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 any general or special law to the contrary, the town of Mashpee is hereby authorized to establish and maintain a separate account to be known as the Capital Replacement Fund and to raise and appropriate money therefor. Said fund shall be kept separate and apart from all other monies of said town by the town treasurer. Said treasurer may invest such funds in the manner authorized by sections fifty-four and fifty-five of chapter forty-four of the General Laws.
Said town of Mashpee may appropriate money from the Fund by majority vote at an annual or special town meeting such sums as may be available in said fund for any capital purchase or expenditure of said town.
SECTION 2. This act shall take effect upon its passage.