Section 1: The fourth sentence of section 6 of chapter 86 of the acts of 1911, as most recently amended by section 1 of chapter 583 of the acts of 1981, is hereby further amended by striking out the words “ten per cent per annum”, both times they appear, and inserting in place thereof, in each instance, the following words:- 5 per cent per annum or, at the election of the town, at a rate equal to 2 per cent above the rate of interest chargeable to the town for the betterment project to which the assessment relates.
Section 2: Section 7 of said chapter 86, as amended by section 2 of chapter 583 of the acts of 1981, is hereby further amended by striking out, in line 10, the words “ten percent per annum”, and inserting in place thereof the following words:- 5 per cent per annum or, at the election of the town, at a rate equal to 2 per cent above the rate of interest chargeable to the town for the betterment project to which the assessment relates.
Section 3: This act shall take effect upon its passage.
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