AN ACT ESTABLISHING A CERTAIN REVOLVING FUND IN THE TOWN OF SOUTHAMPTON.
Be it enacted by the Senate and House of Representatives
in General Court assembled, and by the authority of the same,
The town of Southampton is hereby authorized to establish and maintain a
separate fund which shall be designated and known as the William E. Norris
School Renovation Fund for the purpose of conducting major repairs and
renovations to said school. Said town is hereby authorized, at a regular or
special town meeting, to vote the transfer of the unexpended proceeds of the
$7,000,000 bond sale for the reconstruction of said school to said fund. Said
town may appropriate or transfer monies to said fund by a majority vote at a
regular or special town meeting in any year. The treasurer of said town shall
be the custodian of said fund. Monies from said fund shall be expended, from
time to time, without further appropriation by the school committee of said
town with the approval of the board of selectmen of said town.