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into the city, town or district treasury." We can only find a few statutes that deal with monies f' <br /> held by a town for the performance of obligations by a private party. For example, G.L. c. 41, <br /> § 81U, authorizes acceptance of a cash deposit in-lieu of a performance bond to secure <br /> installation of infrastructure required by planning board approval of subdivision plans and, by ! <br /> local acceptance, such a deposit may be spent by the board for the completion of the work if it is <br /> under$100,000. Absent statutory authority, it is unclear if treasurers can serve as an escrow <br /> agent if the money is not public funds or how the money could be spent without appropriation if <br /> the money is public funds. We suggest that the town discuss this issue in more detail with town <br /> counsel and the Department of Revenue, Bureau of Municipal Finance Law. <br /> Note: Under G.L. c. 40,§32, neither general nor zoning by-laws take effect unless the <br /> town has first satisfied the posting/publishing requirements of this section. Once this <br /> statutory duty is fulfilled, (1)greneral by-laws and amendments take effect on the date that <br /> these posting and publishing requirements are satisfied unless a later effective date is <br /> prescribed in the by-law, and (2)zoning by-laws and amendments are deemed to have taken <br /> effect from the date they were voted by Town Meeting,unless a later effective date is <br /> prescribed in the by-law. <br /> If the Attorney General has disapproved and deleted one or more portions of any by-law or <br /> by-law amendment submitted for approval,only those portions approved are to be posted <br /> and published pursuant to G.L. c. 40,§32. We ask that you forward to us a copy of the <br /> final text of the by-law or by-law amendments reflecting any such deletion. It will be <br /> sufficient to send us a copy of the text posted and published by the Town Clerk pursuant to <br /> this statute. <br /> Nothing in the Attorney General's approval authorizes an exemption from any applicable <br /> state law or regulation governing the subject of the by-law submitted for approval. i <br /> i- <br /> Very truly yours, <br /> MARTHA COAKLEY <br /> ATTORNEY GENE i <br /> by: Kelli E. Gunagan, Assistant X4forney General <br /> By-law Coordinator, Municipal Law Unit <br /> 1350 Main Street, 4th Floor <br /> Springfield, MA 01103-1629 <br /> (413) 784-1240, x 117 <br /> a <br /> enc. <br /> PC: <br /> i <br /> Town Counsel <br /> I <br /> FAUSERS\RITCHIE\WP6I\DOCS\TOWNS\MASHP <br /> EE\#4506A DIS.DOC 5 <br />