AN ACT PROVIDING THE TERMS OF CERTAIN BONDS AND NOTES TO BE ISSUED BY THE COMMONWEALTH PROVIDING THE TERMS OF CERTAIN BONDS AND NOTES TO BE ISSUED BY THE COMMONWEALTH.
Whereas, The deferred operation of this act would tend to defeat its purpose, which is to provide forthwith for the immediate capital improvement needs of the commonwealth, therefore it is hereby declared to be an emergency law, necessary for the immediate preservation of the public convenience.
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. Section 1 of chapter 298 of the acts of 2000 is hereby amended by striking out, in lines 4 and 5, the words “. All such bonds shall be payable not later than June 30, 2035”.
SECTION 2. Section 19 of said chapter 298 of the acts of 2000 is hereby amended by striking out, in lines 5 and 6, the words “. All such notes shall be payable not later than June 30, 2010”.
SECTION 3. Notwithstanding any general or special law to the contrary, the bonds which the state treasurer may issue under section 5 of chapter 4 of the acts of 2005 shall be issued for a term not to exceed 20 years as recommended by the governor in a message to the general court dated June 2, 2008 under section 3 of Article LXII of the Amendments to the Constitution.
SECTION 4. Notwithstanding any general or special law to the contrary, the bonds which the state treasurer may issue under section 10 of chapter 119 of the acts of 2008 shall be issued for a term not to exceed 30 years as recommended by the governor in a message to the general court dated June 2, 2008 under section 3 of Article LXII of the Amendments to the Constitution.
Approved September 9, 2008