AN ACT ESTABLISHING A SPECIAL PURPOSE REVOLVING FUND IN THE TOWN OF NORTH ANDOVER
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 53E½ of chapter 44 of the General Laws or any other general or special law to the contrary, there shall be in the town of North Andover a special purpose revolving fund to be known as the Stevens Estate Revolving Fund into which shall be deposited receipts received from the use and operation of the Stevens estate, located at 723 Osgood street in the town of North Andover.
(b) The fund may be expended by the town manager for the maintenance, repair, upkeep and operation of the Stevens estate, including associated buildings and grounds.
(c) The limit on the total amount that may be expended from the fund in any fiscal year shall be determined annually by vote of the select board.
(d) The fund, except as otherwise contained herein, shall be considered a revolving fund for the purposes of said section 53E½ of said chapter 44.
SECTION 2. This act shall take effect upon its passage.
Approved, February 12, 2024.