SECTION 1. (a) Notwithstanding the provisions of any general or special law to the contrary, the city of Fall River, with the approval of the mayor and city council, may enter into a contract or contracts for the acquisition, purchase, lease, sale, disposition or exchange of certain parcels of real property necessary for the demolition, relocation, reconstruction or construction of a water storage facility at Airport road to ensure adequate services and to ensure the ability of the city's publically owned water works system to operate in full compliance with all applicable requirements of federal, state and local law; provided, however, that any such contract for the acquisition, purchase, lease, sale, disposition or exchange of certain parcels of real property shall not be subject to section 16 of chapter 30B of the General Laws.

(b) The terms of the contract or contracts for the acquisition, purchase, lease, sale, disposition or exchange of certain parcels of real property necessary for the demolition, relocation, reconstruction or construction of a water storage facility shall be included in a written purchase and sale agreement and shall set forth all material terms of the acquisition, purchase, lease, sale, disposition or exchange of certain parcels of real property.

(c) A contract entered into pursuant to this section may provide for such activities as may be deemed necessary to carry out the purposes authorized herein, including the execution of any covenants, restrictions, easements, deeds, releases or other documents or instruments, whether required by law to be recorded or remain unrecorded, to ensure the timely and effective acquisition, purchase, lease, sale, disposition or exchange of certain parcels of real property more particularly described above.

SECTION 2. Any contract awarded pursuant to this act shall be subject to such terms and conditions as the city of Fall River shall determine to be in the best interests of the city and shall be subject to a majority vote of the city council and approval of the mayor. Any such contract shall provide that prior to the acquisition, purchase, lease, sale, disposition or exchange of certain parcels of real property the city shall cause an independent, licensed, real estate appraiser to conduct an appraisal of all properties subject to the contracts entered into pursuant to this act, and the original appraisal report shall be submitted to the mayor and council contemporaneous with the submission of the contract or contracts for approval.

SECTION 3. This act shall take effect upon its passage.