SECTION 1. That portion of the town of Dartmouth within a certain territory shall constitute an improvement district and is hereby made a body corporate and politic, entitled “The Lincoln Park Improvement District” which shall hereinafter be referred to as “the district”.  The district is bounded and described as follows: /

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SECTION 2.  The purpose of the district shall be to lay out, construct, maintain, improve and operate a system or systems of roadways, parking facilities, water works, sewer works, electrical distribution facilities and any other infrastructure elements reasonably necessary to the development and upkeep of the district, within or without the district, collectively, the facilities, to service a part or whole of the territory within the district, contracting with the town of Dartmouth for such purposes, and for assessing and raising revenues as provided herein to pay for such facilities.

SECTION 3.  The powers conferred by this act shall be exercised by a board of commissioners, consisting of 5 members.  Said board shall not be subject to the supervision of the department of public works of the town or of any other department, commission, board, bureau or agency of the town except to the extent and in the manner provided in this act.  The members of said board shall be appointed by the selectmen of the town of Dartmouth, except for the public works director of the town of Dartmouth, who shall serve as a member ex officio.  Three members shall be individual owners of land located within the district, or nominated by owners of land located within the district, provided that such nominees must be individual residents of the town of Dartmouth.  One member shall be a resident of the town of Dartmouth.  Except for the public works director of the town of Dartmouth who shall serve as an ex officio member of the board, members shall serve 3-year terms, except that 2 members of the initial board shall serve a term of 1 year, and the remaining 2 members shall serve staggered terms of 2 and 3 years respectively, with the term of each initial board member to be designated by the selectmen on appointment.  Any member of the board may be eligible for reappointment.  Prior to assuming office, every member of the board shall take, before the town clerk, an oath to administer the duties of his office faithfully.  A record of all such oaths shall be filed in the office of the town clerk.  The selectmen may remove any member of the board for good cause, where good cause shall include any ground that is not arbitrary, irrational, unreasonable, in bad faith or irrelevant to the sound operation of the district.

Three members of the board shall constitute a quorum and the affirmative vote of 3 members shall be necessary for any action taken by vote of the board; provided, however, that an affirmative vote of 4 members shall be necessary to exercise any of the powers enumerated in clause (i) of section 5.  No vacancy in the membership of the board shall impair the right of a quorum to exercise the powers of the board.  Any action by the board shall take effect immediately unless otherwise provided and need not be published or posted.  All meetings of the board shall be subject to sections 23A through 24, inclusive, of chapter 39 of the General Laws, and notice of all such meetings shall be posted in the office of the town clerk at least 48 hours in advance.

SECTION 4.  The board shall not commence any initial development of, or construction in, the district, and shall not appropriate any monies for, or commence any financing of the same, until and unless it presents to the select board an initial improvement plan for the development of the district, and receives from the select board the approval of that plan.

SECTION 5.The board, acting for and on behalf of said district, shall have all the rights and powers necessary or reasonably related to carrying out and effectuating this act, including, but without limiting the generality of the foregoing, the following rights and powers:

(a)in conformity with the General Laws, to adopt by-laws for the regulation of its affairs and the conduct of its business, to promulgate rules, regulations and procedures in connection with the performance of its functions and duties, and to fix, enforce and collect penalties for the violation thereof; provided, however, that any by-laws with respect to the removal of members of the board shall be consistent with the by-laws of the town of Dartmouth;

(b)to adopt an official seal and alter the same at pleasure;

(c)to maintain an office at such place or places as it may determine;

(d)to apply for, receive, accept, administer, expend and comply with the conditions, obligations and requirements respecting any grant, gift, loan, including without limitation any grant, gift or loan from agencies of local, state or federal governments, donation or appropriation of any property or money in aid of the purposes of the district and to accept contributions of money, property, labor or other things of value; provided, however, that any application for any grant, gift or loan from agencies of local, state or federal governments is subject to prior approval by the select board;

(e)to acquire by purchase, lease, lease-purchase, sale and lease-back, gift or devise, or to obtain options for the acquisition of, any property, real or personal, tangible or intangible, or any interest therein, in the exercise of its powers and the performance of its duties; provided, however, that the board may not acquire property by eminent domain, except as provided for in clause (k);

