AN ACT AUTHORIZING THE TOWN OF ATHOL TO ESTABLISH A SPECIAL FUND FOR THE REHABILITATION OF CERTAIN PROPERTIES.
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, the town of Athol may establish a special fund for the deposit of any proceeds collected from funds recaptured through receivership or rehabilitation liens, and state or federal grants or local appropriations for such purposes, after February 1, 2015. Interest earned on the fund shall be treated as general fund revenue of the town. Any balance remaining in the fund at the close of a fiscal year shall be available for expenditure in subsequent fiscal years.
Proceeds from the fund shall be used at the determination of the town manager, in consultation with the town’s vacant and abandoned building committee or its successor, without further appropriation, to secure, clear, rehabilitate or make loans to purchase and rehabilitate, make safe or demolish, and any associated costs, properties designated as receivership properties by the town or by a court of competent jurisdiction.
No expenditure shall be made from the fund and no liability shall be incurred in excess of the balance of the fund.
The town manager shall annually report to the board of selectmen on the total amount of receipts and expenditures for the fund for the prior fiscal year and for the current fiscal year through December 31 or such later date as the board of selectmen may, by vote, determine, together with such other information as the board of selectmen may, by vote, require.
SECTION 2. This act shall take effect upon its passage.
Approved, July 14, 2016.