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  • Acts
  • 1997
  • Chapter 27 AN ACT RELATIVE TO THE TERMS OF CERTAIN BONDS AND NOTES TO BE ISSUED BY THE COMMONWEALTH.

Whereas , The deferred operation of this act would tend to defeat its purpose, which immediately is to facilitate the issuance of bonds and notes to carry out the purposes of various acts passed by the general court, therefore it is hereby declared to be an emergency law, necessary for the immediate preservation of the public convenience.


Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:


SECTION 1. Notwithstanding any provision of law to the contrary, the bonds which the state treasurer is authorized to issue under sections 3 and 7 of chapter 11 of the acts of 1997 shall be issued for a term not to exceed 20 years; provided, however, that all such bonds shall be payable by June 30, 2022, as recommended by the governor in a message to the general court dated May 16, 1997, in pursuance of Section 3 of Article LXII of the Amendments to the Constitution of the Commonwealth.

SECTION 2. Notwithstanding any provision of law to the contrary, the notes which the state treasurer is authorized to issue under sections 4 and 15 of chapter 11 of the acts of 1997 shall be issued and may be renewed one or more times not exceeding one year and the final maturities of such notes, whether original or renewal, shall be not later than June 30, 2004, as recommended by the governor in a message to the general court dated May 16, 1997, in pursuance of Section 3 of Article LXII of the Amendments to the Constitution of the Commonwealth.

SECTION 3. Notwithstanding any provision of law to the contrary, the bonds which the state treasurer is authorized to issue under section 5 of chapter 11 of the acts of 1997 shall be issued for a term not to exceed 20 years; provided, however, that all such bonds shall be payable by June 30, 2027, as recommended by the governor in a message to the general court dated May 16, 1997, in pursuance of Section 3 of Article LXII of the Amendments to the Constitution of the Commonwealth.

SECTION 4. Notwithstanding any provision of law to the contrary, the notes which the state treasurer is authorized to issue under sections 6 and 8 of chapter 11 of the acts of 1997 shall be issued and may be renewed one or more times for a term not to exceed one year and the final maturities of such notes, whether original or renewal, shall be not later than June 30, 2004, as recommended by the governor in a message to the general court dated May 16, 1997, in pursuance of Section 3 of Article LXII of the Amendments to the Constitution of the Commonwealth.

SECTION 5. Notwithstanding any provision of law to the contrary, the notes which the state treasurer is authorized to issue under section 9 of chapter 11 of the acts of 1997 shall be issued and may be renewed one or more times for a term not to exceed five years and the final maturities of such notes, whether original or renewal, shall be not later than June 30, 2007, as recommended by the governor in a message to the general court dated May 16, 1997, in pursuance of Section 3 of Article LXII of the Amendments to the Constitution of the Commonwealth.

SECTION 6. Notwithstanding any provision of law to the contrary, the bonds which the state treasurer is authorized to issue under section 14 of chapter 11 of the acts of 1997 shall be issued for a term not to exceed ten years; provided, however, that all such bonds shall be payable by June 30, 2012, as recommended by the governor in a message to the general court dated May 16, 1997, in pursuance of Section 3 of Article LXII of the Amendments to the Constitution of the Commonwealth.

Approved June 24, 1997.