AN ACT AUTHORIZING THE TOWN OF AUBURN TO ESTABLISH AN AUBURN HIGH SCHOOL GYMNASIUM HEALTH AND RECREATION TRUST 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 any general or special law to the contrary, the town of Auburn may establish and maintain a special account known as the Auburn High School Gymnasium Health and Recreation Trust Fund and may raise and appropriate money therefore.
SECTION 2. The fund shall be maintained by the town of Auburn as a separate account. The treasurer of the town may invest the funds in the separate account in the manner authorized by sections 55 and 55B of chapter 44 of the General Laws. The interest earned on the fund shall be credited to and become part of the separate account.
SECTION 3. The town of Auburn shall appropriate by majority vote at its annual town meeting the interest earned by the fund solely for the purpose of offsetting school department costs in support of community health and recreational activities at the Auburn high school gymnasium and related recreational facilities and equipment.
SECTION 4. This act shall take effect upon its passage.