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Section 1. The Selectmen shall before the first day of May 1961 appoint a Finance Committee consisting of five registered voters of the Town, no one of whom shall be an elected official of the Town nor an employee of the Town who is responsible for the compilation and presentation of a departmental budget, two members of which original committee shall be appointed for a term of one year. Subsequent replacements to this committee shall be elected beginning with the 1963 Annual Town election and shall be for a term of three years except that appointed members of the committee shall continue in office until the expiration of their terms. Interim appointments to fill vacancies caused by death or resignation shall be to fill the unexpired term.
Section 2. The Finance Committee shall have the powers and duties set forth in Section 16 of Chapter 39 of the Massachusetts General Laws (Ter.Ed.) and shall consider and act upon any and all municipal questions to be included as Articles in all Warrants for Annual and Special Town Meetings including the annual town budget. Articles involving the appropriation of money and to come before the Annual Town Meeting shall be presented to the Finance Committee at least forty-five days before the date set for such Annual Town Meeting. Other Articles for the Annual Town Meeting and all Articles for a Special Town Meeting shall be presented to the Finance Committee at least twenty-one days before that meeting. With respect to any particular Annual or Special Town Meeting, the Finance Committee, by two-thirds of its vote, and by written notice to the Selectmen, may reduce the minimum number of days set forth in the preceding two sentences for presentation to it of the Warrant articles. The Committee shall make its report and recommendations to each Town Meeting, which report and recommendation if so voted by the said Committee, shall be printed by and at the expense of the Town.
Section 3. Members absent from one-third of the regular meetings in any fiscal year may be removed by a two-thirds vote of the other members present and voting.
Section 4. In the event of any vacancy in its membership, the Finance Committee shall notify the Selectmen in writing and the Selectmen and the Finance Committee, under the provisions of Chapter 41 Section 11, MGL, shall fill such vacancy.