Chapter 289

AN ACT MAKING APPROPRIATIONS FOR THE FISCAL YEAR 1998 TO PROVIDE FOR CERTAIN CAPITAL AND SUPPLEMENTAL APPROPRIATIONS.

Whereas , The deferred operation of this act would tend to defeat its purpose, which is forthwith to make appropriations for various capital improvements and other one time costs and to make certain changes in law, each of which is immediately necessary or appropriate to effectuate said appropriations or for other important public purposes, 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. To provide for certain unanticipated obligations of the commonwealth, to provide for an alteration of purpose for current appropriations and to meet certain requirements of law, the sums set forth herein are hereby appropriated from the Capital Improvement and Investment Trust Fund for the several purposes and subject to the conditions specified herein and subject to the provisions of law regulating the disbursement of public funds. Notwithstanding the provisions of any general or special law to the contrary, appropriations made in section 2 shall not expire until June 30, 2000.

SECTION 2.

SECRETARY OF THE COMMONWEALTH.
State Secretary.

0521-1982

N.B. -- The Acting Governor has vetoed this item

For costs associated with the central voter registry system established pursuant to chapter 475 of the acts of 1993 including software development costs and municipal hardware upgrades

.........................................................$2,770,607

0526-8998

N.B. -- The Acting Governor has reduced funding by $6,480,000 to $520,000 and struck the italicized language in this item

For a program of matching grants to units of municipal government and to private, nonprofit organizations for the preservation of historic properties, landscapes and sites; provided, that such funds shall be awarded in accordance with regulations promulgated by the state secretary in his capacity as chairman of the Massachusetts historical commission; provided further, that $100,000 shall be expended from this item for the Brook Estate Restoration project in the city of Medford; provided further, that $500,000 shall be expended for repairs and improvements to Stetson Hall in the town of Randolph; provided further, that $150,000 shall be expended for the purposes of the Quinebaug and Shetucket Rivers Valley Heritage District project, so-called; provided further, that $150,000 shall be expended for the additional expenses of the Framingham Hollis Street Fire Station Project, so-called; provided, however, that said $150,000 shall be in addition to funds previously appropriated for the purposes of said project; provided further, that $50,000 shall be expended for repairs and improvements to the Wilbraham Grange Hall in the town of Wilbraham; provided further, that $100,000 shall be expended for the Tenney Park Land Restoration Project, so-called; and provided further, that expenditures made for all of the projects explicitly referenced in this item shall be made notwithstanding the provisions of any general or special law or rule or regulation to the contrary; provided further, that $50,000 shall be expended for repairs and improvements to the historic Easthampton town hall in the town of Easthampton; provided further, that not less than $420,000 shall be expended for improvements to the Soldiers and Sailors memorial building in the city of Melrose; and provided further, that $40,000 shall be made available for restoration of the Saugus town hall mural located in the town of Saugus

.........................................................$7,000,000

TREASURER AND RECEIVER-GENERAL.
Massachusetts Cultural Council.

0640-8998

N.B. -- The Acting Governor has reduced funding by $40,000 to $25,000 and struck the italicized language in this item

For a contract with the Cape Cod Symphony Orchestra in the town of Barnstable and Shea's Theater in the town of Montague; provided, that $25,000 shall be expended for a stage lift, shell, and lighting equipment for said Cape Cod Symphony Orchestra; provided further, that $40,000 shall be expended for heating and cooling systems the Shea Theater in the town of Montague; provided further, that in return for the receipt of the funds appropriated herein, the entities reference herein shall agree to provide in perpetuity free or reduced rate public programs or services to the citizens of the commonwealth

.........................................................$65,000

EXECUTIVE OFFICE FOR ADMINISTRATION AND FINANCE.
Division of Capital Asset Management and Maintenance.

1102-1981

N.B. -- The Acting Governor has vetoed this item

For the costs associated with emergency deferred maintenance and repairs to court facilities owned by the commonwealth; provided, that not more than $110,000 shall be expended for the construction and installation of a parking area for use by the Ayer district court;, provided further, that not more than $118,000 shall be expended for the installation of an air conditioning system in the Franklin county courthouse; provided that not more than $150,000 shall be expended for the construction and installation of a parking area for use by the Lowell district court

.........................................................$378,000

1102-1982

N.B. -- The Acting Governor has vetoed this item

For the costs associated with emergency deferred maintenance and repairs to capital assets owned by the commonwealth at state institutions of higher education; provided, that $100,000 shall be made available to the Springfield Technical Community College Corporation to defray the cost of relocating SpringBoard Technology on the campus of said community college; provided further, that any expenditure from this item shall include, but not be limited to, deferred maintenance and related projects at the university of Massachusetts, institutions within the state college system, and institutions within the community college system; provided further, that any operating funds previously budgeted for capital purposes shall continue to be used for the capital improvements for which they were budgeted; provided further, that priority be given to those projects deemed by the commissioner of the division of capital assets management and maintenance to be emergency in nature and the most cost-effective to effectuate; provided further, that not more than $1,820,000 shall be expended for the replacement of or repair to the underground steam distribution system at Bristol community college; provided, further, that the amount of $575,000 shall be expended for site work for student parking, underground utilities improvements, exterior fencing, and exterior security lighting improvements at Quinsigamond community college in Worcester; provided, further, that notwithstanding the provisions of section 40B of chapter 7 of the General Laws, the commissioner of said division may, upon the request of a state agency or building authority, delegate project control and supervision to that state agency or building authority over projects funded from this item whose estimated cost is less than $500,000 if said commissioner determines that the agency or authority has the ability to control and supervise such project; and provided, further, that funds for such emergency deferred maintenance and repair projects may be expended notwithstanding the provisions of sections 39B to 40N, inclusive, of chapter 7 of the General Laws whenever the total cost of such project is $500,000 or less

.........................................................$2,495,000

1102-1988

For the preservation of historical naval vessels entrusted to the people of the commonwealth and memorializing the contributions of Massachusetts veterans; provided, that of the amount appropriated herein, up to $10,000,000 shall be expended for the one-time costs of repair, renovation and overhaul of the USS Massachusetts, which is under the care and custody of the USS Massachusetts Memorial Committee, Inc. and is berthed in the Battleship Massachusetts World War II memorial located at Battleship Cove in the port of Fall River; provided, however, that said Committee shall without charge, admit organized school groups for a period of five years while said vessel is berthed in Battleship Cove; provided, further, that all such repairs, renovations, and overhauling shall be performed within the commonwealth; provided, further, that upon completion of any such repairs, renovations and overhauling, said vessel shall immediately return to the Battleship Cove, which shall serve as the official home port of the vessel; provided, further, that any unexpended balance of said $10,000,000 shall be made available for any one time repairs of other naval vessels berthed in said cove; provided, further, that not more than $2,050,000 of said amount shall be expended for the rehabilitation and preservation of the USS Salem berthed in the Fore River, including, but not limited to, replacement of deteriorated deck sections, replacement of boiler condensate hose system, rehabilitation of gangways, repair and painting of the superstructure, so-called, repair and painting of the hull and boot topping, so-called, and repair of exterior deck lighting systems

.........................................................$12,050,000

1102-7997

N.B. -- The Acting Governor has vetoed this item

For a one-time payment for the repair and renovation of the Massachusetts Building at the Eastern States Exposition in the town of West Springfield as authorized in item 6033-9799 of section 2B of chapter 11 of the acts of 1997

.........................................................$1,300,000

Department of Revenue.

1232-5995

N.B. -- The Acting Governor has vetoed this item

For the removal of underground storage tanks in the town of Florida

.........................................................$40,000

Department of Veterans' Services.

1410-7997

For the full state share of costs associated with the establishment of the Massachusetts veterans' cemetery in the town of Winchendon; provided, that the amount appropriated herein shall leverage federal funding secured by the department of veterans services for the same purposes; and provided further, that notwithstanding the provisions of section one, amounts appropriated herein shall be available for said purposes through fiscal year 2001

.........................................................$3,205,000

1410-8998

For the construction of a state Vietnam Veterans War Memorial in the city of Worcester

.........................................................$500,000

Reserves.

1599-1985

N.B. -- The Acting Governor has reduced funding by $5,200,000 to $19,995 and struck the italicized language in this item

For costs related to environmental remediation projects undertaken by state agencies pursuant to executive order 350, the governor's clean state initiative, so-called; provided, however, that not more than $3,700,000 shall be expended for site remediation at the Belchertown state school; provided, further, that not more than $1,500,000 shall be expended for the removal of asbestos at the University of Massachusetts Amherst; and provided further, that $19,995 be expended for a pilot project to acquire a trailer mounted prover for checking the accuracy of liquid measuring devices in the towns of Duxbury, Hanson, Pembroke and Marshfield

.........................................................$5,219,995

1599-1986

N.B. -- The Acting Governor has vetoed this item

For a contract with the Nantucket Ice Organization, so-called, to assist in the construction of an ice skating facility on the island of Nantucket; provided, that said organization shall contribute an amount at least equal to the amount appropriated herein for the purposes of constructing said ice skating facility; provided further, that said organization shall allow the residents of the commonwealth use of said ice skating facility at a reduced rate of admission

.........................................................$2,000,000

1599-1987

N.B. -- The Acting Governor has vetoed this item

For a reserve to initiate the capital planning program, so-called, for the secondary school program at Essex Agricultural and Technical Institute

.........................................................$1,500,000

Information Technology Division.

