I. A town or city, having established a housing commission under this subdivision, may appropriate money to the housing commission as necessary to carry out its purposes. The whole or any part of money so appropriated in any year and any gifts of money received under N.H. Rev. Stat. § 674:44-i shall be placed in a housing fund and allowed to accumulate from year to year.
II. The town treasurer, pursuant to N.H. Rev. Stat. § 41:29, shall have custody of all moneys in the housing fund and shall pay out the same only upon order of the housing commission. The disbursement of housing funds shall be authorized by a majority of the housing commission.