Section 1.

Notwithstanding section 53F½ of Chapter 44 of the General Laws or the provisions of any general law, special law or regulation to the contrary, in light of the surplus that exists in the Water Enterprise Fund of the City of Medford, the Mayor of the City of Medford, may, without further appropriation, transfer from the Water Enterprise Fund or any separate reserve fund containing a surplus produced from the Water Enterprise Fund, the amount of One Million Two hundred twenty four thousand dollars [$1,224,000.00].

Section 2

Notwithstanding G.L. c 44 § 33B of the General Laws or any other general or special law to the contrary, the City Council of the City of Medford may, by majority vote, on the recommendation of the Mayor, transfer within the last 2 months of any fiscal year, or during the first 15 days of the new fiscal year to apply to the previous fiscal year, an amount appropriated for the use of any department other than the school department to the appropriation of any other department. The purpose of this act is to relieve the City of Medford from the provision of G.L. c 44 § 33B that requires that an amount transferred from one department to another may not exceed, in the aggregate, 3 percent of the annual budget of the department from which the transfer is made.

Section 3

This act shall take effect upon its passage and shall be effective during the present fiscal year.