AN ACT ESTABLISHING THE CITY OF CAMBRIDGE EMPLOYMENT AND JOB TRAINING TRUST
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. There shall be a trust to be known as the City of Cambridge Employment and Job Training Trust. The purpose of the trust shall be to assist in the creation and maintenance of employment opportunities within the city of Cambridge for the residents of the city through employment and job training services.
SECTION 2. There shall be a board of trustees of the City of Cambridge Employment and Job Training Trust, which shall be composed of not less than 5 and not more than 9 trustees, including the city of Cambridge’s city manager or a designee, who shall serve ex officio, and additional members to be appointed by the city manager who shall be designated as public agents for purposes of the Constitution of the commonwealth.
SECTION 3. The powers of the board of trustees of the City of Cambridge Employment and Job Training Trust shall be exercised in furtherance of the purposes set forth in this act and shall include, but not be limited to:
(i) receiving and accepting personal property, by gift, grant, devise or transfer from any federal, state or local governmental or other public entity or any person, trust, corporation or private entity, including, but not limited to, funds or other personal property tendered to the trust in connection with zoning ordinances in the city;
(ii) retaining personal property, including, but not limited to, personal property that is uninvested and investments that yield no income or yield a high rate of income;
(iii) making grants for the trust’s purposes upon such terms as the board deems advisable;
(iv) making loans for the trust’s purposes upon such terms of repayment or otherwise as the board deems advisable and to extend the time for payment of any obligation of the trust;
(v) selling, exchanging or transferring personal property of the trust for such consideration and upon such terms as the board deems advisable;
(vi) executing, acknowledging and delivering assignments, transfers, pledges, contracts, promissory notes, releases and other instruments, sealed or unsealed, necessary, proper or incidental to any transaction involving the trust’s assets that the board engages for the purposes of the trust;
(vii) employing advisors and agents, including, but not limited to, accountants and appraisers, and delegating to such persons or firms such ministerial or discretionary powers as the board deems necessary;
(viii) paying reasonable compensation to all advisors and agents and apportioning such compensation between income and principal as the board deems advisable;
(ix) apportioning receipts and charges between income and principal as the board deems advisable;
(x) exercising all powers and rights, including proxies and powers of attorney, necessary and proper in connection with the ownership of any securities held as part of the trust’s personal property;
(xi) compromising, arbitrating, defending, enforcing, releasing, settling or otherwise adjusting claims in favor of or against the trust and accepting any personal property, either in total or partial satisfaction of any indebtedness or other obligation, and subject to the provisions of this act, holding the same for such period of time as the board may deem advisable; and
(xii) exercising all other powers authorized by common law, general or special law, the Constitution of the commonwealth or other provisions of this act.
SECTION 4. Notwithstanding any general or special law to the contrary, all monies paid to the City of Cambridge Employment and Job Training Trust by public or private contribution or in accordance with city of Cambridge zoning ordinances shall be paid directly into the trust and shall not require appropriation or acceptance and approval into the trust. General revenues appropriated into the trust shall become trust property and such funds shall not be subject to appropriation. All monies remaining in the trust at the end of any fiscal year, whether or not expended by the board within 1 year of the date they were appropriated into the trust, shall remain trust property.
SECTION 5. The City of Cambridge Employment and Job Training Trust shall be a public employer and the members of the board of trustees shall be public employees for the purposes of chapter 258 of the General Laws.
SECTION 6. The City of Cambridge Employment and Job Training Trust shall be deemed a municipal agency and the board of trustees shall be special municipal employees for the purposes of chapter 268A of the General Laws.
SECTION 7. The City of Cambridge Employment and Job Training Trust shall be a public body for purposes of sections 18 to 25, inclusive, of chapter 30A of the General Laws.
SECTION 8. The City of Cambridge Employment and Job Training Trust shall be exempt from chapters 59 and 62 of the General Laws and from any other general or special laws concerning the payment of taxes based upon or measured by personal property or income imposed by the commonwealth or any political subdivision thereof.
SECTION 9. The books and records of the City of Cambridge Employment and Job Training Trust shall be audited annually by an independent auditor in accordance with accepted accounting practices.
SECTION 10. The declaration of trust, which establishes and controls the City of Cambridge Employment and Job Training Trust, as provided in this act, shall be filed in the office of the city of Cambridge city clerk.
SECTION 11. The City of Cambridge Employment and Job Training Trust shall be a governmental body for purposes of chapter 30B of the General Laws and section 15A of chapter 40 of the General Laws; provided, however, that agreements and conveyances between the trust and agencies, boards, commissions, authorities, departments and public instrumentalities of the city of Cambridge shall be exempt from said chapter 30B.
SECTION 12. The board of trustees of the City of Cambridge Employment and Job Training Trust shall at least annually, and more frequently, upon request of the city manager, file a written report with the city manager of its activities for the reporting year and an accounting of its receipts and expenditures.
SECTION 13. This act shall take effect upon its passage.
Approved, February 18, 2026.