Be it enacted by the Senate and House of Representatives
in General Court assembled, and by the authority of the same,
SECTION 1. Notwithstanding the provisions of any general or special law, rule or regulation to the contrary, the town of Braintree is hereby authorized to establish a special account to be known as the "Town of Braintree Water and Sewerage Rehabilitation Fund", the purpose of such fund is to provide revenue for the funding of engineering, testing, construction and rehabilitation of the water and sewage pipes, lines, facilities and systems located within the town of Braintree and to provide revenues to do all things necessary to correct, remedy, repair, prevent and prohibit any and all forms of infiltration or inflow from ground water and other sources of water into pipes, lines, facilities and systems. Such special account shall be maintained by the town treasurer of the town of Braintree in a banking institution doing business in the commonwealth, and expenditures from said special account shall be made subject to an appropriation initiated and approved by majority vote of the town meeting of the town of Braintree.
SECTION 2. Fees paid to such special account shall be made by applicants for building permits for the construction, erection, improvement, reuse or rehabilitation of land or buildings thereon for industrial, commercial, multi-family and residential uses. The method and amount of such fees from such private sources shall be as determined by by-law, but not to exceed one percent of estimated construction cost. Said by-law shall provide for the method of determining the amount of each contribution from such applicants based on their anticipated water and sewer use by each and for the particular kind of development contemplated.
SECTION 3. The treasurer of the town of Braintree is hereby authorized to invest monies in said special account and the interest accruing shall inure to the benefit of said special account. Said special account shall be maintained in accordance with generally accepted principles and shall be audited annually with the cost of such audit charged to said special account.
SECTION 4. The board of water and sewer commissioners of the town of Braintree may make applications for available state and federal government grants for construction, improvements, engineering, rehabilitation and repair of the sewage pipes, lines, facilities and systems and to pledge any and all such sums of money in said special account with approval of town meeting for any such matching grants for the construction, improvements, repair and rehabilitation of said sewage pipes, lines, facilities and systems.
SECTION 5. This act shall take effect upon its acceptance by the town of Braintree.