Section 62D: Investment by city or town treasurer of money and securities received from commission; bond
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/ma/part-i/title-xvi/chapter-111/62dA research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 62D. The city or town treasurer shall invest, reinvest and hold in the name of said commission any money or securities, or the proceeds thereof, received from said commission under the preceding section, and shall disburse the income or principal thereof on its order; provided, that no disposition of either income or principal shall be made which is inconsistent with the terms of the trust on which the property is held. The treasurer shall furnish a bond satisfactory to the commission for the faithful performance of his duties relative to such property.