AN ACT ESTABLISHING A SPECIAL ACCOUNT IN THE TOWN OF BRIDGEWATER.
Be it enacted by the Senate and House of Representatives
in General Court assembled, and by the authority of the same,
SECTION 1. Notwithstanding the provisions of section fifty-three of
chapter forty-four of the General Laws or any other provisions of law to the
contrary, the town of Bridgewater is hereby authorized to establish a special
account to be known as the Bridgewater Senior Center Trust Fund into which
account shall be deposited all donations and gifts received from any source by
the trustees of the senior center of the town. Donations from private sources
or specific fund raising campaigns may be received and placed into said
account, as well as monies from other sources authorized by law.
SECTION 2. Said account shall be maintained by the town treasurer of
said town and shall be kept separate and apart from all other monies by said
treasurer. Said treasurer may invest the monies in said account in the manner
authorized by sections fifty-five and fifty-five A of chapter forty-four of
the General Laws. The interest accruing on said account shall inure solely to
the benefit of said account. Said account shall be audited by the town's
certified public accountants and said audit report shall be submitted to the
director of the bureau of accounts.
SECTION 3. The town treasurer shall assure that sufficient money is
available at all times to meet expenditures from said fund. The trustees of
the senior center in said town shall annually furnish the treasurer a schedule
of anticipated expenditures on a monthly basis. Expenditures from said account
may be authorized by a majority vote of the trustees of the senior center with
approval from the board of selectmen of the town, in accordance with
conditions, restrictions or guidelines, if any, which may accompany the
donation or gift of any funds. Any monies so authorized for expenditure but
not expended shall revert to said trust account.