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December 22, 2024 Clear | 16°F
The 193rd General Court of the Commonwealth of Massachusetts
  1. General Laws
  2. Part I ADMINISTRATION OF THE GOVERNMENT
  3. Title VII CITIES, TOWNS AND DISTRICTS
  4. Chapter 44 MUNICIPAL FINANCE
  5. Section 53B Contributions by commonwealth; application to indebtedness

Section 53B

Section 53B: Contributions by commonwealth; application to indebtedness

Section 53B. Any sums allotted and paid by the commonwealth to a city, town or district as a contribution towards the cost of a useful public works project, the state's share of the cost of which project was financed from the proceeds of a loan issued by such city, town or district, shall be applied towards the payment of such indebtedness.