Be it enacted by the Senate and House of Representatives
in General Court assembled, and by the authority of the same,
Section 5B of chapter 40 of the General Laws, as appearing in the 1984 Official Edition, is hereby amended by striking out the third paragraph and inserting in place thereof the following paragraph:-
The stabilization fund may be appropriated in a town, at an annual town meeting by a two-thirds vote or at a special town meeting by a two-thirds vote; in a district, at an annual district meeting by a two-thirds vote or at a special district meeting by a two-thirds vote; and in a city, by a two-thirds vote of the city council. Said fund may be appropriated for any purpose for which the town, district or city would be authorized to borrow money under section seven or eight of chapter forty-four or for such other municipal purpose as is approved by said emergency finance board. Said board, in addition to the powers and duties otherwise conferred or imposed upon it, is authorized to perform the further duties imposed by this section. Notwithstanding the foregoing, the stabilization fund may be appropriated for an approved school project by a two-thirds vote at a special town meeting, as provided by section nine of chapter six hundred and forty-five of the acts of nineteen hundred and forty-eight.