Be it enacted by the Senate and House of Representatives
in General Court assembled, and by the authority of the same,
SECTION 1. To provide for the purpose of disaster relief, to meet the expenses of restoring and providing police, fire, public works and other public services destroyed or damaged by civil disturbances in the city of Lawrence, and to make needed infrastructure repairs or improvements to avert future disorders, the sum of one million dollars is hereby made available for transfer by the commissioner of administration to the mayor of said city; provided, that said commissioner shall transfer said amount to the mayor of said city for said purposes after the development of a plan for expending said amount by said mayor and the approval of said plan by said commissioner; and provided, further, that said plan shall be developed within forty-five days of the effective date of this act.
SECTION 2. To provide for the purpose of improving housing conditions in the city of Lawrence, the sum of one million dollars is hereby made available for transfer by the secretary of communities and development to the Lawrence housing authority; provided, that said secretary shall transfer said amount to said housing authority for said purposes upon the development of a plan by said housing authority and approval of said plan by said secretary; provided that said plan shall be developed within forty-five days of the effective date of this act; and provided that said monies may only be spent for the improvement of state or federal family housing projects, including purchase of land to reduce density and for the construction and operation of recreational facilities within such housing projects.
SECTION 3. The state treasurer may borrow from time to time on the credit of the commonwealth such sums of money as may be necessary for the purpose of meeting payments authorized by sections one and two of this act, and may issue and renew from time to time notes of the commonwealth therefor, bearing interest payable at such times and at such rates as shall be fixed by the state treasurer. Such notes shall be issued and may be renewed one or more times for such terms, not exceeding one year, as the governor may recommend to the general court in accordance with Section 3 of Article LXII of the Amendments to the Constitution of the Commonwealth, but the final maturities of such notes, whether original or renewal, shall not be later than June thirtieth, nineteen hundred and ninety-nine.
SECTION 4. To meet the expenditures in carrying out the provisions of section two of this act, the state treasurer shall, upon request of the governor, issue and sell bonds of the commonwealth to an amount to be specified by the governor from time to time.
All bonds issued by the commonwealth, as aforesaid, shall be designated on their face, City of Lawrence Disaster Relief Loan, Act of 1984, and shall be issued for such maximum term of years, not exceeding ten years, as the governor may recommend to the general court pursuant to Section 3 of Article LXII of the Amendments to the Constitution of the Commonwealth, provided, however, that all bonds shall be payable not later than June thirtieth, nineteen hundred and ninety-four. All interest and payments on account of principal of such obligations shall be payable from the General Fund.
Bonds and interest thereon issued under the authority of this section shall, notwithstanding any other provisions of this act, be general obligations of the commonwealth.