AN ACT AUTHORIZING THE ESTABLISHMENT OF THE WOOD ROAD BETTERMENT FUND IN THE TOWN OF BRAINTREE.
Be it enacted by the Senate and House of Representatives
in General Court assembled, and by the authority of the same,
Notwithstanding section 53 of chapter 44 of the General Laws, the town of Braintree may
establish and maintain a separate account, known as the Wood Road Betterment
Fund. The town treasurer shall keep the fund separate and apart from all other
monies of the
town and shall deposit in it all road and
sidewalk betterment payments related to Wood road received by the town. The
town treasurer may invest such funds in the manner prescribed in sections 54
and 55 of said chapter 44. Any interest earned thereon shall be credited to,
and become part of, the fund. The principal and income therefrom shall be
available for expenditure by the board of selectmen, in consultation with the
town engineer, without further appropriation, for roadway improvements to Wood
road performed in accordance with chapter 80 of the General
This act shall take effect upon its passage.