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. Chapter 277 of the acts of 1945 is hereby amended by inserting after section 6 the following two sections:-

Section 6A. Notwithstanding the provisions of section five B of chapter forty of the General Laws, for the purpose of creating a stabilization fund, the district may appropriate in any year an amount not exceeding five percent of the receipts from taxes, rates and services of the preceding fiscal year.

Section 6B. Notwithstanding the provisions of section five D of chapter forty of the General Laws, in order to offset the anticipated costs of funding its contributory retirement system the district may appropriate in any year an amount not exceeding ten percent of the receipts from taxes, rates and services of the preceding fiscal year.

SECTION 2. This act shall take effect upon its acceptance by the district.