HOUSE DOCKET, NO. 2458 FILED ON: 1/17/2013 HOUSE . . . . . . . . . . . . . . . No. 1829 The Commonwealth of Massachusetts _________________ PRESENTED BY: Viriato Manuel deMacedo _______________ To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled: The undersigned legislators and/or citizens respectfully petition for the passage of the accompanying: An Act relative to the establishment of a county stabilization fund. _______________ PETITION OF: Name: | District/Address: | Viriato Manuel deMacedo | 1st Plymouth | Josh S. Cutler | 6th Plymouth | Michael D. Brady | 9th Plymouth | Thomas J. Calter | 12th Plymouth | Christine E. Canavan | 10th Plymouth | James M. Cantwell | 4th Plymouth | Angelo L. D'Emilia | 8th Plymouth | Susan Williams Gifford | 2nd Plymouth | Keiko M. Orrall | 12th Bristol | Randy Hunt | 5th Barnstable | Geoff Diehl | 7th Plymouth | Garrett J. Bradley | 3rd Plymouth |
HOUSE DOCKET, NO. 2458 FILED ON: 1/17/2013 HOUSE . . . . . . . . . . . . . . . No. 1829 By Mr. deMacedo of Plymouth, a petition (accompanied by bill, House, No. 1829) of Viriato Manuel deMacedo and others relative to the establishment of county stabilization funds. Municipalities and Regional Government. |
The Commonwealth of Massachusetts
An Act relative to the establishment of a county stabilization fund.
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
SECTION 1. Chapter 35, Section 28B of the General Laws is hereby amended by inserting after section (i) the following section:-
(j) For the purpose of creating and maintaining a County Stabilization Fund the advisory board may appropriate in any year any amount as may be approved by a two-thirds vote. Any interest shall be added to and become part of the fund.
The Treasurer shall be custodian of said fund and may deposit the proceeds in national banks or invest the proceeds by deposit in savings banks, cooperative banks or in participation units in a combined investment fund under section thirty-eight A of chapter twenty-nine, or invest the same in such securities as are legal for the investment of funds of savings banks under the provisions of chapter one hundred and sixty-eight or in federal savings and loans situated in the commonwealth.
The County Stabilization Fund may be appropriated by the county commissioners with the approval of a two-thirds vote of the advisory board for any purpose.
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