AN ACT AUTHORIZING THE TOWN OF DENNIS TO ESTABLISH A CAPITAL IMPROVEMENTS FUND.
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. The town of Dennis may establish and maintain a special account to be known as the Capital Improvements Fund, and to raise and appropriate money therefor.
SECTION 2. The Capital Improvements Fund shall be maintained by the town treasurer as a separate account. The treasurer may invest the funds in such separate account in the manner authorized in .sections 55 and 55B of chapter 44 of the General Laws. Any interest earned thereon shal credited to and become part of the separate account.
SECTION 3. The town may appropriate by a two-thirds vote at any special or annual town meeting such sums as may be available in the Capital Improvements Fund for any capital purchase or expenditure to the town.
SECTION 4. This act shall take effect upon its passage.