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. The city of Springfield is hereby authorized to issue bonds or notes for the purpose of acquiring or demolishing condemned properties within the city or both, in order to promote the public health, safety and welfare of the residents of said city. Bonds or notes issued pursuant to the authority hereof shall be within the limits of indebtedness prescribed in section 10 of chapter 44 of the General Laws, shall be issued for terms not to exceed 20 years from the date of issue and shall otherwise be subject to the provisions of said chapter 44. No properties shall be acquired hereunder unless and until the mayor shall have made a finding that such properties constitute a threat to the health, safety and welfare of the citizens of said city of Springfield.

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