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 any general or special law to the contrary, the city of Quincy may establish and maintain in the city treasury a special fund to be known as the Public Works Enhancement Fund, into which shall be deposited 50 per cent of the revenues received by the city of Quincy from a lease with Quarry Hills Associates, Inc., as authorized by chapter 50 of the acts of 1994. The treasurer of the city of Quincy shall maintain the fund as a separate account. Any interest earned on any fund balance shall be credited to and become a part of the fund. The commissioner of public works under the direction of the mayor shall use the funds for the sole purpose of designing, repairing, maintaining and reconstructing the streets and sidewalks of the city of Quincy and for the acquisition of any capital equipment necessary to accomplish that purpose. Use of the funds shall be subject to the following:-

(a) On or before March 1 of each year, the mayor shall submit to the city council for its review a report of any and all design work, repairs, maintenance, reconstruction and other street and sidewalk work performed with funds from the Public Works Enhancement Fund for the proceeding calendar year, and shall submit an updated pavement management plan for the present calendar year construction season. Any expenditure from the Public Works Enhancement Fund shall be in accordance with the pavement management plan.

(b) On or before March 1 of each year, the mayor shall submit to the city council for its review a report of any kind and all capital equipment expenditures from the Public Works Enhancement Fund for the preceding calendar year, and shall submit a report of anticipated expenditures for the present calendar year. Notwithstanding the preceding sentence, any and all expenditures for the purchase of capital equipment in accordance with this act shall be subject to appropriation by the mayor and a vote of the city council.

SECTION 2. Notwithstanding any general or special law to the contrary, the city of Quincy may establish and maintain in the city treasury a special fund to be known as the Quarry Hills Oversight Fund, into which shall be deposited 10 per cent of the revenues by the city of Quincy from a lease with Quarry Hills Associates, Inc., as authorized by chapter 50 of the acts of 1994. The fund shall be maintained by the treasurer of the city of Quincy as a separate account. Any interest earned on any fund balance shall be credited to and become a part of the fund. The mayor shall use the funds, without further appropriation, for the sole purpose of overseeing the operation of the Quarry Hills Recreational Complex as authorized by the lease described in said chapter 50.

In furtherance of this section, the city of Quincy may enter contracts with accountants, auditors, attorneys, engineers, environmental consultants and other professionals to insure compliance with applicable obligations of Quarry Hills Associates, Inc. under the lease and other permit or regulatory obligations.

The city of Quincy may make supplemental appropriations to this fund in furtherance of the objectives of the act.

The auditor of the city of Quincy shall forward to the mayor and the city council a report of the fund including the receipts and disbursements within 90 days after the end of each fiscal year.

SECTION 3. This act shall take effect upon its passage.