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The Massachusetts Clean Water Trust, established by Chapter 29C, shall hold the fund in an account <br /> separate from other funds of the Trust. The Trust shall apply and disburse amounts credited to the Fund, <br /> without further appropriation, to provide subsidies and other assistance to.local governmental units and <br /> other eligible borrowers in the payment of debt service costs on loans and other forms of financial <br /> assistance made by the Trust for water pollution abatement projects in municipalities that are members of <br /> the Fund. Each municipality within Barnstable, Nantucket or Dukes County shall be a member of the fund if <br /> it is subject to: (i) an area wide wastewater management plan under section 208 of the federal Clean <br /> Water Act (33 U.S.C. 1288); or (ii) a suitable equivalent plan determined by the Department of <br /> Environmental Protection. Water pollution abatement projects eligible for subsidies and other assistance <br /> may include the utilization of innovative strategies and alternative septic system technologies that result in <br /> nutrient reduction for marine and fresh waters. <br /> The Fund may provide subsidies and other assistance with respect to debt incurred prior to the <br /> establishment of the Fund in the towns of Nantucket, Edgartown, Tisbury, Oak Bluffs, Falmouth, Chatham <br /> and Provincetown and the city of Barnstable for water pollution abatement projects apart from.the Trust. <br /> Amounts credited to the fund shall be expended or applied only with the approval of the Cape Cod and <br /> Islands Water Protection Fund Management Board established under section 20 of Chapter 29C and in a <br /> manner determined by the Board. The Board, subject to a memorandum of understanding with the <br /> Department of Environmental Protection, may direct the comptroller to transfer a specified amount not to <br /> exceed 10 per cent of.the annual revenue deposited into the Fund to the Department for the Department <br /> to contract with a regional planning agency, institution of higher education or non-profit corporation to <br /> evaluate and report on the benefits of adaptive management measures to reduce nitrogen pollution of <br /> coastal waterways undertaken pursuant to an area wide 'wastewater management plan or a suitable <br /> equivalent plan, to monitor the water quality and watersheds of areas subject to the study and to support <br /> further assessment and water quality modeling to further refine area wide wastewater management plans <br /> or suitable equivalent plans in Barnstable and Nantucket counties and the county of Dukes County. Any <br /> amounts remaining in the Fund at the end of a fiscal year shall be carried forward into the following fiscal <br /> year and shall remain available for application and disbursement without further appropriation. <br /> A municipality that is a member of the Fund may withdraw from the Fund by a % vote of its legislative <br /> body; provided, however, that a .municipality cannot withdraw from the Fund during the term of any <br /> financial assistance award from the Fund to the municipality. A municipality that has withdrawn from the <br /> Fund shall not have representation on the Cape Cod and Islands Water Protection. Fund Management <br /> Board. <br /> The Cape Cod and Islands Water Protection Fund Management Board shall consist of 1 person to be <br /> appointed by each board of selectmen or town council in each municipality that is a member of the Cape <br /> Cod and Islands Water Protection Fund; provided that an appointee of a board of selectmen or town <br /> council shall be a member of the respective board/council, a town manager, town administrator or other <br /> municipally employed professional staff. The executive director of the Cape. Cod Commission, the <br /> executive director of the Martha's Vineyard Commission and the town manager of Nantucket shall serve as <br /> 3 <br />