Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
SECTION 1. The town of Norfolk may incur debt, outside the limit of indebtedness prescribed in section 10 of chapter 44 of the General Laws, for the purpose of removing or causing to be removed poles, overhead wires and associated overhead structures used in connection with the provision of public utilities and which are located upon, along or across public ways within its business (B-1) district, as defined in the Norfolk zoning by-law, and replacing the same with underground facilities. Any debt incurred hereunder shall otherwise be subject to the provisions of said chapter 44.
SECTION 2. Any utility organized and existing under the laws of or doing business in the commonwealth and which maintains poles, overhead wires or associated overhead structures within the town of Norfolk, and in the town, subject to a majority vote of its town meeting, may enter into, and from time to time amend, a cooperation agreement whereby (a) the town shall appropriate by borrowing under section 1 of this act and expend a sum or sums of money to remove or cause to be removed any poles and overhead wires and associated overhead structures located within its business (B-1) district, and, if needed, for the continuation of such utility's service, to replace the same or cause them to be replaced with underground facilities, and (b) the utility shall pay to the town in each calendar year for a period of years specified in such agreement an amount which shall be equal to 2 per cent of such utility's gross revenue derived during the next prior calendar year from its customers within the town but the total amount paid by the utility to the town over the term of the agreement shall not exceed the town's principal, interest, and costs associated with such borrowing.
SECTION 3. Any utility shall impose and collect a surcharge of 2 per cent on its total billing to each customer located in the town of Norfolk in addition to all other rates, charges and fees it may otherwise be authorized to impose and collect, as a contribution towards the cost of funding any agreement entered into by the utility and the town pursuant to this act.
SECTION 4. Any utility which enters into an agreement with the town of Norfolk pursuant to this act shall be exempt from any by-law adopted by the town under section 22D of chapter 166 of the General Laws for so long as such agreement remains in effect.
SECTION 5. This act shall take effect upon its passage.