AN ACT RELATIVE TO THE SWANSEA WATER DISTRICT.
Be it enacted by the Senate and House of Representatives
in General Court assembled, and by the authority of the same,
Chapter 137 of the acts of 1949 is hereby amended by striking out section 4
and inserting in place thereof the following section:-
For the purpose of paying the necessary expenses and
liabilities incurred under the provisions of this act, other than expenses of
maintenance and operation, the district may borrow from time to time such sums
as may be necessary, not exceeding in the aggregate $10,000,000 and may issue
bonds or notes thereof, which shall bear on their face the words, Swansea
Water District Loan, Act of 1949. Each authorized issue shall constitute a
separate loan, and such loans shall be payable in not more than 30 years from
their dates. Indebtedness incurred under this act shall be subject to the
provisions of chapter 44 of the General Laws pertaining to such districts.