By Representative Callahan of Sutton and Senator Moore, joint petition (accompanied by bill, House, No. 4173) of Jennifer M. Callahan (by vote of the town) that the town of Bellingham be authorized to establish certain revolving funds. Municipalities and Regional Government. [Local Approval Received.]

The Commonwealth of Massachusetts

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PETITION OF:

Jennifer M. Callahan

Richard T. Moore

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In the Year Two Thousand and Seven.

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An Act authorizing the town of Bellingham to establish certain revolving funds.

    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 any general or special law to the contrary, the town of Bellingham any establish the following revolving funds, the Nextel Revolving Fund, the Bank of America Revolving Fund and the Bellingham Historical Commissions Revolving Fund which shall be kept separate and apart from all other monies of said town by the treasurer and in which shall be deposited the proceeds of any appropriation, grants, transfers, gifts and fees received by said town for deposit in said funds.  The treasurer may invest such funds in the manner authorized by sections 54 and 55 of chapter 44 of the General laws.  Any income derived from such investments shall be deposited in the general fund of the town and become part of the general fund investment .

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