Be it enacted by the Senate and House of Representatives
in General Court assembled, and by the authority of the same,
SECTION 1. Any indebtedness incurred by the town of Palmer for the purpose described in Article 1 of the warrant for the June thirteenth, nineteen hundred and eighty-eight special town meeting, including constructing and originally equipping and furnishing a new elementary school and a new high school and remodeling the existing high school for use as an intermediate school, shall be subject to the applicable provisions of chapter six hundred and forty-five of the acts of nineteen hundred and forty-eight and chapter forty-four of the General Laws, except that the maturities of the bonds or notes issued by the town shall be arranged so that for each issue the annual combined payments of principal and interest shall be as nearly equal as practicable in the opinion of the town treasurer, or shall be arranged in accordance with a schedule providing for a more rapid amortization of principal.
SECTION 2. This act shall take effect upon its passage.