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

The towns of Groveland, Merrimac and West Newbury are hereby authorized to lease land and buildings to the Pentucket Regional School District for any new or existing elementary school. The lease shall be for a term not exceeding 50 years and shall be authorized, executed and delivered on behalf of each town by its board of selectmen and by said school district by the regional district school committee. The lease may provide, without limitation, that it shall terminate and the leased property shall revert to the town if the town should no longer be a member of the regional school district or if the regional school district school committee should determine that the land, with the building and other improvements thereon, is no longer needed for educational programs of the school district.