(f)to sell, lease, mortgage, exchange, transfer or otherwise dispose of, or to grant options for any such purposes with respect to, any property, real or personal, tangible or intangible, or any interest therein;

(g)to construct, maintain, improve and operate a system or systems of  roadways, water works, sewer works, electrical distribution facilities and any other infrastructure elements reasonably necessary to the development and upkeep of the district within or without the district, for the benefit of the district; to construct any such facilities under or over any bridge, railroad, railway, boulevard or other public way, or within the location of any railroad, and to enter upon and dig up any public way or railroad location, for the purpose of constructing, reconstructing, improving or extending any such facilities and of maintaining and repairing the same; provided, however, that they shall not enter upon or construct any such facilities within the location of any railroad corporation except at such time and in such manner as they may agree upon with such corporation, or, in case of failure to agree, as may be approved by the department of public utilities.  Notwithstanding the foregoing, the board shall not construct, maintain, improve or operate a system or systems of  roadways, water works, sewer works, electrical distribution facilities or any other infrastructure elements reasonably necessary to the development and upkeep of the district outside of the boundaries of the district without the prior approval of the board of selectmen of the town of Dartmouth.   

The provisions of chapter 30B of the General Laws shall not apply to the procurement by the district of facilities and facilities improvements financed or acquired in accordance with this act and the provisions of sections 38A½ to 38O, inclusive, of chapter 7, section 39M of chapter 30, sections 44A to 44M, inclusive, of chapter 149 of the General Laws and any other general or special law, regulation, ordinance or bylaw providing for the advertising, bidding or awarding of contracts for design or construction or improvement to property shall not apply to the design and construction by the district of any public infrastructure improvements located within the district. Notwithstanding the foregoing, the provisions of sections 26 to 27F, inclusive, and section 29 of chapter 149 of the General Laws shall apply to the construction by the district of any facilities or facilities improvements in accordance with this act; provided, further, that the provisions of the General Laws that protect public health, welfare and safety shall apply to the actions of the board;

(h)to pledge or assign any money, fees, charges, or other revenues of the district and any proceeds derived by the district;

(i)to borrow money and incur indebtedness and issue bonds or notes as hereinafter provided;

(j)to enter into contracts and agreements with the town of Dartmouth in all matters necessary or reasonably related to carrying out and effectuating the purposes of this act including, without limiting the generality of the foregoing, construction facilities, including facilities outside the district but benefiting the district, improvements, collection of revenue, data processing, and other matters of management, administration and operation; to make other contracts of every name and nature; and to execute and deliver all instruments necessary or convenient for carrying out any of its purposes provided that all contracts made pursuant to clause (g) shall be approved by the selectmen of the town of Dartmouth;

(k)to exercise the powers and privileges of, and to be subject to limitations upon, towns and cities provided by the provisions of sections 38 to 42K, inclusive, of chapter 40 of the General Laws,  as well as chapters 80 and 83 of the General Laws, insofar as such provisions may be applicable and are consistent with the provisions of this act; provided, however, that any requirement in said sections or chapters for a vote by the board of selectmen or other governing body of a town or for a vote by the voters of a town shall be satisfied by a vote or resolution duly adopted by the board in accordance herewith; and, provided further, that the powers of the board to make rules and regulations and establish penalties regarding the use of facilities of the district shall not be limited by section 10 of said chapter 83.  The district shall have the powers of eminent domain applicable to municipalities of the commonwealth; provided, however, that the district shall not exercise this authority without the prior approval of the board of selectmen of the town of Dartmouth. 

(l)to sue and be sued and to prosecute and defend actions relating to its properties and affairs; provided, however, that property of the district other than revenues pledged to the payment of notes or bonds shall not be subject to attachment nor levied upon by execution or otherwise; and

(m)to do all things necessary or reasonably related to carrying out and effectuating the purposes of this act or the powers expressly granted or necessarily implied in this act.

