AN ACT RELATIVE TO THE ISSUANCE OF CERTAIN BONDS BY THE TOWN OF EAST LONGMEADOW.
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. Notwithstanding any general or special law to the contrary, the town of East Longmeadow may borrow without any further action or vote at a town meeting, from time to time such sums of money as may be necessary, not to exceed an aggregate amount of $1,400,000 for the purpose of reimbursing the general fund of the town for advances made from the general fund in the amount of $1,400,000 for the purchase of 8 modular classrooms. Each authorized issue shall constitute a separate loan and each such loan shall be payable within 15 years from its date. Indebtedness incurred under this act shall be included in determining the limit of indebtedness of the town under section 10 of chapter 44 of the General Laws and, except as provided herein, shall otherwise be subject to said chapter 44.
SECTION 2. This act shall take effect upon its passage.