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. (a) Notwithstanding any general or special law to the contrary, there shall be established in the town of Acton a Town of Acton Energy Efficiency Fund to provide funds for energy savings in town-owned facilities or on town-owned property or for other energy efficiency, energy conservation or renewable energy projects or activities of the town.
(b) The town of Acton may appropriate and transfer monies into the fund by a majority vote of the Acton town meeting. Monies may also be deposited into the fund, with the approval of a majority of the board of selectmen of the town of Acton, from any of the following sources: gifts, grants and donations received from public or private sources; federal and state funding programs; revenues from energy efficiency incentive payments, power purchase agreements, renewable energy leases and similar sources; and any other source authorized by law. Expenditures from the fund shall be made, with the approval of a majority of the board of selectmen of the town of Acton, without further appropriation.
(c) The town manager of the town of Acton, with the approval of a majority of the board of selectmen, may apply for public or private grants, incentives or subsidies for energy efficiency, energy conservation or renewable energy projects or activities, using any unencumbered balance of the fund as necessary matching funds for such grants, incentives or subsidies.
(d) The fund shall be maintained by the treasurer of the town of Acton as a separate account, and any interest accrued shall be credited to and become part of the fund. Any monies remaining in the fund at the end of each fiscal year shall remain in the fund to be used for the purposes provided for in this act. The town treasurer shall annually provide a report to the board of selectmen of the town of Acton on monies deposited into and expended from the fund.
(e) The town of Acton may, by a two-thirds vote of its town meeting, dissolve the fund and, after paying any sums due therefrom, transfer the remaining unencumbered balance to the town’s general fund.
Approved, December 20, 2012.