By Mr. Natale of Woburn, petition (accompanied by bill, House, No. 4246) of Patrick M. Natale  and others (by vote of the town) relative to the transfer of surplus funds of the town of Stoneham to the stabilization account of said town. Municipalities and Regional Government. [Local Approval Received.]

The Commonwealth of Massachusetts

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PETITION OF:

Patrick M. Natale

Paul C. Casey

Richard R. Tisei

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In the Year Two Thousand and Seven.

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An Act RELATIVE TO THE FORM OF GOVERNMENT IN STONEHAM

    Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:

AN ACT RELATIVE TO THE FORM OF GOVERNMENT IN STONEHAM

SECTION 1. Chapter 26 of the acts of 1981, as most recently amended by chapter 296 of the acts of 1994, is further amended by adding the following:

Section 17. Upon receipt of the department of revenue certification of the amount of surplus revenue (free cash) from a given fiscal year budget, that is available for use; the total amount shall be immediately transferred to the stabilization fund account.

SECTION 2. This act shall be effective upon its passage.