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 sections 42G to 42I, inclusive, and section 42K of chapter 40 and chapter 80 of the General Laws or any other general or special law, rule or regulation to the contrary, the town of Charlton, through its board of water and sewer commissioners, may levy estimated water assessments for the estimated costs of establishing, developing and constructing a water supply and water distributing system, or components thereof, including any design, engineering, legal, management, accounting and financial planning and administrative costs, whether or not included in a contract for construction of the facilities; provided, that the estimated water assessments shall not exceed 50 per cent of the estimated costs, and the total of the estimated assessments shall be allocated by the same method to be used for the allocation of the actual assessments upon completion of the work, and when the final costs of establishing, developing, and constructing the facilities have been determined, the town may assess and collect actual water assessments, and said chapter 80 relative to the apportionment, division, interest and collection of assessments shall apply to estimated assessments under this section, but said chapter 80 relating to abatements shall not apply to estimated assessments under this section. Revenues from the estimated assessments made under this section shall be dedicated to the payment of the costs of establishing, developing and constructing the facilities, until all the costs and debt service obligations have been paid in full.
SECTION 2. This act shall be applicable to all water projects in the town of Charlton for which assessments have not yet been made.
SECTION 3. Notwithstanding any general or special law, or rule, regulation or guideline of the department of revenue, retained earnings in a water Enterprise Fund established by the town of Charlton under section 53F1/2 of chapter 44 of the General Laws may be appropriated to the General Fund of the town to reimburse capital costs of the enterprise and administrative costs related to capital projects of the enterprise subsidized by the General Fund and not already reimbursed for the 10 full, immediately prior, fiscal years.
SECTION 4. This act shall take effect upon its passage.
Approved, November 14, 2012.