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, rule or regulation to the contrary, the town of Reading is hereby authorized to grant Louis Bacigalupo a superannuation retirement allowance in accordance with chapter 32 of the General Laws equal to 2.1 per cent of either: (i) the average annual rate of regular compensation received by said Louis Bacigalupo during any period of three consecutive years of creditable service for which such rate of compensation was the highest, or (ii) the average annual rate of regular compensation received by said Louis Bacigalupo during the period or periods, whether consecutive or not, constituting his last three years of creditable service preceding retirement, whichever is greater, multiplied by the number of years of creditable service; provided, however, that such superannuation retirement allowance shall be in lieu of and not in addition to any superannuation retirement allowance said Louis Bacigalupo may have been receiving prior to the effective date of this act; provided, further, that such superannuation retirement allowance shall be deemed noncontributory for the purposes of this act.
SECTION 2. This act shall take effect as of January 1, 1998.