SECTION 1. Notwithstanding any general or special law to the contrary, the town of Millville may establish a special reserve fund which shall be kept separate and apart from all other monies held by the town treasurer, into which the town may appropriate in any year money to establish a fund for the purpose of paying accumulated, unused sick leave to town employees in accordance with a collective bargaining agreement or employment contract.
SECTION 2. The town treasurer shall be the custodian of the special reserve fund, which may be deposited or invested in any legal manner applicable to the town, and shall make an accounting thereof to each annual town meeting. Income derived from the investment or reinvestment of said fund shall remain with and become part of said fund.
SECTION 3. This act shall take effect upon passage.
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