1790-1981

For the development of a disaster recovery plan, including a back up computer center for the commonwealth's critical computer systems; provided, however, that said plan shall include, but not be limited to, a description of the proposed site for said back up computer center within the military division headquarters in Milford, a proposed fee structure for the agencies which will use said back up center, the costs and a detailed time table for each phase of implementation, the annual operating expenses of said back up center detailed by subsidiary and object code, recommendations for alternative locations for said back up center; and provided further, that the division shall file a copy of said plan with the house and senate committees on ways and means no later than January 15, 1999

.........................................................$100,000

1790-1983

N.B. -- The Acting Governor has reduced funding for this item by $3,200,000 to $11,000,000

For certain costs associated with the development and implementation of the commonwealth's human resources and compensation management system, so-called

.........................................................$14,200,000

1790-8998

For expenses of projects to correct the date-handling logic problems, so-called, in critical commonwealth computing systems in order to sustain uninterrupted operations through the calendar year 2000 and beyond; provided, that the secretary of administration and finance may transfer funds from this item to other items of appropriation and allocations thereof in accordance with a transfer plan which shall be filed in advance with the house and senate committees on ways and means; provided further, that said secretary shall file a quarterly report with the house and senate committees on ways and means delineating by agency and project the amounts which have been expended or transferred from this item, the status of such projects, anticipated completion dates of such projects and estimates of any additional funds necessary for the completion of such projects; and provided further, that any and all federal reimbursements which result from expenditures made from this item or from funds which have been transferred or allocated from this item shall be credited to the General Fund

.........................................................$20,400,000

EXECUTIVE OFFICE OF ENVIRONMENTAL AFFAIRS.
Office of the Secretary.

2000-1983

N.B. -- The Acting Governor has vetoed this item

For a one time reimbursements to certain communities for open space land acquisitions; provided, that $622,343 shall be made available to the town of Harwich for the hawks nest, so-called, open space land acquisition, pursuant to the 1988 acquisition and management agreement between the town of Harwich, the division of conservation services, the department of environmental management, the nature conservancy and the department of fisheries, wildlife and environmental law enforcement; provided further, that $350,000 shall be made available to the town of West Newbury for acquisition of an eight and one-half acre parcel known as the Daly property, or lot #33 Main street, so-called, in said town; provided further, that said parcel shall be used for recreational purposes; and provided further, that $500,000 shall be made available to the town of Westwood for a one time reimbursement for the Lowell Property, so-called, land acquisition pursuant to an agreement between the town and the Lowell family, for the purposes of conservation and recreation; and provided further, that such reimbursement shall represent the commonwealth's total commitment in such land acquisition

.........................................................$1,472,343

2000-7997

N.B. -- The Acting Governor has vetoed this item

For costs associated with a certain water treatment plant in the town of North Attleboro; provided, that said plant shall be capable of treating or removing volatile organic compounds and iron; provided further, that said treatment plant shall serve at least one well located in the town of Plainville; provided further, that said treatment plant shall serve not less than five wells in the town of North Attleboro

.........................................................$3,908,000

2000-7998

N.B. -- The Acting Governor has reduced funding for this item by $200,000 to $300,000

For a grant to the Massachusetts Water Resources Authority to finance a comprehensive and complete analysis of providing permanent supplemental water service to the south shore communities of Avon, Braintree, Brockton, Canton, Holbrook, Randolph, Stoughton and Weymouth in order to meet said communities' additional water needs; provided, that said analysis shall include a complete exploration of the capital improvements and design costs necessary to implement said service; and provided further, that said analysis shall be submitted to the house and senate committees on ways and means no later than November 1, 1998

.........................................................$500,000

2000-8998

N.B. -- The Acting Governor has vetoed this item

For the purchase of certain properties to enhance the environmental beauty of the commonwealth; provided, that the secretary of environmental affairs, acting by and through the metropolitan district commission, shall purchase a certain parcel of land containing approximately seven acres which is situated in the Jamaica Plain section of the city of Boston and borders a portion of the Frederick Law Olmstead Emerald Necklace

.........................................................$3,500,000

2040-1981

N.B. -- The Acting Governor has vetoed this item

For a proportional reimbursement for debt service costs attributable to the installation of certain air pollution control and related equipment or the cost of closing of the North Andover North East Solid Waste Committee energy to waste plant as required by the United States Environmental Protection Agency "Standards of Performance for New Stationary Sources and Emission Guidelines for Existing Sources: Municipal Waste Combusters" (40CFR60) pursuant to section 129 of the Clean Air Act amendments of 1990; provided, however, that the city of Peabody and the towns of Acton, Andover, Arlington, Bedford, Belmont, Boxborough, Burlington, Carlisle, Dracut, Hamilton, Lexington, Lincoln, Manchester, North Andover, North Reading, Tewksbury, Watertown, Wenham, Westford, West Newbury, Wilmington and Winchester shall be eligible to receive said proportional reimbursement; provided, further, that any amounts provided from this item shall be in addition to and shall not replace any amounts currently appropriated by said cities and towns for said debt service costs; and provided, further, that any amount provided from this item shall be solely for the purposes of this item; provided, further, that notwithstanding the foregoing, if the said energy to waste plant should be closed because of environmental factors the amounts provided from this item shall continue to be paid to the above named cities and towns

.........................................................$3,000,000

Department of Environmental Management.

2100-3012

N.B. -- The Acting Governor has reduced funding for this item by $1,000,000 to $500,000

For the planning, design, permitting, and implementation of flood mitigation and environmental restoration projects in the Muddy River in the city of Boston and the town of Brookline

.........................................................$1,500,000

2120-6996

N.B. -- The Acting Governor has reduced funding for this item by $750,000 to $250,000

For a comprehensive inventory of those remaining landscapes in the commonwealth which, because of such landscapes' scenic, historic and cultural importance, should be preserved for future generations

.........................................................$1,000,000

2120-7997

N.B. -- The Acting Governor has vetoed this item

For repairs and improvements to seawalls, dams, and waterways; provided, that the department of environmental management shall effect repairs and improvements to the Wallum lake boat ramp at Douglas state forest, publicly-owned dams at the Hamilton Reservoir, and in the towns of Carver, Halifax, Kingston and Plymouth; provided further, that $75,000 shall be expended for flood mitigation in the Reedy Meadow area in the towns of Lynnfield, Wakefield, and Saugus; provided further, that said expenditure shall be contingent upon the expenditure of $25,000, in the aggregate, by said towns on said flood mitigation project; provided further, that $52,500 shall be expended for phase three, so-called, for the improvement and preservation of the Craigville pond and Centerville river system, known as the Red Lily Pond Restoration Project; provided further, that the department shall enter into contracts with said Red Lily Pond Restoration Project; provided further, that $650,000 shall be expended for the state share of engineering, study and design for construction of a seawall in the town of Marblehead; provided further, that $1,000,000 shall be expended to eradicate nonnative aquatic plant life, including $15,000 for such eradication efforts at Warners pond in the town of Concord and $15,000 for such eradication efforts at Mirror lake in the towns of Norfolk and Wrentham; provided further, that not more than $100,000 shall be expended for eradication of eurasian watermilfoil in those portions of the Congamond lakes located within the commonwealth in the town of Southwick; provided further, that $50,000 shall be expended for the treatment of algae and removal of siltation at Winter pond along the Aberjona river in the town of Winchester; provided further, that $100,000 shall be expended to mitigate erosion problems at Kitchen brook in the town of Cheshire; provided further, that $20,000 shall be expended to repair the wing wall, so-called, at the Wild Acres wildlife sanctuary in the city of Pittsfield; provided further, that not more than $580,000 shall be expended for a boat ramp facility on the Merrimack river in the city of Lowell including, but not limited to, the development of design and engineering plans, site preparation, construction and installation of double boat ramp, trailer spaces, a parking area, a headwall, drainage pipes, curbing and other amenities; provided further, that $140,000 shall be expended for the completion of the river walk, so-called, along the Ipswich river in the town of Ipswich; provided further, that not more than $5,000,000 shall be expended for the repair of sea walls and other coastal structures in the towns of Marshfield, Scituate and Braintree; provided further, that not more than $400,000 shall be expended on the repair of the Foundry Pond Dam in the town of Hingham; provided further, that not more than $30,000 shall be made available for the repair of Blood Pond Dam in the town of Hopkinton; provided further, that not more than $100,000 shall be made available for the repair or rehabilitation of the Doublebrook Dam in the town of Middleborough; provided further, that not more than $70,000 shall be made available, in addition to funds made available in item 2095-8968 of chapter 277 of the acts of 1995 for the repair and reconstruction of the dam at Lake Monomonac in the town of Winchendon; provided further, that not less than $100,000 shall be earmarked for repairs to dams at Forge Pond and at the Carver Cotton Gin in the town of East Bridgewater; provided further, that not less than $48,000 shall be expended for repairs to the Marino Pond Dam in the town of Dudley for completion of construction and rehabilitation of the low-level gate and surrounding area; provided further, that not less than $200,000 be expended for the engineering, design, and reparation of the Glenn Echo Dam located in the town of Charlton; and provided further, that the department shall expend funds to pay 70 per cent of the total cost for the repair and renovation of the Ellis Pond Dam in the town of Norwood

.........................................................$9,257,750

2120-8998

N.B. -- The Acting Governor has reduced funding by $4,830,950 to $3,200,000 and struck the italicized language in this item

