br /> i <br />