AN ACT AUTHORIZING A STABILIZATION FUND FOR THE BOURNE WATER DISTRICT.
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. Chapter 441 of the acts of 1938, as most recently amended by section 1 of chapter 135 of the acts of 2004, is hereby further amended by inserting after section 7 the following section:-
Section 7A. Notwithstanding the provisions of section 5B of chapter 40 of the General Laws or any other general or special law to the contrary, the district may appropriate in any year an amount not exceeding 10 per cent of the receipts from taxes, rates, and service of the preceding fiscal year for the purpose of creating a stabilization fund.
SECTION 2. This act shall take effect upon its acceptance at a meeting of the Bourne Water District.
Approved June 6, 2006.