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November 23, 2024 Clouds | 42°F
The 193rd General Court of the Commonwealth of Massachusetts
  1. General Laws
  2. Part I ADMINISTRATION OF THE GOVERNMENT
  3. Title II EXECUTIVE AND ADMINISTRATIVE OFFICERS OF THE COMMONWEALTH
  4. Chapter 23G THE MASSACHUSETTS DEVELOPMENT FINANCE AGENCY
  5. Section 37 Monies credited to Government Land Bank Fund; reversion upon termination of agency

Section 37

Section 37: Monies credited to Government Land Bank Fund; reversion upon termination of agency

Section 37. Upon the termination of the Agency's existence, all monies credited to the Government Land Bank Fund shall, after payments, other than the interest on or the principal of any bonds and notes issued pursuant to this chapter, due on account of the Agency shall have been made, revert to the treasury of the commonwealth and shall be used solely toward meeting the debt service obligations of the General Fund.