For improvements to parks and other facilities as provided herein; provided, that $500,000 shall be expended for the acquisition of a weed harvester for use by the city of Springfield, the town of East Longmeadow and the Wilbraham parks department for use in the ponds, lakes and other waterways in the greater Springfield area; provided further, that $775,000 shall be expended for repairs and improvements at Blunt park in the city of Springfield; provided further, that $115,000 shall be expended for repairs to the Senator P. Eugene Casey memorial pool in the town of Milford; provided further, that $150,000 shall be expended for repairs and improvements to the Ames Nowell state park in the town of Abington; provided further, that $100,000 shall be expended for repairs and improvements to Sunset lake park in the town of Braintree; provided, however, that expenditure of said $100,000 shall be subject to a funding match from said town of Braintree; provided further, that $179,450 shall be expended for repairs and improvements to the Olmstead park in the town of Wareham; provided further, that $250,000 shall be expended for the construction of certain facilities on the visitor's picnic beach, so-called, at Clarksburg State Forest; provided further, that funds shall be expended from this item for a study of the feasibility of restoring the Jug end pond in the Jug end state reservation in the town of Egremont to a viable swimming pond; provided further, that $1,200,000 shall be expended for repairs, improvements, and the restoration of the Walter Baker Administration Building, so-called, in the Dorchester section of the city of Boston; provided further, that $185,000 shall be expended for the purchase of a brush breaker, so-called, to be housed in the town of Carver and utilized for the department of environmental management's forests and parks in the vicinity of said town; provided further, that not less than $150,000 shall be expended for the repair and renovation of the boathouse at Regatta point in the city of Worcester; provided further, that not less than $300,000 shall be expended for the repair and renovation of Green Hill park in the city of Worcester; provided further, that not less than $100,000 shall be granted to the city of Quincy for the purpose of rehabilitation and restoration of a Frederick Law Olmstead-designed park, known as Merrymount park, in said city; provided further, that $40,000 shall be expended for repairs and improvements to the pavilion, so-called, at the Mount Tom state reservation; provided further, that not less than $175,000 shall be expended for the planning, design, engineering, and construction of a handicap accessible pier, including associated parking and amenities, located at Silver Lake in the town of Wilmington; provided further, that not less than $50,000 shall be expended for the design and repair of the historic one-room schoolhouse at Moore State Park in the town of Paxton; provided further, that not less than $150,000 shall be expended for the rehabilitation, repair, and/or upgrading of the athletic field, walking track, and related projects at Quinsigamond State Park in the city of Worcester; provided further, that not less than $300,000 shall be expended to replace the wading pool in Warren Manning state park; and provided further, that not more than $1,000,000 shall be expended for the repair of the cooling system at Hetland Memorial Rink in the city of New Bedford

.........................................................$8,030,950

Department of Environmental Protection.

2200-1982

N.B. -- The Acting Governor has vetoed this item

For the upgrade and replacement of laboratory equipment at the Senator William X. Wall experiment station laboratory including, but not limited to, an automated bacterial colony counter, an epiflourescence microscope, a conductivity meter, fume hoods, a stomacher laboratory blender, a gas chromatograph/mass spectrometer, an ion chromatograph; and an auto analyzer

.........................................................$190,400

2200-5995

For the purchase of equipment associated with phase II of the environmental results program, so-called

.........................................................$296,000

2200-6996

N.B. -- The Acting Governor has vetoed this item

For the design phase of the municipal sewer project, so-called, in the town of Millville

.........................................................$26,000

2200-7997

N.B. -- The Acting Governor has vetoed this item

For an independent hydrogeological study of issues related to the siting of a sanitary landfill in the town of Douglas pursuant to the provisions of section 21

.........................................................$200,000

2200-8998

N.B. -- The Acting Governor has vetoed this item

For the implementation of a program of outcome-based monitoring of the impact of the effluent discharge from the Massachusetts Water Resources Authority's sewerage treatment plant diffusers in Massachusetts bay on the early benthic phase lobster recruitment including, but not limited to, studies of: (a) chronic toxicity testing of caged early benthic lobsters; (b) early benthic phase lobster distribution and abundance; and (c) movement and distribution of egg-bearing female lobsters; provided, that such studies shall be undertaken before and after said Authority's sewerage treatment plant diffusers begin discharging effluent

.........................................................$500,000

2260-5995

N.B. -- The Acting Governor has vetoed this item

For the remediation of the toxic trichloroetyhlene plume in the towns of Needham and Wellesley that has migrated from the Microwave Development Laboratories site, so-called, in said town of Needham

.........................................................$1,200,000

2260-6996

N.B. -- The Acting Governor has reduced funding for this item by $500,000 to $250,000

For a full environmental assessment of the railroad depot site, so-called, in the downtown area in the city of New Bedford

.........................................................$750,000

Department of Fisheries, Wildlife, and Environmental Law Enforcement.

2320-6996

N.B. -- The Acting Governor has vetoed this item

For the design, repair, reconstruction or relocation of boating access ramps, the design and construction of a barrier-free float system, the construction of a barrier-free sportfishing pier, and the installation of signage on the property of the metropolitan district commission at gates 8 and 31 at the Quabbin reservoir

.........................................................$80,000

Metropolitan District Commission.

2440-1982

N.B. -- The Acting Governor has vetoed this item

For the repair and rehabilitation of various fish ladders and water aeration systems; provided, that not more than $325,000 shall be expended for the fish ladder at the Charles River dam and the replacement of the aeration system in the Charles River basin; provided, further, that not more than $75,000 shall be expended for the fish ladder system in the town of Kingston; provided, further, that not more than $75,000 shall be expended for the fish ladder system in the town of Pembroke; and provided, further, that the commissioner shall submit a comprehensive plan for the long term maintenance and upkeep of said fish ladders and aeration system to the house and senate committees on ways and means no later than January 15, 1999

.........................................................$475,000

2495-7997

N.B. -- The Acting Governor has vetoed this item

For the purchase of no less than 70 acres of land located in the town of Belmont to be used as open space in connection with the reuse plans, so-called, for the McLean Hospital Site; provided, that said land shall be in close proximity to the Beaver Brook reservation; provided further that land acquired with the funds appropriated herein combined with any matching funds contributed from other sources for the purposes of this land acquisition shall be owned and under the jurisdiction of the metropolitan district commission; provided further, that said purchase shall provide for the acquisition by the said commission in fee simple absolute; provided further, that said commission shall not pay an amount greater than the fair market value for any land acquired with the funds appropriated herein; provided further that land acquired using funding appropriated herein shall only be used to create open space for passive public recreation use

.........................................................$3,000,000

2495-8998

N.B. -- The Acting Governor has vetoed this item

For improvements to properties of the commission including, but not limited to, skating rinks, swimming pools, roadways, playgrounds and park facilities; provided, that, notwithstanding the provisions of any general or special law, rule or regulation to the contrary, with respect to all activities, including procurement and contract management, required for the purposes of this item and funded by the amount appropriated herein, all authorities and responsibilities normally belonging to the division of capital asset maintenance and management shall belong solely to the commission; provided further, that the commission shall conduct all such activities in a manner consistent with the best interest of the commonwealth and according to sound business practice; provided further, that the commission shall file bimonthly reports detailing all encumbrances and expenditures of funds appropriated herein, and the status of all repairs to be funded from this item, with the secretary of environmental affairs, the secretary of administration and finance and the house and senate committees on ways and means; provided further, that no funds appropriated herein shall be expended for any personnel or administrative costs of the commission; provided further, that not less than $1,472,000 shall be expended for the design and replacement of the rink bed and other necessary improvements at the Veterans memorial rink in the city of Somerville; provided further, that not less than $400,000 shall be expended for the purposes of renovations, repairs, including roofing, maintenance and safety improvements, to the Melnea Cass pool and rink in the Roxbury section of the city of Boston; provided further, that $180,000 shall be expended for the design, rehabilitation, construction and equipment, including construction of a children's play area in Hill park within the city of Revere; provided further, that $775,000 shall be expended for the design and construction of the Mystic lake dam restoration project in the town of Winchester and the city of Medford; provided further, that an amount shall be expended for the purchase of the Skaza property, so-called, in the Swift river flood plain; provided further, that $50,000 shall be expended for phase I site analysis and preliminary restoration of the Zoppo property, so-called, in the town of Winthrop; provided further, that $170,000 shall be expended for a study, including engineering plans, for repairs or replacements to the earthen dam and sluice gate at Ponkapoag pond in the towns of Canton and Randolph; provided further, that not more than $400,000 shall be expended to rebuild the Ponkapoag boardwalk in the Blue Hill Reservation on Ponkapoag road in the towns of Canton and Randolph; provided further, that said boardwalk shall be constructed at least two feet above the high water mark and shall be in compliance with the Americans with Disabilities Act; provided further, that $350,000 shall be expended to rehabilitate and make handicapped accessible the bathhouse of the McCrehan pool in the city of Cambridge; provided further, that $180,000 shall be expended for renovations and replacement of existing structures and filtration fountains owned by the metropolitan district commission at Fellsmere pond in the city of Malden; provided further, that not less than $150,000 shall be expended for the general rehabilitation of Bryan skating rink; provided further, that $200,000 shall be expended for repairs and improvements to the Ward bath house in the town of Nahant; provided further, that $200,000 shall be expended for the construction of a multipurpose recreational field on commission properties in the town of Southborough; provided further, that $200,000 shall be expended for repairs and improvements to McMorrow playground in the Dorchester section of the city of Boston; provided further, that $50,000 shall be expended to repair and replace the fencing and backstops at Santoro field in the city of Medford; provided further, that $2,900,000 shall be expended for repairs and improvements to the Arlington veterans' memorial skating rink; provided further, that $100,000 shall be expended for repairs and improvements to Connors memorial pool in the city of Waltham; provided further, that $150,000 shall be expended to install street lights on Norumbega road in the town of Weston; provided further, that, law or this item to the contrary, $1,500,000 shall be provided to the city of Lynn for the costs associated with the design and repair of Fraser field in said city; provided further, that not less than $40,000 shall be expended by the commission working in concert with the public access board towards the planning, design and engineering of, but not limited to, a deepwater pier, parking lot and boat ramp of said commission's property in the Hough's Neck section of the city of Quincy referred to as Hurley's boat yard; provided further, that not more than $40,000 shall be expended for the costs associated with conducting a historic structures and programming report for the Brook Farm Print Shop at the Brook Farm historic site in the West Roxbury section of the city of Boston; provided further, that not less than $2,500,000 shall be expended on repairs and construction at the Steriti Rink in the North End section of the city of Boston; provided further, that not more than $6,000,000 shall be expended for the replacement of the Connell rink and pool with a pilot project to test the feasibility of the multi-purpose recreational complex known as a Balfour rink; and provided further, that not less than $800,000 shall be expended for the costs associated with the replacement of the roof of the Kasabuski Memorial Ice Rink

.........................................................$19,007,000

Department of Food and Agriculture.

