AN ACT AUTHORIZING THE TOWN OF BELLINGHAM TO ESTABLISH CERTAIN REVOLVING FUNDS.
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
Notwithstanding section 53 of chapter 44 of the General Laws or any other general or special law to the contrary, the town of Bellingham may establish in the town treasury 3 revolving funds which shall be kept separate and apart from other monies by the treasurer of the town and in which shall be deposited the proceeds of any appropriation, grant, transfer, gift, fee and tuition received by the town for deposit in the funds. Any income derived from the investment or reinvestment of monies held in the funds shall remain in the General Fund of the town. The funds shall be as follows:
School Department Bellingham Early Childhood Program
School Department Bellingham After School Program
School Department Alternative High School Printing Program.
The town treasurer shall provide revenue, expenditure and fund balance reports at each annual town meeting.