Hotel Occupancy Tax

Mr. Tarr moved that the bill be amended in section 8 by striking subsection (c) in its entirety (lines 342-360) and inserting in place thereof the following:-

“(c) As additional security for bonds of the commonwealth issued under authority of this section, the convention center fund, and all amounts on deposit from time to time therein, are hereby pledged to the payment of such bonds and, if so determined by the state treasurer with the concurrence of the secretary of administration and finance, to the payment of bonds outstanding under section 11 of chapter 152 of the acts of 1997, subject to the application of such amounts as provided in subsection (c) of section 10 of said chapter 152 and the trust agreement for such bonds.”