Whereas , The deferred operation of this act would tend to defeat its purpose, which is to facilitate forthwith the issuance of certain notes to carry out the purposes of certain acts passed by the general court, therefore it is hereby declared to be an emergency law, necessary for the immediate preservation of the public convenience.

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

Chapter 27 of the acts of 1997 is hereby amended by striking out section 5 and inserting in place thereof the following section:-

Section 5. Notwithstanding the provisions of any general or special law to the contrary, the notes which the state treasurer is authorized to issue under section 9 of chapter 11 of the acts of 1997 shall be issued and may be renewed one or more times for a term not to exceed 18 years and the final maturities of such notes, whether original or renewal, shall be not later than June 30, 2015, as recommended by the governor in a message to the general court dated May 12, 1998 pursuant to Section 3 of Article LXII of the Amendments to the Constitution of the Commonwealth.