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. The town of Holden, acting by and through its board of selectmen, may lease all or a portion of a certain school building, known as the Rice school property, located on Phillips and Woodlawn roads in the town and shown on the Holden Assessors' Map 147, Parcels 29, 147 and 148, to be used for educational purposes. The term of the lease shall be for not more than 99 years, and for such terms and conditions as the board of selectmen of the town deems appropriate, but subject to the limitations under sections 2 and 3.

SECTION 2. The lease authorized by section 1 shall provide that: any lessee must be exempt from taxation under the federal Internal Revenue Code; the property may only be used for educational purpose for pre-kindergarten through grade 8, including before and after school programs and summer programs; and the exterior of the wooden part of the Rice school building shall be preserved.

SECTION 3. Paragraphs (a), (b) and (g) of section 16 of chapter 30B of the General Laws shall apply to the lease authorized by section 1. The parcel described in section 1 may not be assigned to others, or sublet by any lessee, without the prior written approval of the board of selectmen. Any further disposition of the parcel, other than that authorized by this act, shall be subject to chapter 30B and section 3 of chapter 40 of the General Laws and any other applicable general law.

SECTION 4. This act shall take effect upon its passage