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To authorize and provide for recognition of fire and police service employee associations and collective bargaining for firefighters and policemen employed by cities, towns, and other political subdivisions of the state; to provide that firefighters and policemen shall receive compensation and other conditions comparable to private sector employees; to provide for impasse procedures and voluntary mediation; to provide for voluntary arbitration as one alternative to strikes and lockouts for settlement of disputes affecting firefighters and policemen; to prohibit strikes and lockouts of firefighters and policemen; to prescribe standards to govern collective bargaining and arbitration under the Act; providing for adoption of the Act by local option elections; to require compliance with collective bargaining agreements and awards of boards of arbitration under the Act; to provide for judicial enforcement of the Act; to make related provisions designed to effectuate the purposes of the Act; to provide for declaration of policy, liberal construction, definitions of certain terms, severability, and precedence over contrary laws; and declaring an emergency.