No town of this State may be a party to a library agreement which provides for the construction or maintenance of a library under Article III, subdivision (c-7) [section 23(c)7. of this title] of the compact, nor pledge its credit in support of such a library, or contribute to the capital financing thereof, except after compliance with any laws applicable to towns relating to or governing capital outlays and the pledging of credit. (Added 1963, No. 119, § 3, eff. May 28, 1963.)