Session Laws

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. Notwithstanding the provisions of section fifty-three of chapter forty-four of the General Laws or any other law to the contrary, the town of Mansfield is hereby authorized to establish in its treasury a special account which shall be known as the Mansfield Wastewater Treatment Plant Capital Depreciation Account. Said town may appropriate such funds each year by vote of the town meeting as it shall deem appropriate and such funds shall be kept separate from other monies. The town treasurer of said town shall be the custodian of the fund and may deposit the proceeds in national banks or invest the proceeds by deposit in savings banks, cooperative banks or trust companies organized under the laws of the commonwealth, or invest the same in such securities as are legal for the investment of funds of savings banks under the laws of the commonwealth or in federal savings and loan associations situated in the commonwealth. Any interest earned shall be added to and become part of the fund. Such funds and interest thereon shall be expended only for capital improvements and expansion of the wastewater treatment plant and sludge composting facility and only by a majority vote at a town meeting.

SECTION 2. This act shall take effect upon its passage.