Amendment ID: H4137-1

Amendment 1

An Act authorizing the town to establish a millennium fund of the Wayland Free Public Library

Mr. Eldridge moves to amend the bill by striking out, in their entirety, sections 3 and 4 and inserting in the place thereof the following sections:-

“SECTION 3. Notwithstanding sections 45 through 47, inclusive, of chapter 41 of the General Laws or any other general or special law to the contrary, the treasurer of the town of Wayland shall be the custodian of the fund and shall maintain the fund as a separate revenue account. The town treasurer shall invest and reinvest the fund pursuant to chapter 203C of the General Laws as directed by the board of commissioners of trust funds. The town treasurer shall expend therefrom monies as directed by the board of library trustees. The books and records of the fund shall be audited annually by an independent auditor in accordance with accepted accounting practices. A copy of the audit shall be provided annually to the board of library trustees and the select board.

SECTION 4. Within 30 days of the effective date of this act, the board of commissioners of trust funds shall inspect the records of the town treasurer and the board of library trustees and determine what existing monies of the town were intended by donors to be a part of the fund and vote to transfer such monies into the fund. Such monies shall thereafter be subject to this act.”