AN ACT RELATIVE TO THE HILLCREST SEWER DISTRICT.
Be it enacted by the Senate and House of Representatives
in General Court assembled, and by the authority of the same,
Notwithstanding any general or special law to the
contrary, in addition to any other enabling authority, the Hillcrest Sewer
District may issue bonds and notes in order to pay interest
during construction and for up to 2 years after completion of its sewerage
system, and for the payment of all other expenses as may be necessary or
incidental to the construction of its sewerage system, the financing of such
sewerage system and the placing of such sewerage system in operation. The
maturities of any bonds or notes issued by the Hillcrest Sewer District may be
arranged so that for each issue the amounts payable in the several years for
principal and interest combined shall be as nearly equal as practicable in the
opinion of the officers authorized to issue the bonds or notes, or, in the
alternative, in accordance with a schedule providing for a more rapid
amortization of principal.
This act shall take effect upon its passage.