AN ACT AUTHORIZING THE COUNTY COMMISSIONERS OF BARNSTABLE COUNTY TO DEVELOP A NURSING HOME ON THE GROUNDS OF THE BARNSTABLE COUNTY HOSPITAL.
Be it enacted by the Senate and House of Representatives
in General Court assembled, and by the authority of the same,
SECTION 1. The county commissioners of Barnstable county are
hereby authorized to
expend a sum not to exceed five million dollars for the development of a
nursing home on the grounds of the Barnstable county hospital.
SECTION 2. For the purposes aforesaid, the treasurer of Barnstable
county, with the
approval of the county commissioners and county advisory board approval
thereof, may borrow upon the credit of the county such sums as may be
necessary, not exceeding, in the aggregate, five million dollars and may
issue bonds or notes of the county therefor, which shall bear on their face
the words, Barnstable County Nursing Home, Act of 1985. Each authorized
issue shall constitute a separate loan and such loans shall be payable in
not more than twenty years from their dates. The bonds or notes shall be
signed by the county treasurer and countersigned by a majority of the
county commissioners. The county may sell the said securities at public or
private sale, upon such terms and conditions as the county commissioners
deem proper, but not for less than their par value. Indebtedness incurred
hereunder shall, except as herein provided, be subject to chapter
thirty-five of the General Laws.
SECTION 3. The county treasurer, with the approval of the county
county advisory board, may issue temporary notes of the county, payable in
not more than one year from their date, in anticipation of the issue of
serial bonds or notes under this act, but the time within which such serial
bonds or notes shall become due and payable shall not, by reason of
such temporary notes, be extended beyond the time fixed by this act. Any
notes issued in anticipation of the serial bonds or notes shall be paid
from the proceeds thereof.