SENATE DOCKET, NO. 706        FILED ON: 1/13/2009

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 428

The Commonwealth of Massachusetts

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In the Year Two Thousand Nine

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An Act relative to the sewer rate relief fund..

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 2Z of Chapter 29 of the General Laws, as appearing in the 2006 Official Edition, is hereby amended by striking the words “No city, town, district, commission, agency, authority, board or other instrumentality of the commonwealth or any of its political subdivisions which is responsible for the ownership or operation of wastewater treatment projects and is authorized to finance all or any part of the cost thereof through the issuance of eligible indebtedness, in this section called an issuer, shall receive relief authorized by this section in excess of 20 per cent of its annual debt service obligations due to eligible indebtedness” in line 10 and inserting in place thereof the following:-

A city, town, district, commission, agency, authority, board or other instrumentality of the commonwealth or any of its political subdivisions which is responsible for the ownership or operation of wastewater treatment projects and is authorized to finance all or any part of the cost thereof through the issuance of eligible indebtedness, in this section called an issuer, shall receive relief authorized by this section at a rate of 20 per cent of its annual debt service obligations due to eligible indebtedness.