Be it enacted by the Senate and House of Representatives
in General Court assembled, and by the authority of the same,
SECTION 1. The town of Andover is hereby authorized to appropriate money and receive gifts and grants and to acquire, sell or otherwise dispose of land or any portions of such land, at a location or locations to be selected by said town for the purpose of providing housing for persons or families of low and moderate income.
SECTION 2. The votes adopted by the town of Andover under articles sixty-five and sixty-six of the warrant for its annual town meeting held on April eighth, nineteen hundred and eighty-seven, relating to the provision of such housing and appropriating the aggregate sum of eight million three hundred thousand dollars for the acquisition of certain land therefor are hereby validated, ratified and confirmed.
SECTION 3. Any notes issued by the town of Andover in anticipation of the bonds or notes authorized by said town pursuant to the votes described in section two may be issued for terms in excess of two years, but not to exceed five years.
SECTION 4. This act shall take effect upon its passage.