[Adopted 11-17-2008 STM, Art. 8]
A.Â
There shall be a Board of Trustees of the Georgetown Affordable Housing
Trust which shall consist of five trustees appointed by the Board
of Selectmen, at least one of which shall be a member of the Board
of Selectmen, for terms of two years to expire on June 30, except
that initially terms shall be selected by the Selectmen, so that two
trustees so appointed shall have initial terms not to exceed one year
and three trustees so appointed shall have terms not to exceed two
years. Vacancies shall be filled by the Board of Selectmen for the
remainder of the unexpired term. All Trustees must be residents of
the Town of Georgetown to be eligible for appointment. Any member
of the Board of Trustees may be removed from the Board, after the
opportunity for a hearing. The Town Administrator shall not be eligible
for appointment as a Trustee. The Chair of the Board of Trustees shall
be elected annually by the Board of Trustees.
B.Â
The powers of the Board of Trustees, all of which shall be carried
on in furtherance of the purposes set forth in MGL c. 44, § 55C,
shall include the powers listed in MGL c. 44, § 55C(c)(1)
through (c)(16), inclusive.
C.Â
The Board of Trustees shall provide for an annual audit of the books
and records of the Trust. Such audit shall be performed by an independent
auditor in accordance with accepted accounting practices. Upon receipt
of the audit by the Board of Trustees, a copy shall be provided forthwith
to the Board of Selectmen.
