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

Notwithstanding section 53 of chapter 44 of the General Laws or any other general or special law to the contrary, the town of Rockport may establish a separate fund to be known as the Thacher Island Capital Projects Fund and to raise and appropriate money. The fund shall be maintained by the town treasurer as a separate account. The treasurer may invest the monies in the manner authorized in sections 55 and 55B of said chapter 44. Any interest earned thereon shall be credited to and become part of the fund. The town may appropriate by majority vote at any annual or special town meeting such sums as may be available in said fund for any capital project on Thacher island.