HOUSE DOCKET, NO. 5101        FILED ON: 8/15/2018

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 4891

The Commonwealth of Massachusetts

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August 15, 2018

To the Honorable Senate and House of Representatives,

I am hereby filing for your consideration the attached legislation recommending terms for certain bonds authorized in section 77 of Chapter 209 of the Acts of 2018, entitled, An Act Promoting Climate Change Adaptation, Environmental and Natural Resource Protection, and Investment in Recreational Assets and Opportunity. Pursuant to Section 3 of Article LXII of the Amendments to the Constitution of The Commonwealth of Massachusetts, I recommend that the bonds that the State Treasurer is authorized to issue pursuant to section 77 of Chapter 209 of the Acts of 2018, shall be issued for terms not to exceed thirty years from the date of issuance thereof; provided, however, that all such bonds shall be payable not later than June 30, 2053.

I have filed the terms for the bonds authorized in section 77 separately from the other terms contained in Chapter 209 because the bonds are for projects on the interstate and non-interstate federal highway system.   I am grateful for the Legislature’s recognition and responsiveness in including this provision; however, this bill is necessary in order to ensure that state highway projects may continue uninterrupted.  For that reason, I respectfully request swift action on this bill.

Respectfully submitted

Charles D. Baker,

Governor

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 4891

The Commonwealth of Massachusetts

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In the One Hundred and Ninetieth General Court
(2017-2018)

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An Act providing for the terms of certain bonds for transportation improvements to be issued by the commonwealth..

Whereas, The deferred operation of this act would tend to defeat its purpose, which is to facilitate forthwith the issuance of certain bonds for the immediate transportation 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:
 

Notwithstanding any general or special law to the contrary, the bonds that the state treasurer may issue pursuant to section 77 of chapter 209 of the acts of 2018 shall be issued for a term not to exceed 30 years. All such bonds shall be payable not later than June 30, 2053, as recommended by the governor in a message to the general court dated August 15, 2018 under section 3 of Article LXII of the Amendments to the Constitution.