Be it enacted by the Senate and House of Representatives
in General Court assembled, and by the authority of the same,
SECTION 1. The county commissioners of the county of Dukes County are hereby authorized to spend such sums as may be necessary, not to exceed eight hundred thousand dollars for the renovation of and improvements to certain buildings in the town of Oak Bluffs for the purposes of providing adequate space for the Martha's Vineyard Commission and for the county administration.
SECTION 2. For the purposes authorized by section one, the treasurer of said county, with the approval of the county commissioners, may borrow upon the credit of the county, such sums as may be necessary, not exceeding in the aggregate eight hundred thousand dollars and may issue bonds or notes of the county thereof, which shall bear on their face, the words, Dukes County Improvements Loan.
Each authorized issue shall constitute a separate loan and each such loan shall be payable in not more than ten years from its date of issue. Said bonds or notes shall be signed by the county treasurer and countersigned by a majority of the county commissioners. The county may sell said securities at public sale, upon such terms and conditions as the county commissioners may deem proper, but not for less than their par value. Indebtedness incurred hereunder shall, except as herein provided, be subject to the provisions of chapter thirty-five of the General Laws.
SECTION 3. This act shall take effect upon its passage.