HOUSE DOCKET, NO. 5092        FILED ON: 6/24/2010

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 4851

The Commonwealth of Massachusetts

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In the Year Two Thousand Ten

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An Act Authorizing the City of North Adams to Use Reserve Funds to Reduce Debt..

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 63 of chapter 44 of the General Laws or any other general or special law to the contrary, the city of North Adams, in this act hereinafter called the City, during fiscal year 2011, following a majority vote of the city council and approval by the mayor, the proceeds of the sale or other disposal of real estate, including the taking by eminent domain by another governmental unit, but other than that acquired through tax title foreclosure, and/or proceeds currently in the City’s Land Sale Reserve Account, be applied to eliminate or reduce the budgeted debt of the City for fiscal year 2011.

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