AN ACT INCREASING THE BORROWING AUTHORITY OF THE RING'S ISLAND WATER DISTRICT OF SALISBURY.
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. Section 4 of chapter 298 of the acts of 1936 is hereby amended by striking out the first sentence and inserting in place thereof the following sentence:- For the purpose of paying the necessary expenses and liabilities incurred under this act, other than expenses of maintenance and operation, the district may borrow from time to time such sums as may be necessary, not exceeding, in the aggregate, $1,200,000, and may issue bonds or notes therefor, which shall bear on their face the words, Ring's Island Water District of Salisbury Loan, Act of 1936.
SECTION 2. This act shall take effect upon its passage.