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. Notwithstanding the provisions of any general or special law to the contrary, the North Shore Regional Vocational School District may issue bonds or notes, including temporary notes in anticipation of serial bonds or notes, to an amount not exceeding $4,270,000 pursuant to the vote adopted by the North Shore regional vocational school district committee on December 6, 1990 in order to refund to that extent its notes presently payable on July 3, 1997, or any notes issued to refund those notes. The first principal payment on account of such bonds or notes shall not be later than April 1, 1999 and the last such payment shall not be later than April 1, 2014. Except as otherwise provided herein, bonds and notes issued under this act shall be subject to the provisions of chapter 44 of the General Laws, exclusive of the second paragraph of section 21A of said chapter 44.

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