Amendment #37 to H5150
Cherry Valley Sewer District bonds
Mr. LeBoeuf of Worcester moves to amend the bill by adding the following section:
“SECTION XXXX. (a) Notwithstanding any general or special law to the contrary, the Cherry Valley Sewer District may issue refunding bonds to refinance all or any part of its outstanding bonds as of the date of passage of this act, issued to the United States of America, or any department or agency thereof, even if the present value of the principal and interest payments due on the refunding bonds exceeds the present value of the principal and interest payments otherwise payable on the bonds to be refunded. Any such refunding bonds shall mature at such times, not exceeding 25 years, in such amounts and at such rate or rates of interest as the district’s sewer commissioners shall determine.
(b) This section shall take effect upon its passage.”