AN ACT RELATIVE TO THE FINANCING OF CERTAIN PAYMENTS BY THE CITY OF WOBURN.
Be it enacted by the Senate and House of Representatives
in General Court assembled, and by the authority of the same,
SECTION 1. The treasurer of the city of Woburn, with the approval of
the mayor, is hereby authorized to borrow at one time or from time to time such
sums of money as may be necessary, not to exceed an aggregate amount of one
million one hundred and twenty-five thousand dollars, for the purpose of paying
any judgment rendered against said city in the case currently pending in the
United States District Court under Docket No. 95-12372 NG, and providing funds
to make any required or agreed to indemnification payments to, or on behalf of,
any city officials or employees with respect to any judgment rendered against
such officials or employees or any settlement agreed to by said city with
respect to the case currently pending in, or on appeal from, the Middlesex
division of the superior court department of the trial court of the
commonwealth under Docket No. 93-6797, and providing funds to make any
settlement payments agreed to by said city with respect to such lawsuits.
Notwithstanding the provisions of clause (11) of section seven of chapter
forty-four of the General Laws or any other general or special law to the
contrary, no further action by said city council shall be needed with respect
to any such borrowing, each issue shall constitute a separate loan, each loan
shall be payable within ten years from its date and indebtedness incurred under
this act shall be included in determining the limit of indebtedness of said
city under section ten of said chapter forty-four but, except as provided
herein, shall otherwise be subject to the provisions of said chapter
forty-four. Proceeds of any such borrowing may be expended without further
authorization or appropriation by said city.
SECTION 2. This act shall take effect upon its passage.