AN ACT FURTHER REGULATING THE USE OF FUNDS IN THE MASSACHUSETTS WATER RESOURCES AUTHORITY CAPITAL INFRASTRUCTURE FUND IN THE TOWN OF STOUGHTON.
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. Chapter 106 of the acts of 2006 is hereby amended by striking out section 1 and inserting in place thereof the following section:-
Section 1. Notwithstanding any general or special law to the contrary, the town of Stoughton may establish and maintain in the town treasury a Massachusetts Water Resources Authority Capital Infrastructure Fund into which shall be deposited all receipts from those entities that maintain a tax increment financing agreement with the town which specifies that the entity will contribute all or part of its exempt property tax to the fund. The board of selectmen, as water commissioners, may, without further appropriation, annually transfer from the fund to the Water Enterprise Fund an amount to defray the cost of debt service in the Water Enterprise Fund or to make capital purchases for the Water Enterprise Fund. This annual transfer shall be limited to the available balance in the fund.
SECTION 2. This act shall take effect upon its passage.
Approved, February 9, 2018