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HOUSE DOCKET, NO. 2458        FILED ON: 1/17/2013

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1829


The Commonwealth of Massachusetts



Viriato Manuel deMacedo


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 relative to the establishment of a county stabilization fund.






Viriato Manuel deMacedo

1st Plymouth

Josh S. Cutler

6th Plymouth

Michael D. Brady

9th Plymouth

Thomas J. Calter

12th Plymouth

Christine E. Canavan

10th Plymouth

James M. Cantwell

4th Plymouth

Angelo L. D'Emilia

8th Plymouth

Susan Williams Gifford

2nd Plymouth

Keiko M. Orrall

12th Bristol

Randy Hunt

5th Barnstable

Geoff Diehl

7th Plymouth

Garrett J. Bradley

3rd Plymouth

HOUSE DOCKET, NO. 2458        FILED ON: 1/17/2013

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1829

By Mr. deMacedo of Plymouth, a petition (accompanied by bill, House, No. 1829) of Viriato Manuel deMacedo and others relative to the establishment of county stabilization funds.  Municipalities and Regional Government. 


The Commonwealth of Massachusetts



In the Year Two Thousand Thirteen



An Act relative to the establishment of a county stabilization 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.               Chapter 35, Section 28B of the General Laws is hereby amended by inserting after section (i) the following section:-

              (j) For the purpose of creating and maintaining a County Stabilization Fund the advisory board may appropriate in any year any amount as may be approved by a two-thirds vote.  Any interest shall be added to and become part of the fund.

              The Treasurer shall be custodian of said fund and may deposit the proceeds in national banks or invest the proceeds by deposit in savings banks, cooperative banks or in participation units in a combined investment fund under section thirty-eight A of chapter twenty-nine, or invest the same in such securities as are legal for the investment of funds of savings banks under the provisions of chapter one hundred and sixty-eight or in federal savings and loans situated in the commonwealth.

              The County Stabilization Fund may be appropriated by the county commissioners with the approval of a two-thirds vote of the advisory board for any purpose.

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