Be it enacted by the Senate and House of Representatives
in General Court assembled, and by the authority of the same,
SECTION 1. Notwithstanding the provisions of sections seventeen and seventeen A of chapter forty-four of the General Laws or any other general or special law to the contrary, the city of Lawrence is hereby authorized to refund temporary loans for financing the costs of the North Elementary School project by the issuance of notes; provided, however, that the period from the date of issue of the original loan to the date of maturity of the refunding loan shall not exceed three years; and provided, further, that notes so issued may be converted to a serial loan in the same principal amount.
SECTION 2. This act shall take effect upon its passage.