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 section 53 of chapter 44 of the General Laws or any other general or special law to the contrary, the town of Hinsdale may establish a separate fund to be known as the Sewer Betterment Reserve Fund. The town treasurer shall keep the Fund separate and apart from all other monies of the town and shall deposit in it all sewer betterment payments received by the town. The town treasurer may invest such funds in the manner authorized by sections 54 and 55 of said chapter 44. The principal and interest thereon shall be reserved for appropriation for the payment of the town's sewer betterment debt.

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