SECTION 6.  The members of the board of commissioners of the district shall be special municipal employees within the meaning of chapter 268A of the General Laws, provided, however, that the provisions of said chapter 268A, or any similar provision of any general or special law, shall not apply to any member of the board having a direct or indirect financial interest in any contract or transaction to be entered into with the district; provided, further, that a statement making disclosure of said member’s interest and the interests of his immediate family in said contract or transaction is described in the improvement plan and filed with the town clerk of the town of Dartmouth. 

In the case of a direct or indirect financial interest of a member of the board arising after the filing of an improvement plan, any member of the board having a direct or indirect financial interest in a contract or transaction to be entered into with the district, shall prepare a statement making disclosure of said member’s interest and the interests of his or her immediate family in said contract or transaction and such statement shall be filed with the board of selectmen and the town clerk of the town of Dartmouth. 

SECTION 7.  The board may fix, revise, charge, collect and abate reasonable fees, betterments, assessments and special assessments for the cost of the improvements and other services and commodities furnished or supplied to the real property in the district and in doing so, may avail itself, as it shall deem necessary and appropriate of the provisions of the General Laws relative to the assessment, apportionment, division, fixing, reassessment, revision, abatement and collection of infrastructure charges, including betterments, assessments and special assessments by cities and towns, or the establishment of liens therefore and interest thereon, and the procedures set forth in sections 5 and 5A of chapter 254 of the General Laws for the foreclosure of liens arising under section 6 of chapter 183A of the General Laws. Notwithstanding any General Laws to the contrary, the district may pay the entire cost of any improvements, or the debt service of notes or bonds used to fund such costs, from betterments, assessments, special assessments or fees and may establish said betterments, assessments, special assessments or fees within 1 year from the completion or acquisition of the improvements. The board may establish a schedule of up to 35 years for the payment of betterments, assessments or special assessments The board may determine the circumstances under which the fees, assessments, special assessments, betterments and other charges may be increased, if at all, as a consequence of delinquency or default. In order to provide for the collection and enforcement of its fees, assessments, special assessments, betterments and other charges, the district, in addition to the powers granted in this act, is hereby granted all the powers and privileges with respect thereto held by the town on the effective date of this act, to be exercised concurrently with the town.  Notwithstanding such concurrent jurisdiction, any liens imposed by the town for the payment of property taxes or other fees shall have priority in payment over any liens of the district.

As an alternative to levying betterments, assessments, and fees, under any other provisions of this act or the General Laws, the district may levy special assessments (“special assessments”) on real estate in the district to finance the cost of improvements.  In determining the basis for and amount of the special assessment, the cost of  improvements, including the cost of the repayment of the debt issued or to be issued to finance the improvements, maybe calculated and levied using any of the following methods:

(a) Equally per front foot, lot, parcel, dwelling unit, or square foot;

(b) According to the value of the property as determined by the town’ board of    assessors; or

(c)  In any other reasonable manner that results in fairly allocating the costs of the improvements to the real estate in the district.

The district may also provide for the following:

(a) A maximum amount to be assessed with respect to any parcel;

(b) A tax year or other date after which no further special assessments under this section shall be levied or collected on a parcel;

(c) A levy to be collected annually without subsequent approval of the district; and

(d) The circumstances under which the special assessment levied against any parcel may be increased, if at all, as a consequence of delinquency or default by the proprietor of that parcel or any other parcel within the district.

The fees, rates, rents, assessments, special assessments and other charges of the board of general application shall be adopted and revised by the board at least annually in accordance with procedures to be established by the board for assuring that interested persons are afforded notice and an opportunity to present data, views and arguments.  The board shall hold at least one public hearing on its schedule of fees, rates, assessments, special assessments and charges or any revision thereof prior to adoption, notice of which shall be delivered to the selectmen and be published in a newspaper of substantial circulation in the town of Dartmouth at least one month in advance of the hearing.  No later than the date of such publication, the board shall make available to the public and deliver to the selectmen the proposed schedule of fees, rates, assessments, special assessments and charges.

