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 Hull, acting by and through its board of selectmen, may, subject to paragraphs (a), (b) and (g) of section 16 of chapter 30B of the General Laws, and on such terms and conditions as the town deems to be in the town's best interests in keeping with said paragraphs (a), (b) and (g) of said section 16 of said chapter 30B, extend the leases of the current lessees or their heirs, assigns and successors of portions of Nantasket Pier and the abutting shore land for periods of not more than 25 years for use as a marine or pier facility, including commercial activities incidental and related to such use and necessary in order to achieve the primary public objectives of the town to use such property as a marine or pier facility. A lessee of this property shall not sublease the property, or any portion thereof, or any improvements thereto, without the prior written approval of the board of selectmen of said town.
SECTION 2. The town of Hull may borrow funds, for a term not to exceed 30 years, to construct a marine or pier facility at Nantasket Pier in the town.
SECTION 3. Any further disposition of the marine or pier facility described in section 1, or any portion thereof or improvement thereto, shall be subject to section 16 of chapter 30B of the General Laws.