Article 12

ARTICLE 12.  To see if the Town will vote in accordance with the provisions of Chapter 77 of the Acts of 2023 to rescind the vote taken under Article 9 of the May 9, 2023 Annual Town Meeting creating a Special Opioid Settlement Stabilization Fund and dedicating 100% of the opioid litigation settlement funds received by the Town to such fund pursuant to G.L. c. 40, §5B, such funds henceforth to be placed in a special revenue fund to be expended without further appropriation for all of the purposes allowed by law, including those outlined in applicable opioid litigation settlement documents; or take any other action related thereto.

                              Sponsored and supported by the Select Board

                              Finance Committee recommends adoption of this article

COMMENT:  The Boxford Select Board agreed to join the Massachusetts Attorney General’s settlement agreements against opioid manufacturers, granting Boxford access to funds available for helping to mitigate the opioid epidemic. The Mass General Laws require special handling of this revenue. Last spring, Annual Town Meeting approved a stabilization fund for the opioid settlement revenue because it was the best available financial mechanism for managing these payments. Since that time, the state has authorized the use of a special revenue fund. This article revokes the stabilization fund and authorizes the use of the special revenue fund.  This is more of a housekeeping matter in that it adjusts the accounting of the funds.  It will not have any effect on Town’s expectation to receive nearly $215,000 over the next 15 years through the settlement agreements.