AN ACT AUTHORIZING THE TOWN OF MILTON TO ESTABLISH A SPECIAL 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. Notwithstanding the provisions of section 53 of chapter 44 of the General Laws or any other general or special law to the contrary, the town of Milton may establish a special fund in the town treasury into which shall be deposited all income derived from investment of the proceeds of bonds and notes issued for school construction projects, including work incidental and related thereto, and for services of architects and other professional consultants to prepare detailed plans, specifications and working drawings and other necessary documents for the following projects:
(1) construction, equipping and furnishing of a new high school at the site of the existing Pierce middle school, or repair, renovation, remodeling, equipping and furnishing of portions of Pierce middle school, and partial or complete demolition of Pierce middle school, all for conversion to a new high school;
(2) repair, renovation, remodeling, equipping and furnishing of the existing Milton high school, and construction, equipping and furnishing of additions to Milton high school, and partial demolition of Milton high school, all for conversion to a new middle school;
(3) repair, renovation, remodeling, equipping and furnishing of Collicot school, and construction, equipping and furnishing of additions to Collicot school, or construction, equipping and furnishing of a new Collicot school, and partial or complete demolition of Collicot school;
(4) repair, renovation, remodeling, equipping and furnishing of Cunningham school and construction, equipping and furnishing of additions to Cunningham school, and partial demolition of Cunningham school;
(5) repair, renovation, remodeling, equipping and furnishing of Glover school, and construction, equipping and furnishing of additions to Glover school, and partial demolition of Glover school;
(6) repair, renovation, remodeling, equipping and furnishing of Tucker school, and construction, equipping and furnishing of additions to Tucker school, or construction, equipping and furnishing of a new Tucker school, and partial demolition of Tucker school;
(7) related services of architects, project managers and other professional consultants;
(8) the transfer of one or more parcels of town owned land to the school department for school purposes, for construction of an access road between Gile road and Blue Hills Parkway; and
(9) expenses of the school building committee.
Any income derived from the investment or reinvestment of the special fund shall remain with and become part of the special fund. The town treasurer shall be the custodian of the special fund and shall make an accounting of the special fund to each annual town meeting. Any funds held in the special fund shall constitute trust funds within the meaning of section 54 of chapter 44 of the General Laws. All amounts in the special fund shall be applied solely to the payment of debt service associated with a school building project or projects for which bonds or notes have been authorized or both authorized and issued, in such amount as any special or annual town meeting may determine in any given year.
SECTION 2. This act shall take effect upon its passage.