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HOUSE DOCKET, NO. 948         FILED ON: 1/19/2011

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 556

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Matthew A. Beaton

_______________

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 town of Shrewsbury to establish a special fund
.

_______________

PETITION OF:

 

Name:

District/Address:

Matthew A. Beaton

11th Worcester


HOUSE DOCKET, NO. 948        FILED ON: 1/19/2011

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 556

By Mr. Beaton of Shrewsbury, a petition (accompanied by bill, House, No. 556) of Matthew Beaton (by vote of the town) authorizing the town of Shrewsbury to create a special fund for school construction projects.  Municipalities and Regional Government.  [Local Approval Received.]

 

[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE HOUSE, NO. 4899 OF 2009-2010.]


The Commonwealth of Massachusetts
 

_______________

In the Year Two Thousand Eleven

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An Act authorizing the town of Shrewsbury to establish a special fund
.
 

              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 Section 53 of Chapter 44 of the General Laws or any other general or special law to the contrary, the Town of Shrewsbury may establish a special fund in the town treasury into which shall be deposited all income derived from investment of the proceeds of bonds and notes issued for school construction projects, including work incidental and related thereto, and for services of architects and other professional consultants to prepare detailed plans, specifications and working drawings and other necessary documents for the Sherwood Middle School Project:

              Construction, equipping and furnishing of a new middle school

              Related services of architects, project managers and other professional consultants; and

              Expenses of the Sherwood Middle School Building Committee.

              Any income derived from the investment or reinvestment of the special fund shall remain with and become part of the special fund.  The town treasurer shall be the custodian of the special fund and shall make an accounting of the special fund to each annual town meeting.  Any finds held in the special fund shall constitute trust funds within the meaning of Section 54 of Chapter 44 of the General Laws.  All amounts in the special fund shall be applied solely to the payment of the debt service associated with a school building project or projects for which bonds or notes have been authorized or both authorized and issues, in such an amount as any special or annual town meeting mat determine in any given year.

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