SECTION 1.  (a) Notwithstanding section 53 of chapter 44 of the General Laws or any other general or special law to the contrary, the town of Fairhaven may create a special fund for the deposit of any proceeds to the town of Fairhaven from funds paid, recovered by actions in contract, recaptured through liens, or received from government or private grants or local appropriations for the repair, demolition, or making safe of structures or premises which are dangerous, abandoned, unsafe or uninhabitable, or which constitute a nuisance or a fire hazard.  Interest earned on the fund shall be treated as general fund revenue of the town.  Any balance remaining in the fund at the end of a fiscal year shall carry over to the next fiscal year and subsequent fiscal years thereafter if not expended for the purposes set forth in this act and not otherwise appropriated by vote of the town meeting.

(b) Proceeds from the fund shall be used at the discretion of the town administrator, in consultation with the board of selectmen, the building commissioner, the board of health and the fire chief, without further appropriation, to secure, clear, make safe, repair or demolish structures or premises which are dangerous, abandoned, unsafe or uninhabitable, or which constitute a nuisance or a fire hazard.

Expenditures shall not be made and liabilities shall not be incurred in excess of the balance of the fund.

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