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. Chapter 516 of the acts of 1969 is hereby amended by inserting after section 5C, inserted by section 2 of chapter 628 of the acts of 1989, the following section:-

Section 5D. Notwithstanding the provisions of any general or special law to the contrary, the maturities of bonds or notes issued by the district under the provisions of this act or under any other provisions of law shall either be arranged so that for each issue the annual combined payments of principal and interest shall be as nearly equal as practicable in the opinion of the officers authorized to issue said bonds or notes or, shall be arranged in accordance with a schedule providing for a more rapid amortization of principal.

SECTION 2. This act shall take effect upon its passage.