Be it enacted by the Senate and House of Representatives
in General Court assembled, and by the authority of the same,
SECTION 1. The town of Ashburnham is hereby authorized to establish and maintain a special account to be known as the capital improvement fund, and to raise and appropriate money therefor.
SECTION 2. The capital improvement fund shall be maintained by the town treasurer as a separate account. Said treasurer may invest the funds in such separate account in the manner authorized in sections fifty-five and fifty-five B of chapter forty-four of the General Laws. Any interest earned thereon shall be credited to and become part of said separate account.
SECTION 3. The town may appropriate by majority vote at any special or annual town meeting such sums as may be available in said fund for any capital purchase or expenditure to the town.
SECTION 4. This act shall take effect upon its passage.