2511-6996

N.B. -- The Acting Governor has vetoed this item

For sundry improvements to the facilities which provide support through the emergency food assistance program pursuant to the provisions of item 2511-0105 of section 2 of the general appropriations act for fiscal year 1999; provided, that $50,000 shall be obligated for the Framingham Civic League; provided further, that $70,000 shall be obligated for the Merrimack Valley Food Bank

.........................................................$120,000

2511-8998

N.B. -- The Acting Governor has vetoed this item

For a program to acquire agricultural preservation restrictions pursuant to sections 11A to 11D, inclusive, of chapter 132A of the General Laws; provided, that any person or entity who receives funds from the amounts appropriated herein shall be encouraged to participate in programs of the department of food and agriculture as may be suggested by the commissioner of said department; provided further, that such programs may include, but not be limited to, integrated pest management, pesticide regulation and reduction and agricomposting; provided further, that the agricultural lands preservation committee shall prioritize the allocation of funds from this item for the acquisition of agricultural preservation restrictions on those lands deemed to be of significance to the protection and preservation of the commonwealth's agricultural base; and provided further, that in determining that significance, said committee shall consider the agrarian character of the community in which the lands are located and the degree to which the acquisition would serve to preserve that character

.........................................................$1,500,000

EXECUTIVE OFFICE OF HEALTH AND HUMAN SERVICES.
Division of Medical Assistance.

4000-8998

N.B. -- The Acting Governor has vetoed this item

For medicaid payments made to hospitals under the control of the department of public health for Title XIX reimbursable services provided, that expenditures made from this item shall not result in recurring liabilities to the commonwealth in future fiscal years; provided further, that no funds appropriated herein shall be expended for the compensation of state employees or employees under contract with the commonwealth; provided further, that said department shall reimburse the General Fund through an intergovernmental funds transfer in the amount of $5,000,000 pursuant to this item; provided further, that said department shall expend the of funds it receives pursuant to this item for purchase of equipment, and for improvements to equipment and capital assets of said hospitals; provided further, that not later than August 15, 1998, the department shall submit a report to the house and senate committees on ways and means delineating all planned and actual expenditures to be made for said purchases for and improvements to such hospitals; and provided further, that, notwithstanding the provisions of section 1 or any other general or special law to the contrary, funds appropriated herein shall be available for expenditure until June 30, 1999

.........................................................$10,000,000

Massachusetts Commission for the Blind.

4110-1982

For equipment for the manufacture of mops and brooms at Ferguson industries for the blind

.........................................................$36,000

Department of Transitional Assistance.

4400-8998

N.B. -- The Acting Governor has reduced funding for this item by $684,500 to $500,000

For the acquisition of computer software for the BEACON project, so-called

.........................................................$1,184,500

EXECUTIVE OFFICE OF TRANSPORTATION AND CONSTRUCTION.
Department of Highways.

6037-0010

N.B. -- The Acting Governor has reduced funding for this item by $7,000,000 to $93,000,000

For projects for construction and reconstruction of town and county ways as described in subdivision (a) of clause (2) of the first paragraph of section 34 of chapter 90 of the General Laws; provided, however, that a city or town shall comply with procedures established by the department of highways; provided further, that any such city or town may appropriate for such projects amounts not in excess of the amounts provided to such city or town under this item; provided further, that said appropriation shall be considered as an available fund upon the approval of the commissioner of revenue pursuant to section 23 of chapter 59 of the General Laws; and provided further, that the commonwealth shall reimburse such city or town under this item within 30 days of receipt by the department of a request for reimbursement from such city or town, which request shall include certification by such city or town that actual expenses have been incurred on projects eligible for reimbursement under this item and that the work has been completed to the satisfaction of such city or town according to the specifications of such project and in compliance with applicable law and procedures established by the department

.........................................................$100,000,000

6037-8998

N.B. -- The Acting Governor has vetoed this item

For sundry roadway projects as provided for in this item; provided, that $3,000,000 shall be expended for the design and engineering of state highway route 18 in the downtown area of the city of New Bedford; provided further, that $28,600 shall be expended for the reconfiguration and signalization of the intersection of West Boylston and Grove Street in the city of Worcester; provided further, that $200,000 shall be expended for a traffic study of state highway route 109 in the town of Medway; provided further, that $1,900,000 shall be expended for the Chestnut Street Turn-Back Project, so-called, in the town of Needham; provided further, that upon completion of said turn back project the town of Needham shall be required to perform all future maintenance on said road; provided further, that $900,000 shall be expended for the infrastructure projects, including water and sewer, for the 126 corridor in the town of Ashland; provided further, that not less than $360,000 shall be expended for traffic signalization projects at the intersections of route 4 and Dalton Road and at the three way intersection, so-called, of route 4, Davis Road and Parkhurst Road all in the town of Chelmsford; provided further, that $336,000 shall be expended for strucutral reinforcements of the Bolivar Street public works garage in the town of Canton; and provided further, that $130,000 shall be expended for the purposes of cleaning the storm drain discharging into the southwest corner of spy pond in the town of Arlington and for the removal of the existing sandbar in said spy pond

.........................................................$6,854,600

BOARD OF LIBRARY COMMISSIONERS.

7000-1981

N.B. -- The Acting Governor has reduced funding for this item by $1,000,000 to $500,000

For first year funding of a three year plan for automated network technology for libraries to provide internet accessibility to workstations in member libraries, to provide full multimedia access to electronic library information resources, and to extend internet protocol addresses to workstations in libraries not previously affiliated with automated networks

.........................................................$1,500,000

7000-7997

N.B. -- The Acting Governor has reduced funding for this item by $8,000,000 to $2,000,000

For matching grants for repairs and improvements to the library of last recourse; provided, that notwithstanding the provisions of any general or special law to the contrary, an amount not to exceed $8,000,000 shall be made available subject to a 50 per cent matching contribution from funds raised through private contributions to the library of last recourse to complete the McKim restoration project, so-called; provided further, that an additional $2,000,000 shall be made available subject to a 50 per cent matching contribution through funds raised through private contributions and a 100 per cent match from the city in which said library of last recourse is located for said McKim restoration project in the event that said $8,000,000 has been committed

.........................................................$10,000,000

7000-8998

N.B. -- The Acting Governor has reduced funding for this item by $12,141,552 to $11,406,448

For grants to cities and towns for approved public library projects as authorized by sections 19G to 19I, inclusive, of chapter 78 of the General Laws; provided, that such grants shall only be awarded for projects which have commenced after April 10, 1996

.........................................................$23,548,000

OFFICE OF LABOR, EDUCATION, AND WORKFORCE DEVELOPMENT.
Department of Housing and Community Development.

7004-8975

N.B. -- The Acting Governor has vetoed this item

For the demolition of certain abandoned buildings which represent a severe public health and safety risk, as authorized in item 3722-9950 of section 2B of chapter 277 of the acts of 1995; provided, that not more than $3,000,000 shall be expended for the demolition and site remediation of the Photech building site, so-called, in the town of Williamstown; provided further, that $200,000 shall be expended for the demolition of the Old Kendall Mill, so-called, in the town of Colrain; provided further, that not less than $750,000 shall be expended for the demolition of abandoned buildings in the city of Lawrence; provided further, that not less than $1,500,000 shall be expended by the department of housing and community development for demolition and removal of buildings at the West Broadway Housing Development in the South Boston section of the city of Boston; and provided, further, that not more than $30,000 shall be expended for the demolition of abandoned buildings, which pose a serious health and safety risk, at 1551, 1553 and 1555 Main Street in the city of Worcester

.........................................................$5,480,000

7004-8976

N.B. -- The Acting Governor has vetoed this item

For state financial assistance in the form of community development action grants by the commonwealth acting by and through the department of housing and community development pursuant to section 57A of chapter 121B of the General Laws; provided, that not less than $2,250,000 shall be made available as a one time grant to the city of Pittsfield for deposit in a fund to be established on the books of said city known as the Pittsfield Community Redevelopment Fund, which shall be used exclusively for the purposes of restoration, construction, expansion or repair of said city's land, buildings, parks and recreational areas, cultural, entertainment, public venue or commercial facilities; provided further, that said fund shall be administered by the mayor for the city of Pittsfield, with recommendations from the city council; provided, further, that not more than $2,225,000 shall be expended for the construction and design of a project to extend an existing sewer main to an industrial zoned area in the towns of Lancaster, Leominster, and Lunenburg; provided further, that not more than $900,000 shall be expended to repair and extend an existing sewer main at the 9/90 site, so-called, in the town of Framingham; and provided, further, that prior to the release of any funds from this item for said sewer main, said towns shall provide a 100 per cent match from other sources for said purpose

