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

SECTION 1. Notwithstanding section 53 of chapter 44 of the General Laws, the town of Braintree may establish and maintain a separate account, known as the Wood Road Betterment Fund. The town treasurer shall keep the fund separate and apart from all other monies of the town and shall deposit in it all road and sidewalk betterment payments related to Wood road received by the town. The town treasurer may invest such funds in the manner prescribed in sections 54 and 55 of said chapter 44. Any interest earned thereon shall be credited to, and become part of, the fund. The principal and income therefrom shall be available for expenditure by the board of selectmen, in consultation with the town engineer, without further appropriation, for roadway improvements to Wood road performed in accordance with chapter 80 of the General Laws.

SECTION 2. This act shall take effect upon its passage.