Whereas , The deferred operation of this act would tend to defeat its purpose, which is to permit forthwith the Massachusetts Industrial Finance Agency to issue bonds for the benefit of the Essex County Gas Company, therefore it is hereby declared to be an emergency law, necessary for the immediate preservation of the public convenience.

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:

Notwithstanding the provisions of any general or special law to the contrary relating to the issuance of bonds by the Massachusetts Industrial Finance Agency, and without application of the findings otherwise required by clauses (e) and (k) of subsection 2 of section 12 of chapter 40D of the General Laws, the Massachusetts Industrial Finance Agency may issue bonds to finance capital expenditures incurred in connection with the furnishing of gas and related activities for the benefit of the Essex County Gas Company. Any property resulting from such capital expenditures shall constitute an industrial development facility within the meaning of subsection (m) of section 1 of said chapter 40D.