.........................................................$5,375,000

7004-5995

For the recapitalization of the Massachusetts Housing Partnership Fund

.........................................................$500,000

7004-6996

For the recapitalization of the Massachusetts Community Development Finance Corporation

.........................................................$1,000,000

7004-7997

N.B. -- The Acting Governor has reduced funding by $18,911,000 to $450,000 and struck the italicized language in this item - the figure of $1,850,000 in the text of this item was reduced $450,000

For state financial assistance for regional community and economic development projects; provided, that $1,000,000 shall be expended for the Millis memorial school conversion project, so-called; provided further, that $2,250,000 shall be provided to the town of Amherst for the Amherst community center project; provided further, that $2,000,000 shall be expended for the Academy of Music, so-called; provided further, that $2,000,000 shall be expended for the study, design and the renovation and expansion of the Greenleaf community center in the city of Springfield; provided further, that the director of the department of housing and community development shall contract for an amount not to exceed $30,000 with a community development corporation in the Canton area for a study of the economic development and revitalization of the Cantor Center business district; provided further, that $3,000,000 of the amount appropriated herein shall be expended for a grant to the Fitchburg Redevelopment Authority for said Authority's plan for the development of an urban technology mall at the North Street Corridor in the city of Fitchburg; provided further, that $200,000 shall be expended for the Methuen community center project, so-called; provided further, that $1,200,000 shall be expended for the conversion of a municipal facility in the town of Swampscott; provided further, that $1,050,000 shall be expended for the completion of the wood technology center at Mount Wachusett Community College; provided further, that of said $1,050,000, not less than $150,000 shall be expended for a demonstration project of the merits of biomass heating systems at the proposed Warwick elementary school in the town of Warwick; provided further, that $1,850,000 shall be expended for the school pier and adjacent building at the Massachusetts Maritime Academy, including $450,000 which shall be expended to meet unfunded federal and international mandates on the Standards for Training, Certification, and Watchkeeping (STCW); provided further, that $600,000 shall be allocated to the city of Leominster for the costs associated with the development of a certain industrial park in said city; provided further, that $3,000,000 shall be transferred to the University of Massachusetts to fund the one-time start-up costs associated with the alliance of the Center for Marine Science and Technology at the University of Massachusetts at Dartmouth and the Science, Education, and Economic Development Center at the New Bedford Aquarium Site or an appropriate site within the city of New Bedford including, but not limited to costs of office space and laboratories; provided, however, that said $3,000,000 shall not be transferred or expended until said university submits a spending plan for such funds to the house and senate committees on ways and means; provided further, that $600,000 shall be expended for improvements to fresh water pumping systems in the towns of Holbrook and Randolph; provided further, that $250,000 shall be expended for the development of a re-use plan for the New England Log Home site in the town of Great Barrington; provided further, that $200,000 shall be expended for the mitigation of pollution on the Aztec Industry site, so-called, in the town of North Brookfield; provided further, that $56,000 shall be expended for a study of the economic rehabilitation of the four corners neighborhood, so-called, in the city of Boston; provided further, that said study shall be submitted to the house and senate committees on ways and means not later than February 3, 1999; provided further, that not less than $75,000 shall be expended for the outstanding balance owed on the cost of the Mendon water line;

.........................................................$19,361,000

7004-8977

N.B. -- The Acting Governor has vetoed this item

For the renovation, remodeling, reconstruction, redevelopment, hazardous material abatement, including asbestos and lead paint, and for compliance with state codes and laws; provided, however, that the amount made available herein shall fund projects undertaken for the purpose of compliance with state codes and laws or for other purposes related to the health and safety of residents; provided, further, that said department may enter into a contract or contracts with housing authorities for projects undertaken pursuant to section 25 and clause (j) of section 26 of chapter 121B of the General Laws; provided, further, that not more than $5,000,000 shall be made available to the Boston Housing Authority for critical repairs to the Gallivan boulevard housing project development; provided, further, that not less than $300,000 be expended for capital improvements in various housing developments operated by the Lynn Housing Authority; and provided, further, that not more than $2,378,000 shall be expended for roof repairs, plumbing and sewer trap repairs, lead paint abatement, bathroom and kitchen renovations, and other renovations by the Northampton Housing Authority for the Hampshire Heights housing project; and provided, further that not more than $175,000 shall be made available to the Reading Housing Authority for the replacement of windows at the 667-C development, so-called, located in the town of Reading; provided, further, that not less than $100,000 shall be expended on a sprinkler system in the Tower Hill Senior Housing building in Burlington; and provided, further, that not more than $180,000 shall be made available to the Brockton Housing Authority for the installation of an emergency generator at the Crosby Gardens Elderly Housing Project Development

.........................................................$8,133,000

Department of Education.

7052-8998

N.B. -- The Acting Governor has vetoed this item

For grants and reimbursements to cities, towns, regional school districts and counties to mitigate health code violations caused by the presence of asbestos in school buildings; provided, that the rate of reimbursement made under the provisions of this item to such cities, towns, regional school districts and counties for such asbestos mitigation projects shall be the same as the rate of reimbursement currently provided to such entities under the school building assistance program authorized by chapter 645 of the acts of 1948; provided further, that no funds shall be expended from this item for a school which has not been closed as a result of health code violations resulting from the presence of asbestos; provided further, that the department of public health must certify that a community seeking reimbursement from this item closed a school as a result of health code violations resulting from the presence of asbestos; provided further, that, subject to the reimbursement provisions of this item, an amount not to exceed $500,000 shall be provided to the city of Revere; and provided further, that, subject to the reimbursement provisions of this item, an amount not to exceed $300,000 shall be provided to the town of Marblehead

.........................................................$2,000,000

7061-7997

N.B. -- The Acting Governor has reduced funding for this item by $1,000,000 to $5,500,000

For the second year costs associated with the implementation and development of the information management and computer tracking system, so-called

.........................................................$6,500,000

7061-8998

N.B. -- The Acting Governor has reduced funding by $5,000,000 to $5,000,000 and reduced the figure of $2,000,000 in the text of this item to $1,000,000

For the Massachusetts community network, so-called; provided, that the department of education shall collaborate with the information technology division to establish and operate said network; provided further, that the department of education shall disseminate information to all school districts relative to the federally funded universal service fund, so-called; provided further, that not less than $2,000,000 shall be expended for the establishment of an on-line database of curriculum resources to be coordinated jointly by said department, WGBH television, the Massachusetts Corporation for Educational Telecommunications and the University of Massachusetts; and provided further, that said department shall file a spending plan detailing the number of schools and municipalities connected to the Internet with the amounts appropriated herein with the joint committee on education and the house and senate committees on ways and means by April 1, 1999

.........................................................$10,000,000

Board of Higher Education.

7066-0115

N.B. -- The Acting Governor has reduced funding for this item by $3,000,000 to $8,000,000

For the purpose of implementing section 15E of chapter 15A of the General Laws to encourage private fundraising by the commonwealth's public institutions of higher education; provided, that funds shall be disbursed on a quarterly basis in proportion to the amount of funds raised by each institution; and provided further, that the board of higher education shall implement such program in a manner which ensures that each institution shall have an equal opportunity to secure matching funds from this item

.........................................................$11,000,000

Salem State College.

7114-8998

N.B. -- The Acting Governor has vetoed this item

For the purchase of equipment for the acquaculture center at Salem State College

.........................................................$590,000

University of Massachusetts at Dartmouth.

7310-8998

N.B. -- The Acting Governor has reduced funding for this item by $11,000,000 to $1,000,000

For the development of the advanced technology center at the University of Massachusetts at Dartmouth in Fall River

.........................................................$12,000,000

EXECUTIVE OFFICE OF PUBLIC SAFETY.
Office of the Secretary.

8000-1981

N.B. -- The Acting Governor has vetoed this item

For the purchase of equipment and capital renovations for public safety agencies; provided, however, that not more than $130,000 shall be expended for firearm simulators for the criminal justice training council; provided further, that not more than $90,000 shall be expended for laboratory improvements and equipment for the office of the chief medical examiner; and provided, further, that not more than $50,000 shall be expended for equipment for the emergency operations center of the military division

.........................................................$270,000

Department of State Police.

8100-0016

For the establishment and population of the CODIS database, so-called, to catalog DNA samples in compliance with chapter 22E of the General Laws; provided, that no funds shall be expended from this item until a court-ordered injunction prohibiting the collection and coding of DNA samples is dissolved and the secretary of public safety provides documentation of such dissolution to the secretary of administration and finance and to the senate and house committees on ways and means

.........................................................$1,773,923

8100-1981

N.B. -- The Acting Governor has vetoed this item

For the acquisition of three light twin helicopters for the state police air wing

.........................................................$8,400,000

8100-1982

For the purchase of equipment for the state police crime laboratory including, but not limited to, forensic DNA testing equipment, reagent kits and supplies, a scanning electron microscope, a UV spectrophotometer, polarizing comparison microscopes, upgrades and replacements to the crimcon fingerprint imaging systems, so-called, and computer polygraph equipment

.........................................................$1,153,125

Military Division.

8700-7997

For improvements to the Newburyport Armory

.........................................................$600,000

Department of Correction.

