SECTION 1. Notwithstanding section 5 of chapter 311 of the acts of 1998, or any other general or special law, all property and funds held by the Housing Development Corporation of the town of Wellesley established under said act of 1998 are hereby transferred to the Municipal Affordable Housing Trust Fund of the town of Wellesley established pursuant to section 55C of chapter 44 of the General Laws and shall be managed, disposed of or expended in accordance with said section 55C of said chapter 44 and any applicable by-law of the town of Wellesley.
SECTION 2. Chapter 311 of the acts of 1998 is hereby repealed.
SECTION 3. This act shall take effect upon the posting or publication by the town clerk in accordance with section 32 of chapter 40 of the General Laws of an amendment to the general by-laws of the town of Wellesley establishing an affordable housing trust in the town pursuant to said section 55C of said chapter 44.
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