AN ACT AUTHORIZING THE TOWN OF ASHBY TO ESTABLISH A CAPITAL RESERVE ACCOUNT.
Be it enacted by the Senate and House of Representatives
in General Court assembled, and by the authority of the same,
The town of Ashby may establish and maintain a special
account to be known as the Capital Reserve Account and may raise and
money for it. The town treasurer shall maintain the account as a
separate account. The treasurer may invest funds in the account in the manner
authorized by sections 55 and 55B of chapter 44 of the General Laws and any
interest earned on the account shall be credited to and become part of the
The town may appropriate by a 2/3 vote at any special or annual town
meeting such sums as may be available in the account for any capital purchase
or capital expenditure of the town.
This act shall effect take upon its passage.