The fees, rates, rents, assessments, special assessments, abatements and other charges established by the board shall not be subject to supervision or regulation by any department, division, commission, board, bureau, or agency of the commonwealth or any of its political subdivisions, including, without limitation, the town, nor shall the district be subject to the provisions of section 20A of chapter 59 of the General Laws.  Notwithstanding the foregoing, except to the extent of assessments, special assessments or betterments assessed by the board, the board shall have no power of taxation.  The board’s operating budget shall be limited to the sum of $30,000 for current administrative expenses approved by the board in the fiscal year in which this act shall have been approved and in the fiscal year commencing after the fiscal year in which this act shall have been approved.  Each year thereafter said sum may be increased 2 and one-half per cent per year.

The fees, rates, rents, assessments, special assessments and other charges established by the board in accordance with this section shall be so fixed and adjusted in respect of the aggregate thereof so as to provide revenues at least sufficient (i) to pay the current expenses of the board, (ii) to pay the principal of, premium, if any, and interest on bonds or other evidences of indebtedness issued by the board under this act as the same become due and payable, (iii) to create and maintain such reasonable reserves as may be reasonably required by any trust agreement or resolution securing bonds, (iv) to provide funds for paying the cost of all necessary repairs, replacements and renewals of the district’s infrastructure elements and (v) to pay or provide for any amounts which the board may be obligated to pay or provide for by law or contract including any resolution or contract with or for the benefit of the holders of its bonds.

SECTION 8.  The board is hereby authorized and empowered to provide by resolution for the issuance, at one time or from time to time, of notes of the district in the aggregate principal amount of $20,000,000 outstanding at any one time, excluding notes refunded by other notes issued under this paragraph, for the purpose of providing funds for paying the cost of constructing or acquiring, extending, enlarging, altering, reconstructing or remodeling of facilities of the district as may be authorized by such resolution, including the funding of interest on any notes of the district issued pursuant to section seven hereof in anticipation of federal, state or local grants for such work.

Except as otherwise provided herein, notes issued by the district in accordance with this section shall be issued in anticipation of bonds to be issued by the district pursuant to section 9 of this act and shall be authorized, issued and sold in the same manner as, and shall otherwise be subject to section 8 and other provisions of this act relating to such bonds.  Such notes shall mature at such time or times as provided by resolution of the board and may be renewed from time to time; provided, however, that all such notes and renewals thereof shall mature on or prior to 5 years after their date of issuance.

The proceeds of the notes authorized by this section shall be used solely for paying costs of constructing or acquiring, extending, enlarging, altering, reconstructing or remodeling of facilities of the district as may be authorized by such resolution, including the funding of interest on any notes of the district issued pursuant to section 7 hereof in anticipation of federal, state or local grants for such work and shall be disbursed in such manner and under such restrictions as may be provided in the resolution of the board.

SECTION 9.  In addition to the notes issued under the provisions of section 8, the board may provide by resolution for the issuance from time to time of bonds of the district for any of its corporate purposes.  Bonds may be issued hereunder as general obligations of the district or as special obligations payable solely from particular funds.  Without limiting the generality of the foregoing, such bonds may be issued to pay or refund notes issued by the district pursuant to section 8, to pay the costs of constructing or acquiring, extending, enlarging, altering, reconstructing or remodeling or otherwise improving facilities of the district, to provide such reserves for debt service, repairs and replacements or other costs as may be required by a trust agreement or resolution securing bonds of the district, or for any combination of the foregoing purposes.  The board may also provide by resolution for the issuance from time to time of temporary notes in anticipation of the revenues to be collected for or received by the board in any year, or in anticipation of the receipt of federal, commonwealth or local grants or other aid.  The issuance of such notes shall be governed by the provisions of this act relating to the issuance of bonds other than such temporary notes as the same may be applicable; provided, however, that notes issued in anticipation of revenues shall mature no later than 1 year from their respective dates and notes issued in anticipation of federal, commonwealth or local grants or other aid and renewals thereof shall mature no later than the expected date of receipt of such grants or aid.  Notes in anticipation of revenues issued to mature less than 1 year from their dates may be renewed by the board from time to time by the issue of other temporary notes hereunder; provided, however, that the period from the date of an original note to the maturity of any note issued to renew or pay the same or the interest thereon shall not exceed 1 year.

