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 Winchendon is hereby authorized to establish a fund to be known as the Infrastructure Investment Fund, which Fund shall provide revenue for costs associated with the closing and capping of the existing working site at the landfill located on River street in said town. Expenditures from said Fund shall be subject to appropriation initiated by the town manager and approved by a two-thirds vote at a regular or special town meeting.
SECTION 2. The town of Winchendon may appropriate to the Infrastructure Investment Fund, by a majority vote at a regular or special town meeting in any year, an amount not to exceed ten percent of the amount raised in the preceding fiscal year by taxation of real and tangible personal property. The aggregate amount of the Infrastructure Investment Fund at any time shall not exceed ten percent of the equalized valuation of the town of Winchendon as defined in section one of chapter forty-four of the General Laws. Any interest shall be added to and become part of the Fund.
SECTION 3. The town treasurer of the town of Winchendon shall be the custodian of the Fund and may deposit the proceeds in national banks or invest such proceeds by deposit in savings banks, cooperative banks or trust companies organized under the laws of the commonwealth or in federal savings and loan associations located in the commonwealth.
SECTION 4. The town treasurer of the town of Winchendon shall file a written report with the board of health of said town and with the annual report of said town relative to said Fund. Said report shall be made within one hundred and twenty days after the books of account are closed for each fiscal year. Such report shall include a financial statement relating to the operation, maintenance and expenditures made under said Fund. The board of health may review and comment on said report and file such review with the department of revenue.