8900-1981

N.B. -- The Acting Governor has reduced funding for this item by $100,000 to $850,000

For emergency capital repairs to the various facilities of the department of corrections, including, but not limited to, roof repair or replacement, repair or upgrading of fire alarm systems, boiler systems, fencing, generators and water supply systems; provided, however, that not more than $100,000 be expended to repair or replace the windows in the cafeteria at the women's unit at MCI Framingham, so-called; provided, further, that priority be given to those projects deemed emergency in nature and the most cost effective to effectuate by the commissioner of said department; provided, further, that any new capacity in operating funds previously budgeted for capital purposes continue to be used for capital improvements; and provided further that not more than $850,000 shall be expended for the study, preparation of plans for the demolition, and the demolition of certain buildings owned by said department on Commonwealth avenue in the town of Concord known as White Row and on Elm Place in said town known as Green Row; provided, further, that in request for proposals for said demolition, said department shall require contractors to estimate the value of salvageable materials in said buildings; and provided, further, that said amount appropriated herein for demolition shall be net of any revenue generated from salvage

.........................................................$950,000

8900-1982

N.B. -- The Acting Governor has vetoed this item

For facility repairs, leased modular units and infrastructure improvements to expand detoxification unit capacity for females with acute substance abuse treatment needs held on bail awaiting trial at MCI Framingham or another location selected by the department

.........................................................$5,000,000

LEGISLATURE.

House of Representatives.

9634-2010

For expenses related to the upgrade or replacement of the house information technology systems, including maintenance of data and telecommunication equipment

.........................................................$3,350,000

SECTION 2A.

EXECUTIVE OFFICE OF HEALTH AND HUMAN SERVICES.

Office of the Secretary.

4000-7997

For a program of loan guarantees or interest subsidies to assist homeowners with blindness or severe physical disabilities in making modifications to their primary residence for the purpose of improved accessibility or to allow such homeowners to live independently in the community; provided, that the secretary of health and human services may contract with third parties including, but not limited to, the Massachusetts housing finance agency or commonwealth-based financial institutions, to manage such program; provided further, that said secretary and such third parties shall take all steps necessary to minimize such program's administrative costs; provided further, that such loan guarantees shall be available on the basis of a sliding scale that relates a homeowner's income and assets to the cost of home modifications; provided further, that interest subsidies shall be means-tested and may be for zero interest loans pursuant to income standards developed by said secretary; provided further, that the repayment of any such loans may be delayed until the sale of the principle residence by any such homeowner; provided further, that persons residing in any development covered by section four of chapter 151B of the General Laws shall not be eligible for said program unless the owner can show that the modificiation is an undue financial burden; provided further, that said secretary shall consult with the Massachusetts commission for the blind and the Massachusetts rehabilitation commission in developing rules, regulations and guidelines for such program; provided further, that nothing herein shall give rise to enforceable legal rights in any party or an enforceable entitlement to services; provided further, that nothing stated herein shall be construed as giving rise to enforceable legal rights or enforceable entitlement to any services; and provided further, that said secretary shall submit quarterly reports to the house and senate committees on ways and means detailing the status of the program herein established

.........................................................$10,000,000

SECTION 3. To meet the expenditures necessary to carry out the provisions of section 2A, the state treasurer shall, upon request of the governor, issue and sell bonds of the commonwealth, in an amount specified by the governor from time to time, not exceeding in the aggregate, the sum of $10,000,000. All bonds issued by the commonwealth, as aforesaid, shall be designated on their face, Home Modifications for the Disabled Loan, Act of 1998, and shall be issued for such maximum terms of years, not exceeding 20 years, as the governor may recommend to the general court pursuant to section 3 of Article LXII of the Amendments to the Constitution of the commonwealth; provided, however, that all such bonds shall be payable not later than June 30, 2019. Bonds and interest thereon issued under the authority of this section, notwithstanding any other provision of this act, shall be general obligations of the commonwealth.

SECTION 4. The state treasurer may borrow from time to time on the credit of the commonwealth such sums of money as may be necessary for the purposes of meeting payments authorized by section 2A and may issue and renew from time to time notes of the commonwealth therefor, bearing interest payable at such times and at such rates as shall be fixed by the state treasurer. Such notes shall be issued and may be renewed one or more times for such terms, not exceeding one year, as the governor may recommend to the general court in accordance with Section 3 of Article LXII of the Amendments to the Constitution of the commonwealth, but the final maturities of such notes, whether original or renewal, shall not be later than June 30, 2004. Notes and interest thereon issued under the authority of this section, notwithstanding any other provisions of this act, shall be general obligations of the commonwealth.

SECTION 5. Section 2 of chapter 339 of the acts of 1992 is hereby amended by striking out subsection (g) and inserting in place thereof the following subsection:-

(g) The corporation may receive a one-time payment from the commonwealth in an amount not to exceed $2,050,000 for the rehabilitation and preservation of the USS Salem berthed in Fore River. Said one-time payment shall represent the commonwealth's full obligation for said rehabilitation and preservation.

SECTION 6. Item 1100-9520 of section 2K of chapter 273 of the acts of 1994 is hereby amended by striking out the words "an off-street parking facility in the town of Stoneham" and inserting in place thereof the words:- off street parking and related enhancements to promote commercial activity in Stoneham center.

SECTION 7. Item 6033-9617 of section 2A of chapter 205 of the acts of 1996 is hereby amended by inserting after the words "Stony Hill road in the town of Wilbraham," the following words:- ; provided further, that $100,000 shall be expended for a pedestrian traffic control signal to be installed on East Main Street, State Highway route 131, opposite the entrance of the center of hope sheltered workshop, so-called, in the town of Southbridge; and provided further, that not more than $100,000 shall be expended for a full traffic signal to be installed at the intersection of Wood street and state highway route 28 in the town of Middleboro.

N.B. -- The Acting Governor has vetoed this section
SECTION 8. Item 6033-9799 of section 2A of chapter 11 of the acts of 1997 is hereby amended by striking out the words "provided further, that $1,200,000 shall be expended for the repair and renovation of the Massachusetts state building, so-called, at the eastern states exposition in the town of West Springfield",- and by striking out the figure "13,200,000" and inserting in place thereof the following figure:- 12,000,000.

N.B. -- The Acting Governor has vetoed this section
SECTION 9. Section 2C of said chapter 11 is hereby amended by striking out item 8100-9761.

SECTION 10. Subsection (b) of section 80 of said chapter 11 is hereby amended by striking out the words "shall be issued for not more than ten years" and inserting in place thereof the following words:- shall be issued for not more than 30 years.

SECTION 11. Notwithstanding the provisions of any general or special law to the contrary, the executive office of transportation and construction shall expend the funding authorized by item 6005-9575 of section 2H of chapter 273 of the acts of 1994 for removal of hazardous waste from the site of the East First street power station and complex in the South Boston section of the city of Boston.

SECTION 12. Notwithstanding the provisions of item 1790-1982 of section 2A or any other general or special law to the contrary, the executive office of administration and finance is hereby directed to correct date-handling logic problems and the year 2000 problem, so-called, in the commonwealth's computing systems in accordance with the provisions of this section.

Each public entity in the commonwealth shall ensure that its information technology systems are year 2000 compliant. The chief information officer, designated in section 4A of chapter 7 of the General Laws, is hereby authorized to coordinate and oversee the year 2000 compliance efforts of the executive departments. All executive departments shall cooperate to the fullest extent with said chief information officer and shall provide him, or his designees, with such information and reports as he may require. Said chief information officer is hereby further authorized to review technical budgets for the year 2000 compliance and remediation efforts of executive departments, regardless of whether such efforts are funded with capital, operating, federal or trust funds. Said chief information officer is hereby also authorized to establish such year 2000 compliance and validation standards as he deems appropriate.

The information technology division of the executive office of administration and finance shall report quarterly to the house and senate committees on science and technology and to the house and senate committees on ways and means on the progress being made to address the year 2000 problem and the degree to which funds expended pursuant to said item 1790-1982 are appropriate and not duplicative of expenditures made with funds from other sources.

N.B. -- The Acting Governor has vetoed this section
SECTION 13. The department of environmental protection, in consultation with the executive office of administration and finance, the Water Pollution Abatement Trust, and the department of housing and community development, is hereby directed to conduct a study of potential financial assistance programs, including but not limited to a Title V betterment program, relating to the costs of bringing sewage disposal systems serving manufactured housing communities into compliance with 310 CMR 15.00. Said report shall be submitted to the house and senate committees on ways and means not later than October 31, 1998.

N.B. -- The Acting Governor has vetoed this section
SECTION 14. There is hereby established on the books of the commonwealth a Cape Cod Land and Aquifer Protection Fund to be administered by the secretary of environmental affairs for the purpose of providing matching grants to municipalities in Barnstable county that acquire land for open space and aquifer protection. Said fund shall be established as an expendable trust and not subject to appropriation. Any acquisition for which a municipality seeks grants from said fund shall meet eligibility criteria established by said secretary. Said secretary shall disburse from said fund 50 per cent of the cost of any such acquisition upon a demonstration that the municipality has actually made said purchase or can demonstrate the financial ability to make said purchase.

Said eligibility criteria shall include, but not be limited to, the requirement that any such acquisition shall confer a significant environmental benefit, shall be retained in natural, scenic or open condition, and shall be bound by a permanent deed restriction, that runs with the land, which limits the use of the interest to the purpose for which it was acquired. Said eligibility criteria shall limit matching grants from said fund to only those properties approved for acquisition by a municipality after September 1, 1998. Matching grants shall only be permitted for acquisitions consisting of interests in real property consisting of the following (a) land to protect existing and future well fields, aquifers and recharge areas; (b) agricultural lands; (c) forest land; (d) fresh and salt water marshes and other wetlands; (e) ocean and pond frontage, beaches, dunes and other coastal lands; (f) land to protect scenic vistas; or (g) land for natural or wildlife preserve.

