SECTION 1.  Notwithstanding section 53 of chapter 44 of the General Laws or any other general or special law to the contrary, there shall be a special fund in the Town of Dennis to be known as the Waterways Capital Improvement Fund. 50% percent of the fees collected for boat storage shall be deposited into the fund, without further appropriation. Appropriations from the fund shall be made by the Town of Dennis for improvements to the waterways groundwork provided, however, that the General Court may make clerical or editorial changes of form only to said bill, unless the Board of Selectmen approves amendments thereto prior to enactment by the General Court, and provided further that the Board of Selectmen is hereby authorized to approve amendments which shall be within the scope of the general public objectives of this petition.

SECTION 2.  50% of fees collected from the boat storage fee revenue shall be deposited into the Waterways Capital Improvement Fund .Thereafter, the Board of Selectmen of the Town of Dennis may, if authorized by by-law, decrease the portion deposited into the fund.

SECTION 3.  The Waterways Capital Improvement Fund shall be maintained by the town treasurer as a separate account, subject to any applicable provisions of chapter 44 of the General Laws and any interest earned thereon shall be credited to or become part of the separate account.

SECTION 4.  This act shall take effect upon its passage.