Chapter 320 of the acts of 1946 is hereby amended by striking out section 4, as amended by chapter 24 of the acts of 1992, and inserting in place thereof the following section:-

Section 4. For the purpose of paying the necessary expenses and liabilities incurred under this act, other than expenses of maintenance and operation, the district, notwithstanding the provisions of section 10 of chapter 44 of the General Laws, may borrow from time to time such sums as may be necessary, not exceeding, in the aggregate, $3,000,000, and may issue bonds or notes therefor, which shall bear on their face the words, Thorndike Fire and Water District Loan, Act of 1946. Each authorized issue shall constitute a separate loan, and such loans shall be payable in not more than 40 years from their dates. Indebtedness incurred under this act shall be subject to the provisions of said chapter 44 pertaining to such districts.