Be it enacted by the Senate and House of Representatives
in General Court assembled, and by the authority of the same,
SECTION 1. To provide for the discovery and clean-up of hazardous waste sites throughout the commonwealth, the sum set forth in section two is hereby appropriated, subject to the provisions of law regulating the disbursement of public funds and the conditions pertaining to appropriations in chapter two hundred and six of the acts of nineteen hundred and eighty-six.
`tm;keep=no `tcol=6,B4;c1=1,9,tu,T;c2=1,78,tuc;c3=1,78,tuc;c4=11,53,tfh1;c5=15,49,tu;c6=65,14,tur `tc3 EXECUTIVE OFFICE OF ENVIRONMENTAL AFFAIRS. `tc2 Division of Envirnomental Quality Engineering. `tch `tc1 `ts Item `t+1 `tch;end `tc1 2260-8870 `tc4 For the purpose of carrying out the actions authorized by section four of chapter twenty-one E of the General Laws; provided, however, that the amount appropriated herein shall not exceed the amounts credited to the Environmental Challenge Fund, established under the provisions of section two J of chapter twenty-nine of the General Laws; provided further, that none of the amounts appropriated herein shall be expended by said department except in accordance with detailed spending plans prepared by said department for each six-month period and submitted to and approved by the secretary of environmental affairs and the secretary of administration and finance; and, provided further, that this appropriation shall be available for expenditure through June thirtieth, nineteen hundred and eighty-nine; including not more than four hundred and sixty positions `tc6 $21,000,000 `tc5 Environmental Challenge Fund 100.0% `tcol;end `tm;keep=yes
SECTION 3. The department of environmental quality engineering is authorized and directed to expend a sum, not to exceed sixty million dollars, to be raised by the sale of notes and bonds authorized by sections four and five, for the purpose of carrying out the actions authorized by sections four and five of chapter twenty-one E of the General Laws. Funds provided by this act shall be in addition to any funds previously authorized for the purposes of section four of said chapter twenty-one E.
SECTION 4. The state treasurer may borrow from time to time on credit of the commonwealth such sums of money as may be necessary for the purposes of meeting payments authorized by section three of this act, and may issue and renew from time to time notes of the commonwealth therefor, bearing interest payable at such times and at such rates as shall be fixed by the state treasurer. Said notes may be issued and may be renewed one or more times for such terms, not exceeding one year, as the governor may recommend to the general court in accordance with the provisions of Section 3 of Article LXII of the Amendments to the Constitution of the Commonwealth, but the final maturities of such notes shall be not later than June thirtieth, nineteen hundred and ninety-seven.
SECTION 5. To meet the expenditures necessary in carrying out the provisions of section three of this act, the state treasurer, shall upon request of the governor, issue and sell bonds of the commonwealth, registered or with coupons attached, as he deems best, to an amount to be specified by the governor from time to time, but not exceeding, in the aggregate, the sum of sixty million dollars.
All bonds so issued by the commonwealth, as aforesaid, shall be designated on their face, Oil and Hazardous Material Response Loan, Act of 1987, and shall be issued for such maximum terms of years, not exceeding thirty-five years, as the governor may recommend to the general court pursuant to Section 3 of Article LXII of the Amendments to the Constitution of the Commonwealth; provided, however, that all such bonds shall be payable not later than June thirtieth, two thousand and twenty-two. All interest and payments on account of principal of such obligations shall be payable from the General Fund. Bonds and the interest thereon issued under the authority of this section, notwithstanding any other provisions of this act, shall be general obligations of the commonwealth. The initial maturities of such bonds shall be payable not later than one year from the date of issue thereof, and the entire issue not later than June thirtieth, two thousand and twenty-two.
SECTION 6. This act shall take effect upon its passage.