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. Notwithstanding any provision of law to the contrary, the bonds which the state treasurer is authorized to issue under section three of chapter two hundred and eight of the acts of nineteen hundred and ninety-six, providing for the revitalization and development of the commonwealth's seaports, shall be issued for a term not to exceed twenty years; provided, however, that all such bonds shall be payable by June thirtieth, two thousand and twenty-one, as recommended by the governor in a message to the general court dated August seventh, nineteen hundred and ninety-six, in pursuance of Section 3 of Article LXII of the Amendments to the Constitution of the Commonwealth.

SECTION 2. Notwithstanding any provision of law to the contrary, the notes which the state treasurer is authorized to issue under section four of chapter two hundred and eight of the acts of nineteen hundred and ninety-six, providing for the revitalization and development of the commonwealth's seaports, shall be issued and may be renewed one or more times not exceeding one year; and the final maturities of such notes whether original or renewal, shall be no later than June thirtieth, two thousand and two, as recommended by the governor in a message to the general court dated August seventh, nineteen hundred and ninety-six, in pursuance of Section 3 of Article LXII of the Amendments to the Constitution of the Commonwealth.