Pursuant to the authority of MGL c. 44, § 55C, there
is hereby created a local municipal affordable housing trust fund
to be known as the "Amesbury Housing Trust" (the "Trust"). The purpose
of the Trust is to provide for the creation and preservation of affordable
housing in the City of Amesbury for the benefit of low- and moderate-income
households and for the funding of community housing, as defined in
and in accordance with the provisions of MGL c. 44B.
A majority of the Trustees may exercise any or all of the powers
of the Trustees hereunder, provided that a quorum is present, and
may execute on behalf of the Trust any and all instruments with the
same effect as though executed by all the Trustees. No Trustee shall
be required to give bond. No license of court shall be required to
confirm the validity of any transaction entered into by the Trustees
with respect to the Trust estate.
Neither the Trustees nor any agent or officer of the Trust shall
have the authority to bind the City, except in the manner specifically
authorized herein. The Trust is a public employer and the Trustees
are public employees for the purposes of MGL c. 268A. The Trust shall
be deemed a municipal agency and the Trustees special municipal employees
for the purposes of MGL c. 268A.
This declaration of Trust may be amended from time to time except
as to those provisions specifically required under MGL c. 44, § 55C,
by instrument in writing signed by the City Council and by 2/3rds
of the Trustees and approved at a meeting called for that purpose,
provided that in each case, a certificate of amendment has been recorded
with the Essex South District Registry of Deeds and filed with the
Land Registration Office.