AN ACT AUTHORIZING THE INVESTMENT OF CERTAIN TRUST FUNDS IN THE TOWN OF WESTON
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 54 of chapter 44 of the General Laws, or any other general or special law to the contrary, the town of Weston may invest trust funds in the custody of the treasurer in accordance with the prudent investment rule consistent with, and subject to, chapter 203C of the General Laws.
SECTION 2. At the discretion of the commissioners of trust funds of the town of Weston and the finance director, the commissioners may employ a qualified bank, trust company, corporation, firm or person to advise on the investment of trust funds under the commissioners’ control. The commissioners may use trust monies, to the extent consistent with the intent of the donors of such funds, to pay for the advice and other services required to properly invest and reinvest such funds. Should the amount of such services exceed $50,000, the commissioners, by and through the town manager of the town, shall procure the same in accordance with section 6 of chapter 30B of the General Laws.
SECTION 3. This act shall take effect upon its passage.
Approved, May 6, 2022.