The regional school district shall incur debt in accordance with and as governed by G.L. c. 71 sec. 16 and any other applicable provisions of G.L. c. 71 and special laws relating thereto.
Each member town shall pay to the district its proportionate share of capital costs that consist of payments of principal of or interest on bonds or notes issued by the district not later than thirty days before the date on which each payment of such principal or interest is payable by the district, but not earlier than July 1 in any year.
Section VII. TRANSPORTATION
School transportation shall be provided by the regional school district and the cost thereof shall be apportioned among the member towns as an operating expense.
Section VIII. AMENDMENTS
This agreement may be amended from time to time in the manner hereinafter provided, but no such amendment shall be made which shall substantially impair the rights of the holders of any bonds or notes or other indebtedness of the district then outstanding, or the rights of the district to procure the means for payment thereof, provided that nothing in this section shall prevent the admission of a new town or towns to the district and the reapportionment accordingly of that part of the costs of land acquisition and construction represented by bonds or notes of the district or by bonds or other evidence of indebtedness of Templeton or Phillipston which were issued to finance capital expenses in connection with the schools specified in subsection III (b) hereof then outstanding and of interest thereon.
An amendment may be proposed by vote of the regional district school committee or by vote of any town meeting of any member town. Any such proposal for amendment shall be presented to the secretary of the regional district school committee who shall mail or deliver a notice in writing to the board of selectmen of each of the member towns that a proposal to amend this agreement has been received and shall enclose a copy of such proposal. The selectmen in each member town shall include in the warrant for the next annual or a special town meeting called for the purpose, an article stating the proposal or substance thereof. Such amendment shall take effect upon its acceptance by each of the member towns at such next annual or special town meeting.
Section IX. ADMISSION OF ADDITONAL TOWNS
By an amendment of this agreement adopted under and in accordance with Section VIII above, any other town or towns may be admitted to the regional school district upon adoption as therein provided of such amendment and upon acceptance by the town or towns seeking admission of the agreement as so amended and also upon compliance with such provisions of law as may be applicable and such terms as may be set forth in such amendment.