AN ACT AUTHORIZING THE TOWN OF WELLESLEY TO ESTABLISH A GROUP INSURANCE LIABILITY 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. In addition to the reasons for which voter approval may be sought as set forth in section 21C of chapter 59 of the General Laws, but subject to the limitations set forth herein, the local appropriating authority of the town of Wellesley may, by a two-thirds vote, seek voter approval at a regular or special election to assess taxes in excess of the amount allowed pursuant to said section 21C for the purpose of funding said town’s Group Insurance Liability Fund, established by chapter 88 of the acts of 2004; provide, however, that the question submitted shall be as follows:-
“Shall the Town of Wellesley be allowed to assess an additional $____ in real estate and personal property taxes for each of the fiscal years in the period beginning July 1, ____, and ending June 30, ____, for the purpose of funding said town’s Group Insurance Liability Fund?”
Yes____ No____; and provided, further, that said question shall be deemed approved if a majority of the persons voting thereon shall vote “Yes”.
SECTION 2. The town may appropriate from the tax levy, from available funds, or from borrowing, contingent upon the passage of the referendum questions under section 1, subject to the provisions set forth in subsection (m) of section 21C of chapter 59 of the General Laws. Adjustments to the town’s limit on property taxes shall be computed as though the town has passed capital outlay exclusions under paragraph (il/2) of section 21C of chapter 59 of the General Laws.
SECTION 3. This act shall take effect upon its passage.