AN ACT AUTHORIZING THE TOWN OF NORTH READING TO LEASE A CERTAIN BUILDING.
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
SECTION 1. Notwithstanding the provisions of chapter 30B of the General Laws or any other general or special law to the contrary, the town of North Reading, acting by and through its board of selectmen, is hereby authorized to lease the Weeks Building/Damon Tavern, hereinafter called the Damon Tavern, for a term not to exceed 25 years to The North Reading Historical and Antiquarian Society Inc. for the preservation and protection of the historical resources of said town.
SECTION 2. Any funds derived from the use, operation, or subleasing of any portion of the Damon Tavern by said society shall be deposited into a special account known as the Damon Tavern Revolving Trust Fund which shall be kept separate and apart from all other accounts of the town. The town may appropriate in any year monies from said Fund for the maintenance and upkeep of said Damon Tavern and grounds. Said society shall select an independent certified public accountant to perform an annual audit of the society's books and accounts and to make a report of such accountant's findings and opinions to the board of selectmen of said town.
SECTION 3. If at any time the Damon Tavern ceases to be used for the purposes specified in section 1, the lease shall terminate and the control of the property shall revert to the town.
SECTION 4. The consideration for any sublease of any portion of the Damon Tavern shall be the full and fair market value of said leasehold interest and any such sublease shall require the approval of the board of selectmen of the town of North Reading.