HOUSE DOCKET, NO. 4306        FILED ON: 6/13/2019

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 3898

The Commonwealth of Massachusetts

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June 13, 2019

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 sections 3, 4 and 5 of Chapter 16 of the Acts of 2019, entitled, “An Act Financing Improvements to Municipal Roads and Bridges.”  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 sections 3, 4 and 5 of Chapter 16 of the Acts of 2019, 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, 2054.

I am grateful for the Legislature’s recognition and responsiveness in enacting the municipal roads and bridges legislation, and this bill is necessary to ensure that municipal projects may begin during construction season and current 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. 3898

The Commonwealth of Massachusetts

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In the One Hundred and Ninety-First General Court
(2019-2020)

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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:
 

SECTION 1. Notwithstanding any general or special law to the contrary, the bonds that the state treasurer may issue pursuant to section 3 of chapter 16 of the acts of 2019 shall be issued for a term not to exceed 30 years. All such bonds shall be payable not later than June 30, 2054, as recommended by the governor in a message to the general court dated June 13, 2019 under section 3 of Article LXII of the Amendments to the Constitution.

SECTION 2. Notwithstanding any general or special law to the contrary, the bonds that the state treasurer may issue pursuant to section 4 of chapter 16 of the acts of 2019 shall be issued for a term not to exceed 30 years. All such bonds shall be payable not later than June 30, 2054, as recommended by the governor in a message to the general court dated June 13, 2019 under section 3 of Article LXII of the Amendments to the Constitution.

SECTION 3. Notwithstanding any general or special law to the contrary, the bonds that the state treasurer may issue pursuant to section 5 of chapter 16 of the acts of 2019 shall be issued for a term not to exceed 30 years. All such bonds shall be payable not later than June 30, 2054, as recommended by the governor in a message to the general court dated June 13, 2019 under section 3 of Article LXII of the Amendments to the Constitution.