It is enacted by the General Assembly as follows:

SECTION 1. Section 1 of Chapter 899 of the Public Laws of 1926 entitled "An Act Fixing the Time for the Holding of a Financial Town Meeting and for the Election of Town Officers in the Town of Hopkinton" is hereby amended to read as follows:

Section 1. The electors of the town of Hopkinton qualified to vote on any proposition to impose a tax or for the expenditure of money in said town, shall annually assemble in the Hope Valley school commencing in 1971 and each subsequent odd year and in the Ashaway school in 1972 and each subsequent even year in said town for the purpose of hearing official reports, ordering a tax or taxes, making appropriations and generally to do and transact all other business appertaining to the financial affairs of said town. Said financial town meeting shall be held between the first and fifteenth day of May, the day, date and time of said meeting to be set by the town council of said town and said meeting shall be warned and called and the lists of electors qualified to vote therein shall be made out and canvassed in the same manner as provided by law with respect to elective town meetings, provided, however, that commencing in the year 1991 and annually thereafter, said meeting shall be held on a date to be determined by the town council, but not later than forty-five (45) days after the adoption of the budget for the regional high school district established by chapter 55 of the public laws of 1958, provided, further, however, that commencing in the year 1995, and annually thereafter, said meeting shall be held on a date to be determined by the town council, but not later than seventy-five (75) days after the adoption of the budget for the regional high school district established by chapter 55 of the public laws of 1958.

Commencing in the year 1998, and annually thereafter, said meeting shall be held on a date and time to be determined by the town council but not later than June 30 of each year.

If after review by the town moderator and town clerk it is determined there is no indoor facility in the town large enough to accommodate the electors reasonably expected to attend the town meeting, then the town of Hopkinton may hold its town meeting at an indoor facility located a reasonable distance outside the town of Hopkinton.

Notice of the meeting shall be given pursuant to section 45-3-8 of this chapter.

SECTION 2. This act shall take effect upon passage.