The comptroller is hereby authorized and directed to transfer from the General Fund to the Cape Cod Land and Aquifer Protection Fund established by this section the amount of $15,000,000 not later than June 30, 1998. Said amount shall be available for disbursement until June 30, 2002.

N.B. -- The Acting Governor has vetoed this section
SECTION 15. Notwithstanding the provisions of any general or special law to the contrary, the partial balances of unexpended bond authorizations, listed herein, shall cease to be available for expenditure as of the effective date of this act: 2120-8950, 2120-9955, 2120-9956, 2121-8887, 2122-8887.

N.B. -- The Acting Governor has vetoed this section
SECTION 16. The adjutant general is hereby directed that the records of the military forces of the commonwealth be maintained within the city of Boston.

SECTION 17. The division of capital planning and operations is hereby authorized and directed to study the cost effectiveness of the administrative office of the trial court entering into competitively selected contracts for the property management of all court facilities, including but not limited to, substantially renovated or newly constructed trial court facilities. Said study shall compare the current system of property management of said trial court facilities with systems of selected contracts for property management in effect for other agencies of the commonwealth as well as other systems of property management that are in effect in other states. The commissioner of said division shall file said study with the clerks of the house of representatives and senate, the house and senate committees on ways and means, and the joint committee of the judiciary by May 30, 1998.

SECTION 18. The secretary of administration and finance shall file a report no later than March 1, 1999 with the house and senate committees on ways and means detailing those expenditures from items if appropriation in section 2A of chapter 88 of the acts of 1998 which are projected to be unexpended or unobligated by the end of the accounts payable period in fiscal year 1999 and for which said secretary recommends an extension of funding into the subsequent fiscal year. Said report shall further list all amounts expended or obligated as of said date from said items and from any child accounts, so-called, created from said items.

N.B. -- The Acting Governor has reduced the amount of this transfers in this section by $190,060,702 to $189,235,491 by reducing the figures $272,441,593 and $106,854,600 in this section to $96,235,491 and $93,000,000 respectively
SECTION 19. Notwithstanding the provisions of any general or special law to the contrary, there is hereby established and set up on the books of the commonwealth the Capital Improvement and Investment Trust Fund, the sole purpose of which shall be to fund items appropriated in section 2. The comptroller shall transfer to said fund, effective June 30, 1998, $272,441,593 from the General Fund and $106,854,600 from the Highway Fund. Said fund shall be established as a separate expendable trust, subject to the control of the secretary of administration and finance, who shall serve as the trustee of said fund. Said fund shall expire on June 30, 2000.

N.B. -- The Acting Governor has vetoed this section
SECTION 20. Notwithstanding the provisions of any general or special law to the contrary, the metropolitan district commission shall study options to repair and modernize the Veterans memorial rink in the town of Arlington for the purpose of transferring ownership and maintenance responsibilities of said rink to said town of Arlington. Such study shall ensure that the seniority rights and other benefits of employees currently employed at said rink are not impaired as a result of such transfer of ownership and maintenance responsibilities; provided, that such study shall assume that all employees currently employed at said rink shall retain their current positions at not less than such employees current benefit levels. Such study shall also examine options and needs to repair and modernize other rinks owned by said commission which are under long-term lease to municipalities and the possibilities to transfer ownership and maintenance responsibilities of such rinks to such municipalities. The results of such study shall be filed with the house and senate committees on ways and means not later than September 30, 1998.

N.B. -- The Acting Governor has vetoed this section
SECTION 21. The department of environmental protection shall establish a panel of experts in the field of hydrology and water supply protection to perform an independent study of issues relating to the siting of a sanitary landfill in the town of Douglas upon land identified in a site assignment issued by said town's board of health to Douglas Environmental Associates, Inc. on or about April 1, 1987, and further described in more detail in a document attached to said site assignment and entitled "Description of Land Subject to Site Assignment Pursuant to G.L. c. 111, Section 150A". Such panel's study shall include, but not be limited to, the following issues: (a) the existence of faults and fractures in the bedrock underlying the proposed site for such landfill; (b) the extent to which such faults and fractures have been adequately identified and mapped; (c) the extent to which contaminants released from such landfill may reach groundwater wells serving public and private water supplies; (d) the extent to which the proposed plans for containing, monitoring and remediating such releases are adequate to ensure that there is no significant risk to public and private water supplies; and (e) the extent to which such proposed landfill poses a threat to the public health, safety, and the environment. Said department shall select the members of such panel, which shall consist of not less than three individuals with suitable background, training and expertise. Such panel shall prepare a written report of its findings and submit such report to said department and the legislature's joint committee on natural resources and agriculture not later than September 30, 1998; provided, however, that said department shall not issue a permit to construct or operate a landfill on the site described herein until said department has received and reviewed such report and accepted comments from interested persons on the contents of such study.

SECTION 22. Notwithstanding the provisions of any general or special law to the contrary, the department of education, in consultation with the department of public health, shall conduct a study to determine the number of schools which require funding for the abatement of asbestos. Said study shall delineate the name of the school, the school district in which such school is located, the estimated cost of the abatement project, and the estimated time to complete such abatement project. Said study shall be filed with the joint committee on education, arts and humanities, and the house and senate committees on ways and means not later than December 31, 1998.

SECTION 23. It is hereby found that the Massachusetts government land bank, established pursuant to chapter 212 of the acts of 1975, and the Massachusetts Industrial Finance Agency, established pursuant to sections 29 to 38C, inclusive, of chapter 23A of the General Laws, have within their respective enabling statutes a shared legislative mission generally to stimulate economic development and industrial growth, increase employment, build communities, promote prosperity and general welfare, and eradicate blight across the commonwealth;

It is hereby further found that it is an important function of government, and specifically Massachusetts government land bank and the Massachusetts Industrial Finance Agency, to work toward the successful attainment of said mission.

It is hereby further found that the strengthening of the commonwealth's economy, the conservation of resources the increase of opportunities for gainful employment and the improvement of inadequate and substandard conditions all require that the commonwealth's existing commercial centers be revitalized, and that the availability of public financial assistance, such as is available through the Massachusetts Industrial Finance Agency, is a critical inducement to the revitalization of such deteriorated centers through development projects to create living and working opportunities in such centers as well as to the retention, expansion and location of industrial and commercial enterprises throughout the commonwealth.

It is hereby further found that there exists within the commonwealth underutilized property owned by the commonwealth or the federal government which property is surplus to current and projected governmental needs; there also exists decadent, substandard or blighted open areas in the commonwealth; and there also exists certain public needs including the encouragement of manufacturing, industrial, commercial and economic enterprises and that the development of these properties and the satisfaction of these needs will contribute to the provision of gainful employment and the potential for increased revenue and a more stable economy for the commonwealth and municipalities;

It is hereby further found that since December 1995, the Massachusetts government land bank and the Massachusetts Industrial Finance Agency have been successfully operating as an affiliation doing business as Massachusetts Development Finance Agency.

It is hereby further found that all of the conditions set forth in detail in section 29 of chapter 23A of the General Laws which necessitated the creation of the Massachusetts Industrial Finance Agency and the conditions set forth in detail in section 1 of chapter 212 of the acts of 1975 which necessitated the creation of the Massachusetts government land bank, still obtain and there is need to meet such conditions more efficiently at this time.

It is, therefore, in the best public interest of the commonwealth to promote the prosperity and general welfare of all citizens by stimulating industrial growth and expansion through the retention of existing industries, the attraction of new industries and the promotion of sound economic growth policies through a formal merging of the Massachusetts government land bank and the Massachusetts Industrial Finance Agency.

The advantages to the general public of such merger would include greater efficiencies and savings by focusing the commonwealth's resources toward the common goals of stimulating economic development and industrial growth, increasing employment, promoting prosperity and general welfare, and eradicating blight throughout the commonwealth.

Furthermore, the intent of this act is create the Massachusetts Development Finance Agency as an agency having all of the powers which were vested in the Massachusetts Industrial Finance Agency or the Massachusetts government land bank.

It is therefore expressly declared that the provisions of this act establishing the Massachusetts Development Finance Agency constitutes a merger in the public interest and serves a necessary and valid public purpose for which public money may be expended or invested.

SECTION 24. The General Laws are hereby amended by inserting after chapter 23F the following chapter:-

CHAPTER 23G. THE MASSACHUSETTS DEVELOPMENT FINANCE AGENCY.

Section 1. As used in this chapter, the following words shall have the following meanings, unless the context clearly requires otherwise:

"Agency", the Massachusetts Development Finance Agency established pursuant to section 2.

"Authority", an industrial development financing board.

"Construction", means and includes both construction and acquisition and the term "to contract" means and includes both to construct and acquire.

"Board", the board of directors of the Massachusetts Development Finance Agency.

"Bonds", when used in reference to the Agency, any bonds, notes, debentures, interim certificates, or other financial undertakings for the purpose of raising capital, including, but not limited to, lines of credit, forward purchase agreements, investment agreements and other banking or financial arrangements, issued by or entered into by the Agency pursuant to section 8. "Bonds", when used in reference to a public body, any bonds, notes or other evidences of indebtedness issued by such public body pursuant to any provision of general or special law heretofore or hereafter enacted authorizing the public body to incur debt.

