SECTION 1. Notwithstanding any general or special law to the contrary, and in addition to the powers granted by chapter 260 of the acts of 2000, the town of Orleans may issue bonds or notes for a period of not more than 20 years for the purpose of creating or preserving affordable housing as defined in chapter 104 of the Orleans town code. Except as otherwise provided in this act, such bonds or notes shall be subject to chapter 44 of the General Laws.
SECTION 2. This act shall take effect upon its passage.