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 Hingham for converting the Hingham Municipal Lighting Plant's power distribution system to a higher voltage, including but not limited to the three million dollar electric bonds approved under Article 13 of the warrant for the nineteen hundred and eighty-seven annual town meeting and the eight hundred thousand dollar electric bonds approved under Article 74 of the warrant for the nineteen hundred and eighty-six annual town meeting, shall be subject to the applicable provisions of chapter forty-four of the General Laws, except that (1) bonds or notes issued by the town for this purpose shall be payable within twenty years from their dates and (2) the maturities of those bonds or notes shall be arranged so that for each issue the 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.