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HOUSE DOCKET, NO. 2074         FILED ON: 1/17/2013

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 998

 

The Commonwealth of Massachusetts

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PRESENTED BY:

Martin J. Walsh

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To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
              Court assembled:

              The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:

An Act relative to municipal industrial financing authorities.

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PETITION OF:

 

Name:

District/Address:

Martin J. Walsh

13th Suffolk

Thomas M. Menino

Boston City Hall

Carlo Basile

1st Suffolk


HOUSE DOCKET, NO. 2074        FILED ON: 1/17/2013

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 998

By Mr. Walsh of Boston, a petition (accompanied by bill, House, No. 998) of Martin J. Walsh, Thomas M. Menino and Carlo Basile relative to bonds between municipalities and a corporate trustee.  Financial Services. 


The Commonwealth of Massachusetts
 

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In the Year Two Thousand Thirteen

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An Act relative to municipal industrial financing authorities.
 

              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.               Section 9 of chapter 40D of the General Laws, is hereby amended by striking out in line 4 after the word “chapter”, the word “shall”, and inserting in place thereof the following word:- may

SECTION 2.              Section 9 of chapter 40D of the General Laws, as so appearing, is hereby amended by inserting after the last sentence the following:-

Notwithstanding the foregoing, any bonds issued under the provisions of this chapter may be secured by a loan agreement, in place of a trust agreement, by and between the issuing municipality acting by and through an industrial development financing authority and a financial institution.

SECTION 3. Section 1 of chapter 40D of the General Laws, as so appearing, is hereby amended by inserting in the eighth sentence in clause (1) after the word “guests” the following:- and low or moderate income housing as defined in section 20 of chapter 40B.

SECTION 4. Section 7 of chapter 40D of the General Laws, as so appearing, is hereby amended by inserting after clause (ix) the following clause:- (x) to issue bonds for low and moderate income rental housing.

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