SECTION 10.  The principal of, premium, if any, and interest on all bonds or notes issued under the provisions of this act, unless otherwise provided herein, shall be payable solely from the funds provided from revenues as herein provided.  Bonds or notes of each issue shall be dated, shall bear interest at such rate or rates, including rates variable from time to time as determined by such index, bankers loan rate or other method determined by the board and shall mature at such time or times, as may be determined by the board, and may be made redeemable before maturity at the option of the board at such price or prices and under such terms and conditions as may be fixed by the board prior to the issue of bonds or notes.  The board shall determine the form of bonds or notes and the manner of execution of bonds or notes and shall fix the denomination or denominations of bonds or notes and the place or places of payment of principal and interest, which may be at any bank or trust company within or without the commonwealth.  In case any officer whose signature or a facsimile of whose signature shall appear on any bonds or notes or coupons shall cease to be such officer before the delivery thereof, such signature or such facsimile shall nevertheless be valid and sufficient for all purposes as if such officer had remained in office until after such delivery.  The board may also provide for authentication of bonds by a trustee or fiscal agent.  The board may by resolution delegate to any member of the board or any combination of them the power to determine any of the matters set forth in this section including the power to award such bonds or notes to a purchaser or purchasers at public or private sale.  The board may sell its bonds or notes in such manner, either at public or private sale, for such price, at such rate or rates of interest, or at such discount in lieu of interest, as it may determine will best effect the purposes of this act.  The board may also provide for the replacement of any bonds which shall have become mutilated or shall have been destroyed or lost.

In the discretion of the board, any bonds issued hereunder may be secured by a resolution of the board or by a trust agreement between the board and a corporate trustee, which may be any trust company or bank having the powers of a trust company within or without the commonwealth, and such trust agreement shall be in such form and executed in such manner as may be determined by the board.  Such trust agreement or resolution may pledge or assign, in whole or in part, the revenues and other moneys held or to be received by the board, including the revenues from any improvements already existing when the pledge or assignment is made, and any contract or other rights to receive the same, whether then existing or thereafter coming into existence and whether then held or thereafter acquired by the board, and the proceeds thereof.  Such trust agreement or resolution may contain such provisions for protecting and enforcing the rights, security and remedies of the bondholders as may, in the discretion of the board, be reasonable and proper and not in violation of law, including, without limiting the generality of the foregoing, provisions defining defaults and providing for remedies in the event thereof which may include the acceleration of maturities and covenants setting forth the duties of, and limitations on, the board in relation to the acquisition, construction, improvement, enlargement, alteration, equipping, furnishing, maintenance, use, operation, repair, insurance and disposition of property of the district, the custody, safeguarding, investment and application of moneys, the issue of additional or refunding bonds, the fixing, revision and collection of fees, rates, rents, assessments, special assessments or other charges, the use of any surplus bond proceeds, the establishment of reserves, and the making an amending of contracts.

In addition to other security provided herein or otherwise by law, bonds or notes issued by the district under any provision of this act, including section eight hereof, may be secured, in whole or in part, by insurance or letters or lines of credit issued to the district by any bank, trust company or other financial institution, within or without the commonwealth, and the board may pledge or assign any of its revenues as security for the reimbursement by the district to the issuers of such insurance or letters or lines of credit of any payments made under any such instruments.

It shall be lawful for any bank or trust company to act as a depository or trustee of the proceeds of bonds, revenues or other moneys under any such trust agreement or resolution and to furnish such indemnification or to pledge such securities and issue such letters of credit as may be required by the board.  Any such trust agreement or resolution may set forth the rights and remedies of bondholders and of the trustee and may restrict the individual right of action by bondholders.  In addition to the foregoing, any such trust agreement or resolution may contain such other provisions as the board may deem reasonable and proper for the security of bondholders.  Any pledge of revenues or other property made by the board under this action shall be valid and binding and shall be deemed continuously perfected for the purposes of chapter 106  of the General Laws from the time when the pledge is made; the revenues, moneys, rights and proceeds so pledged and then held or thereafter acquired or received by the board shall immediately be subject to the lien of such pledge without any physical delivery or segregation thereof or further act; and the lien of any such pledge shall be valid and binding against all parties having claims of any kind in tort, contract or otherwise against the board, irrespective of whether such parties have notice thereof.  Neither the resolution, any trust agreement nor any other agreement by which a pledge is created need be filed or recorded except in the records of the board, and no filing need be made under the provisions of said chapter 106.

