AN ACT EXEMPTING DEBT OF THE CITY OF LAWRENCE FOR CERTAIN APPROVED SCHOOL PROJECTS FROM THE STATUTORY LIMIT.
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, the debt issued by the city of Lawrence pursuant to a loan
order passed by its city council on December 21, 1999 to finance the costs of
constructing 3 new elementary schools approved for state school construction
grants by the board of education on September 26, 2000 pursuant to
section 329 of chapter 159 of the acts of 2000 is hereby validated, approved
and confirmed in all respects, though it is in excess of the statutory debt
imposed by section 10 of chapter 44 of the General Laws. All debt issued
by said city after the effective date of this act pursuant to this loan order
or pursuant to any other loan order passed by the city council to
finance costs of constructing these approved elementary school projects shall
outside the statutory debt limit imposed by said section 10 of
said chapter 44.
This act shall take effect upon its passage.