Be it enacted by the Senate and House of Representatives
in General Court assembled, and by the authority of the same,
SECTION 1. The county commissioners of Barnstable county are hereby authorized to expend a sum not to exceed five million dollars for the development of a nursing home on the grounds of the Barnstable county hospital.
SECTION 2. For the purposes aforesaid, the treasurer of Barnstable county, with the approval of the county commissioners and county advisory board approval thereof, may borrow upon the credit of the county such sums as may be necessary, not exceeding, in the aggregate, five million dollars and may issue bonds or notes of the county therefor, which shall bear on their face the words, Barnstable County Nursing Home, Act of 1985. Each authorized issue shall constitute a separate loan and such loans shall be payable in not more than twenty years from their dates. The bonds or notes shall be signed by the county treasurer and countersigned by a majority of the county commissioners. The county may sell the said securities at public or private sale, upon such terms and conditions as the county commissioners deem proper, but not for less than their par value. Indebtedness incurred hereunder shall, except as herein provided, be subject to chapter thirty-five of the General Laws.
SECTION 3. The county treasurer, with the approval of the county commissioners and county advisory board, may issue temporary notes of the county, payable in not more than one year from their date, in anticipation of the issue of serial bonds or notes under this act, but the time within which such serial bonds or notes shall become due and payable shall not, by reason of such temporary notes, be extended beyond the time fixed by this act. Any notes issued in anticipation of the serial bonds or notes shall be paid from the proceeds thereof.