Post date: Jul 13, 2018 4:15:19 PM
Mary Kennedy and I received this attached letter today from the Attorney General’s’ office. The letter approves the Revolving Fund bylaw voted at the Annual Town Meeting in May. The letter includes extensive commentary on the use and function of revolving funds, intended as guidance. You will see a comment at the end about one revolving fund which referred to being in effect in FY 2018. Perhaps that was a clerical error? In any event, the AG’s office correctly points out that the new bylaw voted in May 2018 can only take effect as of July 2018. However, if the fund was in existence from past Town Meeting votes, this comment would have no effect.
Joel
Joel B. Bard, Esq.
Note: the reference to the revolving fund at the end of the article was the Gas & Plumbing Inspection Fee fund which was in existence already and properly operational, so it falls into the "this comment would have no effect" portion of Joel's note.