HOUSE DOCKET, NO. 246        FILED ON: 1/14/2021

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 3727

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Danillo A. Sena

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To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:

The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:

An Act authorizing the investment of town of Lunenburg library trust funds.

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PETITION OF:

 

Name:

District/Address:

Date Added:

Danillo A. Sena

37th Middlesex

1/14/2021

Michael P. Kushmerek

3rd Worcester

1/19/2021

John J. Cronin

Worcester and Middlesex

1/25/2021


HOUSE DOCKET, NO. 246        FILED ON: 1/14/2021

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 3727

By Mr. Sena of Acton, a petition (accompanied by bill, House, No. 3727) of Danillo A. Sena, Michael P. Kushmerek and John J. Cronin (by vote of the town) relative to authorizing the investment of town of Lunenburg library trust funds.  Municipalities and Regional Government.  [Local Approval Received.]

 

The Commonwealth of Massachusetts

 

_______________

In the One Hundred and Ninety-Second General Court
(2021-2022)

_______________

 

An Act authorizing the investment of town of Lunenburg library trust funds.

 

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

SECTION 1: Notwithstanding any general or special law to the contrary, the treasurer of the town of Lunenburg may invest library trust funds and any future bequests to the library in the custody of the treasurer in accordance with the prudent investor rule and sections 3,4,5,8, and 9 of chapter 203C of the General Laws. The treasurer, in consultation with the town’s library trust fund committee, shall develop investment policies which shall include an asset allocation policy and shall select professional investment advisors to manage such funds.

SECTION 2. Section 54 of Chapter 44 of the General Laws shall not apply to the town of Lunenburg library trust funds.

SECTION 3. This act shall take effect upon its passage.