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May 29, 2024 Clouds | 75°F
The 193rd General Court of the Commonwealth of Massachusetts


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 section 53 of chapter 44 of the General Laws or any other general or special law to the contrary, the town of Hamilton may establish a special fund for the Patton homestead to be known as the Patton Homestead Fund. The fund shall be used to operate, maintain, repair, restore and preserve the Patton Homestead buildings, structures and property. 

(b) The Patton Homestead Fund shall be kept separate and apart from all other money and managed under the direction and control of the town manager for the town of Hamilton, who shall designate the treasurer-collector of the town of Hamilton as the custodian of the fund.

(c) The finance director of the town of Hamilton shall keep a full accounting of the fund and make an annual report, on a fiscal year basis, to the town of Hamilton which shall be incorporated into the annual report of the town of Hamilton. The report shall include the total amount of money in the fund and the investments, receipts and disbursements from the fund and shall set forth in detail the sources of all income and receipts, the purposes of expenditures and other information that the finance director considers appropriate. Receipts, for the purposes of this act, comprise all money generated from the use of the property, gifted or donated to support the property and all other revenue of any kind or nature related directly or indirectly to the Patton Homestead, excepting only tax and grant receipts. 

(d) In addition to administering the proceeds of the Patton Homestead Fund, the town may solicit, receive and deposit into the fund any other money donated to the fund including, but not limited to, gifts designating a specific purpose. The existing Patton Gift Fund shall be merged into the Patton Homestead Fund. The treasurer-collector of the town of Hamilton shall prudently invest the funds deposited in the Patton Homestead Fund in accordance with the standards set forth in chapter 203C of the General Laws. The town manager may issue a request for proposals to assist the town manager in the professional financial management of the fund and may enter into contracts with qualified investment managers, registered as such under the United States Investment Advisors Act of 1940, on such terms and conditions as the town manager determines shall assist the town manager in carrying out the purposes of the fund. 

(e) Expenditures made by the town manager of the town of Hamilton in accordance with this act may be made without further appropriation. 

SECTION 2. This act shall take effect upon its passage.

Approved, May 2, 2018