Session Laws

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:

SECTION 1. Notwithstanding the provisions of any general or special law to the contrary, the maturities of bonds or notes issued by the town of Dartmouth for the comprehensive water system improvement project authorized under Article 8 of the warrant for its nineteen hundred and eighty-six annual town meeting shall either be arranged so that for each issue the annual combined installments of principal and interest payable in each year be as nearly equal as practicable in the opinion of the town treasurer and the board of selectmen, or shall be arranged in accordance with a schedule providing for a more rapid amortization of principal. Project costs to be financed by the issue of said bonds or notes may include interest on temporary notes issued in anticipation of said bonds or notes or of any state or federal aid to be received for project costs. Any net earnings derived from investment of the proceeds of the bonds or notes described herein, including temporary notes, may be expended and shall be used only to offset appropriation made for construction, equipping, operation or maintenance of the town's water supply and distribution system facilities, including payments of principal and interest on said bonds or notes. Except as otherwise provided in this act, indebtedness incurred by the town of Dartmouth for the purposes herein described shall be subject to the applicable provisions of chapter forty-four of the General Laws.

SECTION 2. The board of public works of the town of Dartmouth shall at least annually conduct a review of the rates and charges for use of the town's water supply and distribution system, with a view to assuring that such rates and charges shall be sufficient to cover the costs of operating and maintaining such water supply and distribution system, including the annual payments of principal and interest on bonds or notes issued for additions and improvements to said system.

SECTION 3. This act shall take effect upon its passage.