ARTICLE 46:  Establish a Beach Capital Improvement Fund

To see if the Town will establish Chapter 82 of the Town’s General Bylaws, a Beach Capital Improvement Fund, as follows, or take any other action relative thereto:

Chapter 82.  AN ACT AUTHORIZING THE TOWN OF YARMOUTH TO ESTABLISH A BEACH CAPITAL IMPROVEMENTS FUND

                               Be it enacted, etc., as follows:

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 Yarmouth to be known as the Beach Capital Improvement Fund.  There shall be deposited into the fund, without further appropriation, a portion of fees collected from the sale of beach daily parking stickers. Appropriations from the fund in excess of $20,000 shall be made by Town Meeting with the recommendation of the Recreation Commission of the Town of Yarmouth for beach-related capital improvements.  Appropriations from the fund up to $20,000 shall be made by the Board of Selectmen or their designee for beach-related capital improvements.

SECTION 2.  Twenty percent of the fee collected from the sale of a beach daily parking sticker shall be deposited in the Beach Capital Improvement Fund.  Thereafter, the Board of Selectmen of the Town of Yarmouth may, increase or decrease the portion of the beach parking sticker fee that shall be deposited into the fund, provided that such portion shall not exceed 50% of the beach parking sticker fee.

SECTION 3.  The Beach 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 and become part of the separate account.

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