SECTION 1. Notwithstanding the provisions of Section 53 of Chapter 44 of the General Laws or any other general or special law to the contrary, the town of Athol is authorized to create a special fund for the deposit of any proceeds to the town of Athol from funds recaptured through receivership or rehabilitation liens, and state or federal grants or local appropriations for such purpose, subsequent to February 1, 2015.  Interest earned on this fund shall be treated as general fund revenue of the town.  Any balance remaining at the end of a fiscal year shall carry over to the next fiscal year and thereafter if not then expended for the purposes set out herein.

Proceeds from the special fund shall be used at the determination of the Town Manager, in consultation with the Athol Vacant and Abandoned Building Committee or its successor, without further appropriation, to secure, clear, rehabilitate, make loans for purchase and rehabilitation, make safe or demolish, together with any associated costs, for properties designated as receivership properties by the Town and/or a court of competent jurisdiction.

Expenditures shall not be made, nor liabilities incurred, in excess of the balance of the fund.

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