Any holder of a bond or note issued by the district under the provisions of this act or of any of the coupons appertaining thereto and any trustee under a trust agreement or resolution securing the same, except to the extent the rights herein given may be restricted by such trust agreement or resolution, may bring suit upon the bonds, notes, or coupons and may, either at law or in equity, by suit, action, mandamus, or other proceedings for legal or equitable relief, including proceedings for the appointment of a receiver to take possession and control of the business and properties of the board, to operate and maintain the same, to make any necessary repairs, renewals and replacements in respect thereof and to fix, revise and collect fees, assessments, special assessments and charges, protect and enforce any and all rights under the laws of the commonwealth or granted hereunder or under such trust agreement, resolution or other agreement, and may enforce and compel the performance of all duties required by this act or by such trust agreement or resolution to be performed by the board or by any officer thereof.

SECTION 11.  The board may issue refunding bonds for the purpose of paying any of its bonds at maturity or upon acceleration or redemption.  Refunding bonds may be issued at such time or times prior to the maturity or redemption of the refunded bonds as the board deems to be in the public interest.  Refunding bonds may be issued in sufficient amounts to pay or provide the principal of the bonds being refunded, together with any redemption premium thereon, any interest accrued or to accrue to the date of payment of such bonds, the expenses of issue of

refunding bonds, the expenses of redeeming bonds being refunded and such reserves for debt service or other capital or current expenses from the proceeds of such refunding bonds as may be required by a trust agreement or resolution securing bonds.  The issue of refunding bonds, the maturities and other details thereof, the security therefore, the rights of the holders thereof, and the right, duties and obligations of the board in respect of the same shall be governed by the provisions of this act relating to the issue of bonds other than refunding bonds insofar as the same may be applicable.

SECTION 12.  Bonds, notes, and other evidences of indebtedness issued or entered into under the provisions of this act shall not be deemed to be a debt or a pledge of the faith and credit of the commonwealth or the town of Dartmouth but shall be payable solely from the revenues of the district.  All bonds, notes and other evidences of indebtedness shall contain on the face thereof a statement to the effect that neither the commonwealth nor the town of Dartmouth shall be obligated to pay the same and that neither the faith and credit nor the taxing power of the commonwealth or of the town of Dartmouth is pledged to the payment of the principal of or interest on such bonds or notes.  Each bond shall also recite whether it is a general obligation of the district or a special obligation thereof payable solely from particular funds pledged to its payment.  Each bond or note shall bear on its face the words, Lincoln Park Improvement District Loan, Act of 2010.  The outstanding debt of the district shall not exceed in the aggregate, $20,000,000.  Each authorized issue shall constitute a separate loan and such loans shall be payable in not more than 30 years from their dates.  Indebtedness incurred under this act shall be limited to the issuance of bonds or notes as herein provided, and any other provision of the General Laws permitting the district to incur additional debt shall not be applicable.

SECTION 13.  All moneys received pursuant to the provisions of this act, whether as proceeds from the issue of bonds or as revenues or otherwise, shall be deemed to be trust funds to be held and applied solely as provided in this act.

SECTION 14.  Bonds or notes issued under the provisions of this act are hereby made securities in which all public officers and public bodies of the commonwealth and its political subdivisions, all insurance companies, commercial departments of trust companies, savings banks, co-operative banks, banking associations, investment companies, executors, administrators, trustees and other fiduciaries may properly and legally invest funds, including capital in their control or belonging to them.  Such bonds or notes are hereby made securities which may properly and legally be deposited with and received by any state or municipal officer or any agency or political subdivision of the commonwealth for any purpose for which the deposit of bonds or obligations of the commonwealth is now or may hereafter be authorized by law.

SECTION 15.  Notwithstanding any of the provisions of this act or any recitals in any bonds issued under this act, all such bonds shall be deemed to be investment securities under the provisions of chapter 106 of the General Laws.

