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 Bristol county are hereby authorized to raise and expend a sum not exceeding one million seven hundred thousand dollars to finance county expenditures for the fiscal year ending June thirtieth, nineteen hundred and ninety-one, including costs of operating and maintaining the Bristol county agricultural school. Such sum shall include the amount of all sums advanced and to be advanced temporarily by the county for such purposes in anticipation of the receipt of funds appropriated in item 7100-0119 of section two of chapter one hundred and fifty of the acts of nineteen hundred and ninety. No expenditures shall be made under this act for purposes other than the payment of direct costs of operating and maintaining the Bristol county agricultural school, including reimbursement of the county treasury for sums advanced to pay such direct costs, unless such expenditures shall first have been approved by the director of the bureau of accounts in the department of revenue.
SECTION 2. For the purposes authorized by section one of this act, including reimbursement of the county treasury for sums advanced temporarily therefrom for such purposes, the treasurer of Bristol county, with the approval of the county commissioners and the advisory board on county expenditures for said county, may borrow upon the credit of the county such sums as may be necessary, not exceeding, in the aggregate, one million seven hundred thousand dollars, and may issue bonds or notes of the county therefor, which shall bear on their face the words Bristol County Agricultural School Loan, Act of 1990. Each authorized issue shall constitute a separate loan and such loans shall be payable in not more than ten 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 said securities at public or private sale, upon such terms and conditions and in such manner as the county treasurer, with the approval of the county commissioners, may 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. This act shall take effect upon its passage.