Session Laws

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. Any indebtedness incurred by the town of North Reading for acquiring the Hillview Country Club and for purchasing necessary equipment and furnishings therefor, including but not limited to the four million seven hundred thousand dollars gold course acquisition bonds approved under Article 1 of the warrant for the January nineteenth, nineteen hundred and eighty-eight special town meeting and the one hundred thousand dollars golf course equipment bonds approved under Article 2 of said warrant, shall be subject to the applicable provisions of chapter forty-four of the General Laws; provided, however, that the maturities of bonds or notes issued for these purposes shall be arranged so that for each issue the combined payments of principal and interest shall be as nearly equal as practicable in the opinion of the town treasurer, or shall be arranged in accordance with a schedule providing for a more rapid amortization of principal.

SECTION 2. This act shall take effect upon its passage.