SECTION 1. Chapter 150E of the General Laws is hereby amended by striking paragraph 5 in section 9, and inserting the following:—
If the impasse continues after the publication of the fact-finding report, either party, or the parties acting jointly, may petition the board to initiate arbitration proceedings, the result of which shall be a final and binding decision. Upon receipt of such petition, the board shall appoint a panel of three arbitrators from a list of qualified persons. In the alternative, the parties may agree upon the arbitrators and then notify the board of such agreement and choice of arbitrators. The panel shall transmit its finding and is final and binding decision to the board and to both parties within thirty days after the date of its appointment.
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