AN ACT AUTHORIZING THE TOWN OF TRURO 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,
The town of Truro may establish and
maintain a special account to be known as the Capital Improvements Fund and may
raise and appropriate money therefor.
The Capital Improvements Fund shall be maintained by the
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. Interest earned thereon shall be credited
to and become part of the separate account.
By a two-thirds vote at any
special or annual town meeting the town may appropriate such sums as may be
available in the Capital
Improvements Fund for any capital purchase or expenditure of the town.
This act shall take effect upon its passage.