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

Notwithstanding the provisions of section 53 of chapter 44 of the General Laws or any other general or special law to the contrary, the town of Northbridge is hereby authorized to establish a separate fund to be known as the Capital Construction and Equipment Account which shall be kept separate and apart of all other monies of said town by the town treasurer and in which shall be deposited all payments received from the sale of gravel by said town. The treasurer may invest such funds in the manner authorized by sections 54 and 55 of said chapter 44. The principal and interest thereon shall be reserved for appropriation for the construction of a department of public works facility.