Authorizing The Town Of Cumberland To Issue Not To Exceed $52,000,000 General Obligation Bonds, Notes And Other Evidences Of Indebtedness To Finance The Construction, Renovation, Improvement, Alteration, Repair, Furnishing And Equipping Of A New Elementary School And Other Related School Facilities And The Demolition Of An Existing Elementary School On Land Presently Occupied By The B.f. Norton School In The Town Provided That The Authorization Shall Be Reduced By Any Grant Received From The School Building Authority Capital Fund