HOUSE DOCKET, NO. 4189        FILED ON: 3/24/2014

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 3982

The Commonwealth of Massachusetts

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March 24, 2014

To the Honorable Senate and House of Representatives,

Pursuant to Article LXII, Section 3 of the Constitution, I recommend that the bonds that the State Treasurer may issue pursuant to chapter 48 of the acts of 2014 shall be issued for a term not to exceed 30 years, and that all such bonds shall be payable not later than June 30, 2049.

Accordingly, I am filing for your consideration a bill entitled “An Act Providing the Terms of Certain Bonds Encouraging the Improvement, Expansion and Development of Military Installations in the Commonwealth.”

G.L. c. 29, § 49 prohibits the issuance of bonds until enactment of legislation establishing their terms.  In light of the urgent need to provide funding to encourage the improvement, expansion and development of military installations in the Commonwealth, I urge your prompt enactment of this legislation.

Respectfully submitted,

Deval L. Patrick,

Governor

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 3982

The Commonwealth of Massachusetts

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In the Year Two Thousand Fourteen

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An Act providing for the terms of certain bonds to be issued by the commonwealth for the improvement, expansion and development of military installations.

Whereas, The deferred operation of this act would tend to defeat its purpose, which is to facilitate forthwith the issuance of certain bonds encouraging the improvement, expansion and development of military installations in 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:
 

Notwithstanding any general or special law to the contrary, the bonds that the state treasurer may issue pursuant to chapter 48 of the acts of 2014 shall be issued for a term not to exceed 30 years. All such bonds shall be payable not later than June 30, 2049, as recommended by the governor in a message to the general court dated March 24, 2014 under section 3 of Article LXII of the Amendments to the Constitution.