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, as follows:
Notwithstanding any general or special law to the contrary, any debt issued by the city of Lawrence pursuant to a loan order passed by its city council to finance the costs of constructing, originally equipping and furnishing public schools placed on a priority list by the board of education is hereby validated, approved and confirmed in all respects, though it is in excess of the statutory debt limit imposed by section 10 of chapter 44 of the General Laws, and all debt issued by the city after the effective date of this act pursuant to any loan order passed by the city council of the city to finance costs of constructing, equipping, renovating, improving and furnishing these public school projects shall be outside of the statutory debt limit imposed by said section 10 of said chapter 44.