House Bill 1435 amends Chapter 167 of the Private Acts of 1994, specifically updating the election process for the Town of Oakland's Board of Mayor and Aldermen. The bill establishes that non-partisan elections will occur on the first Tuesday after the first Monday in November of every even-numbered year, with terms beginning on the first business day of the following month after election results are certified. It also introduces a system for designating aldermanic positions, allowing candidates to select their desired position, and outlines a staggered election schedule for the positions. Additionally, if the Town's population reaches 18,000 or more, the Board may increase the number of aldermen to six by ordinance.

The bill further modifies the compensation structure for the Mayor and Aldermen, stating that their salaries cannot be changed during their term and that newly elected officials will begin receiving compensation the month following their election. It ensures that no incumbent will be removed from office or have their term abridged, and it requires a two-thirds vote from the Town's legislative body for the bill to take effect. The act will be effective upon approval, with provisions for public welfare taking immediate effect.