| Chapter 255 |
| 2021 -- S 0987 Enacted 07/14/2021 |
| A N A C T |
| AMENDING AN ACT ESTABLISHING THE SMITHFIELD LAND TRUST |
Introduced By: Senator Stephen R. Archambault |
| Date Introduced: June 28, 2021 |
| It is enacted by the General Assembly as follows: |
| SECTION 1. Sections 7 and 8 of Chapter 13 of the 2001 Public Laws entitled "An Act |
| Establishing the Smithfield Land Trust" are hereby amended to read as follows: |
| Section 7. The trust shall have the responsibility to recommend to the town council to: |
| (a) Purchase, receive by gift, or otherwise acquire fee simple or lesser interests in real |
| property, including development rights as defined in section ยง 42-82-2 of the general laws, or any |
| interest in real property consistent with purposes of this act, including other development rights on |
| easements of any kind whatsoever; |
| (b) Accept gifts, grants, or loans of funds or resources or services from any source, public |
| or private, and comply, subject to the provisions of this act, with any terms and conditions thereof |
| within the limits of its available funds; |
| (c) Accept from state and/or federal agencies, loans or grants or resources for use in |
| carrying out the trust's purposes and enter into agreements with such these agencies respecting any |
| such loans or grants within the limits of its available funds; |
| (d) Employ counsel, auditors, engineers, surveyors, appraisers, private consultants, |
| advisors, secretaries, or other personnel needed to perform its duties within the limits of its available |
| funds; |
| (e) Administer and manage land and interests in land held by it in a manner which that |
| allows public use and enjoyment consistent with the natural and scenic resources thereof, including |
| conveyance of any such land or interests in land to, and contracts with, nonprofit organizations, |
| provided such the land shall continue to be used in a manner consistent with the purposes of this |
| act and with the terms of any grant or devise by which such the land was acquired by the trust; |
| (f) Dispose of all or any portion of its real property or interests therein held by it, whenever |
| in the opinion of the trustees said the lands or properties have become unsuitable or have ceased to |
| be used for the purpose set forth in this act. Such The disposition shall be made only by a vote of |
| the trustees in which at least six (6) members vote in favor of such a disposition and further only |
| after having been approved by a two thirds (2/3) four-fifths (4/5) affirmative vote of the town |
| council at an annual or special financial town meeting of the town. Nothing in this subsection shall |
| be construed to authorize the sale, lease, or conveyance of lands or improvements held by the trust |
| as part of a charitable trust or acquired by gift or devise for the public use, whether or not such the |
| gift or devise is subject to a condition subsequent or reverter. |
| Section 8. All funds collected by virtue of the town's bonding authority for the purpose of |
| financing the activities of the trust under this act shall be deposited in a reserve fund by the town |
| treasurer. Additional moneys or other liquid assets received as voluntary contributions, grants, or |
| loans, funds appropriated to the trust by vote of the annual town meeting or special appropriation |
| process, or proceeds from disposal of real property or interests shall be deposited into said the |
| account. All operating expenses lawfully incurred by the trust in carrying out the provisions of this |
| act shall be evidenced by proper vouchers and shall be paid by the treasurer of the town only upon |
| submission of invoices approved by the trust and by the town manager. The treasurer of the town |
| shall prudently invest available assets of the funds, and all income thereon shall accrue to the fund. |
| The decision to dissolve the trust shall only result after a vote of the trustees in which at |
| least six (6) members vote to recommend dissolution of the trust to the town council. The town |
| council shall then hold a public hearing on the recommendation to dissolve. At the conclusion of |
| the public hearing the town council shall vote on the matter within forty-five (45) days of said the |
| hearing. Dissolution shall require three (3) affirmative votes of the town council. |
| Upon termination or dissolution of the trust, the title of all funds and other properties owned |
| by the trust which remain after payment or making provision for payment of all bonds, notes and |
| other obligations of the trust shall vest in the town which shall manage the lands of the dissolved |
| trust in the same manner for which such the lands were donated or purchased in the best interest of |
| the purposes of the dissolved trust. If in the opinion of the town council said the land of the |
| dissolved trust no longer meet the purposes set forth in this act, the town may dispose of said the |
| lands upon a two thirds (2/3) four-fifths (4/5) affirmative vote of the town council at an annual or |
| special financial town meeting of the town. |
| SECTION 2. This act shall take effect upon passage. |
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