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 53 of chapter 44 of the General Laws or any other general or special law to the contrary, the town of Falmouth is hereby authorized to establish a fund, which shall be kept separate and apart from all other monies of said town by the town treasurer and in which shall be deposited all road and sidewalk betterment payments received by said town. Said town treasurer may invest such funds in the manner prescribed in sections 54 and 55 of said chapter 44. Any interest earned thereon shall be credited to and become part of said fund. The principal and income therefrom shall be available for expenditure by the board of selectmen without further appropriation for the acceptance and improvement of private ways and the improvements shall be done in accordance with the provisions of chapter 80 of the General Laws.
SECTION 2. This act shall take effect upon its passage.