SECTION 16.  Bonds or notes may be issued under this act without obtaining the consent of the any department, division, commission, board, bureau or agency of the commonwealth or the town, and without any other proceedings or the happening of any other conditions or things than those proceedings, conditions or things which are specifically required by this act, and the validity of and security for any bonds or notes issued by the district shall not be affected by the existence or nonexistence of any such consent or other proceedings, conditions or things.

SECTION 17.  The district and all its revenues, income and real and personal property shall be exempt from taxation and from betterments and special assessments and the district shall not be required to pay any tax, excise or assessment to or for the commonwealth or any of its political subdivisions, including the town of Dartmouth.  Bonds or notes issued by the district and their transfer and the income, including any profit made on the sale thereof, shall at all times be exempt from taxation within the commonwealth.  Notwithstanding any general or special law, rule or regulation to the contrary, nothing in this act shall limit, restrict or in any way impair the ability of the town to tax the residents, businesses and real property located within the district; provided, further, that any lien of the town on any resident, business or real property located within the district shall take precedence over any similar lien of the district.

SECTION 18.  The board shall at all times keep full and accurate accounts of its receipts, expenditures, disbursements, assets and liabilities, which shall be open to inspection by any officer or duly appointed agent of the commonwealth or the town; provided further that the board shall conduct an audit of the district’s accounts at least once a fiscal year, to be provided to the select board upon completion.  The district shall operate on a fiscal year commencing July first unless otherwise provided by the board.  Before the issuance of any bonds under the provisions of this act each member or officer of the board charged with responsibility for the issuance thereof, shall execute a surety bond in the sum of $100,000 payable to the district, or in lieu thereof the board shall obtain a blanket position bond covering any member or officer of the board charged with responsibility for the issuance of any bonds in the sum of $100,000, such surety bonds to be conditioned upon the faithful performance of the duties of their offices, to be executed by a surety company authorized to transact business in the commonwealth as surety and approved by the board.

SECTION 19.  Upon termination or dissolution of the district, the title to all funds and other properties owned by it which remain after payment or the making of provision for payment of all bonds and other obligations of the board shall vest in the town.  If upon any such termination or dissolution any bonds or notes of the board shall be outstanding, such bonds or notes, shall continue to be payable solely from the revenues and other property pledged and shall not be or become a debt or obligation of the town except to the extent of such pledge.

SECTION 20.  The provisions of this act shall be deemed to provide an exclusive, additional, alternative and complete method for the doing of the things authorized hereby and shall be deemed and construed to be supplemental and additional to, and not in derogation of, powers conferred upon the board by law; provided, however, that insofar as the provisions of this act are inconsistent with the provisions of any general or special law, administrative order or regulation, or the by-laws of the town of Dartmouth, the provisions of this act shall be controlling.  Without limiting the generality of the foregoing, the provisions of chapter 44 of the General Laws shall not be applicable to the manner of voting or the limitations as to amount and time of payment of debts incurred by the district.

SECTION 21.  The district shall continue in perpetuity until and unless the Dartmouth town meeting shall vote to dissolve it; provided, however, that if this vote occurs prior to the retirement of all debts issued by the district, or prior to the satisfaction of all liabilities of the district, then the district shall continue until 1 year from the date that the district no longer maintains any debts or liabilities; provided, further, that once such a vote is taken, the board shall not issue any additional debt or subject the district to additional liabilities.

SECTION 22.  The board shall, at all times, ensure that the development of the district is in conformity with, and satisfies the requirements of the Lincoln Park Smart Growth Overlay District.

SECTION 23.  All deeds and other recorded instruments noticing the transfer of ownership of any real property within the district shall contain language that expressly discloses that said property is subject to this act.

SECTION 24.  This act shall not be superseded by any subsequent special or general law to the contrary, unless said law expressly provides that it is superseding the provisions contained herein.

SECTION 25.  This act, being necessary for the welfare of the town and its inhabitants, shall be liberally construed to effect the purposes hereof.

SECTION 26.  This act shall take effect upon its passage.