HOUSE DOCKET, NO. 4351 FILED ON: 6/29/2014
HOUSE . . . . . . . . . . . . . . . No. 4241
The Commonwealth of Massachusetts
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| Office of the Governor Commonwealth of Massachusetts · , MA (617) 725-4000 | |
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June 29, 2014
To the Honorable Senate and House of Representatives,
Pursuant to Article LXII, Section 3 of the Amendments to the Constitution, I recommend that the bonds that the State Treasurer may issue pursuant to Section 77 of Chapter 238 of the Acts of 2012 shall be issued for a term not to exceed 30 years, and that all such bonds shall be payable not later than June 30, 2047.
Accordingly, I am filing for your consideration a bill entitled “An Act providing the terms of certain bonds for economic growth in the Commonwealth.”
G.L. c. 29, § 49 prohibits the issuance of bonds until enactment of legislation establishing their terms. I urge your prompt enactment of this legislation.
Respectfully submitted,
Deval L. Patrick,
Governor
HOUSE . . . . . . . . . . . . . . . No. 4241
Message from His Excellency the Governor recommending legislation relative to providing the terms of certain bonds for economic growth in the Commonwealth. |
The Commonwealth of Massachusetts
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In the Year Two Thousand Fourteen
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An Act providing the terms of certain bonds to be issued by the commonwealth to stimulate economic growth.
Whereas, The deferred operation of this act would tend to defeat its purpose, which is to facilitate forthwith the issuance of certain bonds to stimulate economic growth 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:
SECTION 1. Notwithstanding any general or special law to the contrary, the bonds that the state treasurer may issue pursuant to section 77 of chapter 238 of the acts of 2012 shall be issued for a term not to exceed 30 years. All such bonds shall be payable not later than June 30, 2047, as recommended by the governor in a message to the general court dated June 26, 2014 under section 3 of Article LXII of the Amendments to the Constitution.