AN ACT AUTHORIZING THE TOWN OF WAYLAND TO ESTABLISH A MILLENNIUM FUND OF THE WAYLAND FREE PUBLIC LIBRARY
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, the town of Wayland may establish and maintain a separate purpose fund to be known as the Millennium Fund of the town of Wayland Free Public Library, hereinafter referred to as the fund. The fund shall be used exclusively to support the public libraries in the town of Wayland beyond any other appropriations made by the town.
SECTION 2. Notwithstanding section 53A of chapter 44 and section 11 of chapter 78 of the General Laws or any other general or special law to the contrary, the board of library trustees or its designee may accept grants or gifts of funds, including gifts of securities, into the fund. All grants or gifts of funds offered to the town of Wayland for library purposes shall be deposited into the fund upon acceptance by the board of library trustees; provided, however, that a donor may provide written instructions at the time of donation that the funds offered shall be deposited in another fund or subject to such other restrictions as the donor may elect. Any interest, dividends, revenue or growth accrued or generated by the fund shall be added to and shall become a part of the fund. The fund shall be available to the board of library trustees, in its sole discretion and authority and without further appropriation, for the purposes set forth in section 1 of this act.
SECTION 3. Notwithstanding sections 45 through 47, inclusive, of chapter 41 of the General Laws or any other general or special law to the contrary, the treasurer of the town of Wayland shall be the custodian of the fund and shall maintain the fund as a separate revenue account. The town treasurer shall invest and reinvest the fund pursuant to chapter 203C of the General Laws as directed by the board of commissioners of trust funds. The town treasurer shall expend therefrom monies as directed by the board of library trustees. The books and records of the fund shall be audited annually by an independent auditor in accordance with accepted accounting practices. A copy of the audit shall be provided annually to the board of library trustees and the select board.
SECTION 4. Within 30 days of the effective date of this act, the board of commissioners of trust funds shall inspect the records of the town treasurer and the board of library trustees and determine what existing monies of the town were intended by donors to be a part of the fund and vote to transfer such monies into the fund. Such monies shall thereafter be subject to this act.
SECTION 5. Notwithstanding section 53A½ of chapter 44 of the General Laws or any other general or special law to the contrary, the board of library trustees may, in its sole discretion and authority, accept gifts of tangible personal property on behalf of the town from the federal government, a charitable foundation, private corporation, individual or from the commonwealth or any political subdivision thereof, and may, in its sole discretion and authority, use said gifts without specific appropriation thereof, for the purpose of such a gift; provided, however, that such purposes are consistent with the purposes set forth in section 1 of this act, or, if no restrictions are attached to the gift for the purposes set forth in section 1 of this act.
SECTION 6. This Act shall take effect upon passage.
Approved, June 30, 2026.