AN ACT INCREASING THE AMOUNT OF MONEY THAT MAY BE BORROWED BY THE THORNDIKE FIRE AND WATER DISTRICT IN THE TOWN OF PALMER AND TO EXTEND THE TIME LIMIT WITHIN WHICH SUCH LOANS SHALL BE PAYABLE.
Be it enacted by the Senate and House of Representatives
in General Court assembled, and by the authority of the same,
SECTION 1. Chapter 320 of the acts of 1946 is hereby amended by
striking out section 4, as amended by section 1 of chapter 438 of the acts
of 1949, and inserting in place thereof the following section:-
Section 4. For the purpose of paying the necessary expenses and
incurred under this act, other than expenses of maintenance and operation, the
district, notwithstanding the provisions of section ten of chapter forty-four
of the General Laws, may borrow from time to time such sums as may be
necessary, not exceeding, in the aggregate, two million dollars, and may issue
bonds or notes therefor, which shall bear on their face the words, Thorndike
Fire and Water District Loan, Act of 1946. Each authorized issue shall
constitute a separate loan, and such loans shall be payable in not more than
forty years from their dates. Indebtedness incurred under this act shall be
subject to the provisions of chapter forty-four of the General Laws pertaining
to such districts.
SECTION 2. This act shall take effect upon its passage.