Session Laws

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:

SECTION 1. Chapter 516 of the acts of 1969 is hereby amended by striking out section 3, as amended by section 1 of chapter 492 of the acts of 1982, and inserting in place thereof the following two sections:-

Section 3. The cost of construction and other work authorized by this act shall not exceed the sum of one hundred and twenty million dollars, exclusive of interest on bonds and notes issued under the provisions of this act.

Section 3A. Notwithstanding the provisions of section three, if the board is required to construct additional treatment facilities and related works in order to comply with federal or state law requiring so-called secondary treatment including facilities planning, construction of a secondary treatment facility and construction of a residuals disposal facility, then the cost of construction and other work authorized by this act shall not exceed the sum of two hundred and ninety-five million dollars, exclusive of interest on bonds and notes issued under the provisions of this act.

SECTION 2. Said chapter 516 is hereby further amended by inserting after section 5A, inserted by section 2 of said chapter 492, the following two sections:-

Section 5B. To meet the cost of such additional construction and other works, including such interest, less the amount received for such purposes from the federal and state governments, and to fund temporary loans issued to meet such cost as hereinafter authorized, the treasurer of the South Essex Sewerage District, with the approval of the board, may issue serial bonds of the district to an amount not exceeding in the aggregate, the sum of ten million dollars. Said bonds shall bear on their face the words South Essex Sewerage District Loan, Act of 1989, shall bear the district seal, shall be authorized by vote of two-thirds of the board, shall bear such rate or rates of interest as shall be fixed by the treasurer with the approval of the board, shall be signed by the treasurer of said district and countersigned by at least a majority of the board, and shall be payable in not more than thirty years from their dates. Each issue of bonds herein authorized shall constitute a separate issue. Until such construction and other work is completed and the total cost thereof ascertained, to meet the cost of such construction and other work, said treasurer, with the approval of the board, may from time to time borrow for periods of not more than two years, and may refund or may renew said loans from time to time. The treasurer of said district in any year may also from time to time borrow to meet interest payments coming due in such year and to meet payments of principal on bonds issued hereunder when such payments must be met before the apportionment of costs for such year to the city or cities or town, or institutions responsible therefor, has been made as hereinafter provided, but the amounts of any such loans shall be added to and included in the next year's apportionment to said city or cities or town, or institutions of the cost of construction and other work hereunder, and the term of such loans shall not extend beyond the time limited for the making of such next year's apportionment. For any borrowings herein authorized, the treasurer of said district may from time to time issue notes of said district, which need not bear the district seal, but shall be authorized, signed and countersigned, and bear interest as is herein provided for in the case of bonds, or may be sold at a discount fixed in the same manner that interest on bonds may be fixed hereunder, and such discount shall be treated as interest paid in advance. All indebtedness incurred in carrying out the provisions of this act shall be subject to such of the applicable provisions of chapter forty-four of the General Laws as relate to loans made by districts.

Section 5C. To meet the cost of such additional construction and other works required to provide so-called secondary treatment including facilities planning, construction of a secondary treatment facility and construction of a residuals disposal facility, including such interest, less the amount received for such purposes from the federal and state governments, and to fund temporary loans issued to meet such cost as hereinafter authorized, the treasurer of the South Essex Sewerage District, with the approval of the board, may issue serial bonds of the district to an amount not exceeding in the aggregate, the sum of one hundred million dollars. Said bonds shall bear on their face the words South Essex Sewerage District Loan, Act of 1989, shall bear the district seal, shall be authorized by vote of two-thirds of the board, shall bear such rate or rates of interest as shall be fixed by the treasurer with the approval of the board, shall be signed by the treasurer of said district and countersigned by at least a majority of the board, and shall be payable in not more than thirty years from their dates. Each issue of bonds herein authorized shall constitute a separate issue. Until such construction and other work is completed and the total cost thereof ascertained, to meet the cost of such construction and other work, said treasurer, with the approval of the board, may from time to time borrow for periods of not more than two years, and may refund or may renew said loans from time to time. The treasurer of said district in any year may also from time to time borrow to meet interest payments coming due in such year and to meet payments of principal on bonds issued hereunder when such payments must be met before the apportionment of costs for such year to the city or cities or town, or institutions responsible therefor, has been made as hereinafter provided, but the amounts of any such loans shall be added to and included in the next year's apportionment to said city or cities or town, or institutions of the cost of construction and other work hereunder, and the term of such loans shall not extend beyond the time limited for the making of such next year's apportionment. For any borrowings herein authorized, the treasurer of said district may from time to time issue notes of said district, which need not bear the district seal, but shall be authorized, signed and countersigned, and bear interest as is herein provided for in the case of bonds, or may be sold at a discount fixed in the same manner that interest on bonds may be fixed hereunder, and such discount shall be treated as interest paid in advance. All indebtedness incurred in carrying out the provisions of this act shall be subject to such of the applicable provisions of chapter forty-four of the General Laws as relate to loans made by districts.

SECTION 3. This act shall take effect upon its passage.