AN ACT ESTABLISHING A GOLF COURSE CAPITAL IMPROVEMENT FUND IN THE TOWN OF DENNIS.
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 section 53 of chapter 44 of the General Laws or any other general or special law to the contrary, there shall be a special fund in the town of Dennis to be known as the Golf Courses Capital Improvement Fund. There shall be deposited into the fund, without further appropriation, a portion of the revenue collected from the operation of the Dennis golf courses. Appropriations from the fund shall be made by the town of Dennis only for golf-related capital improvements.
SECTION 2. Five per cent of the total greens fees and $100 from each adult golf membership fee as calculated on June 30 of each year shall be deposited into the fund on an annual basis. The board of selectmen may, if authorized by by-law, increase or decrease the amount of golf revenue that shall be deposited into the fund.
SECTION 3. The Golf Courses Capital Improvement Fund shall be maintained by the town treasurer as a separate account, subject to chapter 44 of the General Laws, and any interest earned thereon shall be credited to and become part of the separate account.
SECTION 4. This act shall take effect upon its passage