It is enacted by the General Assembly as follows:

SECTION 1. Section 11 of Chapter 28 of the Public Laws of 1974 entitled "An Act Authorizing Pascoag Fire District to Issue Bonds and Notes for the Purpose of Financing Capital Expenditures in Amounts Not Exceeding $1,000,000 Outstanding at Any One Time" is hereby amended to read as follows:

Sec. 11. Notwithstanding the foregoing provisions of this act, no bonds or notes shall be issued in excess of amounts approved from time to time by vote of a majority of the electors present and voting on the question at an annual or special district meeting ; provided, however, that no vote or other voter approval is required for any bonds or notes issued to finance any expenditures or contracts subject to the jurisdiction of the Rhode Island Public Utilities Commission or other regulatory agency.

A vote not to approve an amount of bonds hereunder shall not preclude any later vote to approve the same or a different amount.

SECTION 2. This act shall take effect upon passage.