AN ACT ESTABLISHING A WATERWAYS CAPITAL IMPROVEMENT FUND FOR THE TOWN OF DENNIS.
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, there shall be a special fund in the town of Dennis to be known as the Waterways Capital Improvement Fund. A portion of the fees collected for boat storage shall be deposited into the fund, without further appropriation. Appropriations from the fund shall be made by the town of Dennis for improvements to the waterways groundwork.
SECTION 2. Fifty per cent of revenue collected from the boat storage fees in the town of Dennis shall be deposited into the Waterways Capital Improvement Fund established pursuant to section 1; provided, however, that if authorized by by-law, the board of selectmen of the town of Dennis may decrease the percentage of revenue collected from the boat storage fees deposited into the fund.
SECTION 3. The Waterways Capital Improvement Fund established pursuant to section 1 shall be maintained by the treasurer of the town of Dennis as a separate account, subject to any applicable provisions of chapter 44 of the General Laws and any interest earned thereon shall be credited to or become part of the separate account. An annual report, which shall include projects undertaken, expenditures made and income received by the fund, shall be submitted to the board of selectmen of the town of Dennis not later than December 31 and the board of selectmen shall vote to accept the report.
SECTION 4. This act shall take effect upon its passage.
Approved, November 20, 2018.