AN ACT INCREASING THE EXPENDITURE LIMIT ON THE PARKS AND RECREATION REVOLVING FUND IN THE TOWN OF HANOVER.
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 clause (4) of the third paragraph of section 53E½ of chapter 44 of the General Laws, the town of Hanover may establish a Revolving Fund for the parks and recreation department from which the town may expend an amount in excess of 1 per cent of the amount raised by taxation in the town of Hanover in the most recent fiscal year for which a tax rate has been certified, provided that said fund complies in all other respects with said section 53E½ of said chapter 44.
SECTION 2. This act shall take effect upon its passage.Approved, May 16, 2012.