"Cost of the project" and "Costs", the cost of construction, the cost of acquisition of all lands, structures, rights of way, franchises, easements and other property rights and interests and related riparian or water rights, the cost of demolishing, removing or relocating any buildings, structures or utilities on any lands to which such buildings, structures or utilities may be moved or relocated, the cost of all labor, materials, machinery and equipment, financing charges, interest on all bonds prior to and during the carrying out of a project and for a period not exceeding one year after completion thereof, the cost of engineering, financial and legal services, plans, specifications, studies, surveys, estimates of cost and of revenues, other expenses necessary or incidental to determining the feasibility or practicability of projects, administrative expenses, reimbursement to the municipality of advances to the authority under section 19, and for planning costs and other preliminary expenses made for the benefit of but prior to the formation of the authority, and such other expenses as may be necessary or incidental to the projects, the financing thereof, placing of the same in operation and the issuance of bonds under this chapter, including but not limited to the establishment and funding of reserves to secure such bonds.

"Current expenses", the amount of reasonable and necessary current expenses in connection with any project as the same may be more fully defined in the trust agreement relating to a project, and shall in any event include the fees and expenses of the trustee under the trust agreement securing bonds issued to finance such project.

"Economic development project", a project providing public benefits through the establishment, expansion, securing, financing or operating of an industrial, recreational, research and development, commercial or service enterprise or facility, or any parts or combinations thereof, located within or partially within the commonwealth and including, but not limited to, all facilities necessary or desirable in connection therewith or incidental thereto, including provision for working capital.

"Federal Agency", the United States of America, the President of the United States of America, and any department of or corporation, Agency or instrumentality heretofore or hereafter created, designated or established by the United States of America.

"Financing document", an instrument entered into by the Agency with one or more other persons pertaining to the issue or securing of bonds or the application to the purposes of the Agency of proceeds of bonds or other funds of the Agency. A financing document may include, but need not be limited to, a lease, installment sale agreement, conditional sale agreement, mortgage, loan agreement, trust agreement, security agreement, letter of credit, reimbursement agreement, or currency or interest rate swap agreement. A financing document may also be an agreement between the Agency and a lending institution which has agreed to make a loan to a user to finance a project.

"Governing body", in a city having a Plan D or Plan E charter the city manager and the city council and in any other city the mayor and city council, and in towns the board of selectmen.

"Improvement", includes reconstruction, remodeling, rehabilitation, extension, enlargement and "to improve" includes to reconstruct, to remodel, to rehabilitate, to extend, to enlarge and to improve.

"Industrial development facilities" or "facilities", facilities used in connection with any industrial, or research and development enterprise or any part thereof, located within or partially within the municipality creating an authority, including any or all buildings, docks, wharves, ships, improvements, additions, extensions, replacements, appurtenances, land, rights in land, riparian rights, water rights, franchises, machinery, equipment, furnishings, landscaping, utilities, approaches, roadways, energy conservation facilities, facilities designed to reduce consumption of petroleum products and other facilities necessary or desirable in connection therewith or incidental thereto, such as, but not limited to, office, warehouse, terminal, transportation and back-up power generating facilities, which facilities need not merely be in connection with or incidental to other facilities if the operation of such facilities themselves is an industrial enterprise.

"Industrial enterprise", an enterprise engaged in applying skill and labor to the giving of new shapes, new qualities or new combinations to matter as material products or to the assembly, processing, preservation, storage, handling or transportation of manufactured or natural products, or to stationary facilities and equipment necessary or useful in connection with railroad operations, including railroad rights of way and all associated tracks and facilities or to the making of works of art by self-employed artists or to the construction, renovation and equipment of a medical diagnostic imaging facility which has been granted a certificate of need in accordance with the provisions of section 25C of chapter 111 or to the construction and renovation of a nursing or convalescent home licensed under the provisions of section 71 of said chapter 111, including renovations for energy conservation purposes or to the operating of a continuing care facility. Industrial enterprise shall also include the operation of a day care center or a school age child care program, as those terms are defined in section 9 of chapter 28A. Industrial enterprise shall also include an enterprise primarily or incidentally engaged in cogeneration by means of cogeneration facilities or in production of electric energy by means of small power production facilities. In any city or in a town subject to the provisions of clause (k) of subsection (2) of section 12 of chapter 40D, industrial enterprise shall also include commercial enterprise, which shall mean the conduct of a trade or business. Facilities for the use of governmental and nonprofit entities shall be considered facilities to be used in a commercial enterprise, and bonds may be issued under this chapter to finance costs of such facilities, including such costs paid prior to the authorization of such bonds as the board of directors of the Massachusetts Development Finance Agency, referred to in this chapter as the board, shall approve in connection with the provision of such facilities; and for this purpose the term commercial enterprise shall be read to include the operation of such facilities, but the requirements of clause (e) of subsection (2) of said section 12 of said chapter 40A shall not apply if the board determines that the issuance of the bonds will result in a public benefit; provided, however, that the words "industrial enterprise" shall also include an institution. For the purposes of this chapter and of said chapter 40D, as applied to the Agency, an institution shall not be deemed to constitute a commercial enterprise. The board shall not be required with respect to an institution to make the findings set forth in clauses (e) and (k) of said subsection (2) of said section 12 of said chapter 40D if the board finds that the issuance of the bonds will result in a public benefit.

"Development Finance Insurance Fund", the fund established pursuant to section 4.

"Institution", a nonprofit corporation organized to operate a facility or facilities that provide cultural or educational services, but not including (i) a nonprofit hospital within the commonwealth licensed by the department of public health, (ii) a nonprofit health maintenance organization within the commonwealth licensed by the commissioner of insurance, and (iii) a nonprofit nursing home within the commonwealth licensed by the department of public health; provided, however, that any such hospital, health maintenance organization, or nursing home shall be considered to be an institution for the purposes of financing any project approved by the board on or before September 1, 1989; provided, further, that any such hospital, health maintenance organization, or nursing home shall be considered to be an institution for the subsequent refinancing or refunding of any project approved by the board on or before September 1, 1989; and provided, further, that nothing in this definition shall be construed to limit the power or authority of the Agency to provide financing to any person which is otherwise authorized by this chapter or any other provision of law.

"Lending Institution", any bank or trust company; Federal National Mortgage Association; approved mortgage banker; savings bank; credit union; national banking association; insurance company; financial institution or governmental Agency approved by the Agency to participate in the financing of a project.

"Loan", shall include, but not be limited to, industrial mortgage loans, and may include bonds issued under the provisions of section 8 and under chapter 40D.

"Massachusetts Export Finance Fund", the fund established by section 6.

"Massachusetts export finance program" or "export finance program", the program established by section 7.

"Municipality", a city or town or, where the context requires, two or more cities or towns joining together to form an authority to carry out industrial development.

"Person", any natural or corporate person, including bodies politic and corporate, public departments, offices, agencies, authorities and political subdivisions of the commonwealth, corporations, trusts, societies, associations, and partnerships and subordinate instrumentalities of any one or more political subdivisions of the commonwealth.

"Pollution control facilities", facilities for the prevention, avoidance, reduction, control, abatement, elimination or monitoring of pollution of air or of waters by any means by industrial enterprises, public utilities or others, including, but not limited to, any air pollution control facility, noise abatement facility, water management facility, thermal pollution control facility, waste water collection system, waste water treatment works, sewage treatment works, sewage treatment system or site, and including any or all property, rights, franchises and facilities necessary or desirable in connection therewith or incidental thereto.

"Primary employment", work which pays at least one and one-half times the minimum wage, as defined in chapter 151 or as established by federal law, whichever is higher, offers adequate fringe benefits including health insurance, and is not seasonal or part-time.

"Project", shall have the meaning set forth in section 1 of chapter 40D and, when used in reference to a financing pursuant to subsection (b) of section 8 of this chapter, shall also include any economic development project, and, when used in reference to a financing pursuant to subsection (c) of said section 8, shall also include any activity for which a public body is authorized to expend funds and shall also include the issuance of tax- exempt debt instruments for working capital and fuel, supplies, or other items, the cost of which are customarily deemed to result in a current operating charge, for any hospital, health maintenance organization, and nursing home which is considered to be an institution according to the definition of "institution" and for any nursing home for which the Agency is otherwise authorized by law to provide financing.

"Public body", the commonwealth, and any body politic and corporate of the commonwealth, including any political subdivision or instrumentality thereof, which is empowered to issue bonds secured by a pledge of revenues or other special funds or assets, including any municipality or district for which the issuance of debt is governed or limited by the provisions of chapter 44.

"Revenues", any receipts, fees, rentals or other payments or income received or to be received on account of obligations to the Agency under a financing document, including, without limitation, income on account of the leasing, mortgaging, sale or other disposition of a project or proceeds of a loan made by the Agency in connection with any project, and also including amounts in reserves or held in other funds or accounts established in connection with the issuance of bonds and the proceeds of any investments thereof, proceeds of foreclosure and any other fees, charges or other income received or receivable by the Agency other than the industrial mortgage established pursuant to section 4 with respect to a project or the financing thereof. insurance fund

"Solid waste disposal facilities", facilities for the disposal of refuse, garbage and waste or any of the foregoing, by incineration or other means, including any or all property, rights, franchises and facilities necessary or desirable in connection therewith or incidental thereto. Solid waste disposal facilities may include facilities for the manufacture of electricity or steam primarily from solid waste and facilities for the manufacture of electricity from steam produced primarily from solid waste, in either case with pipes, wires, boilers, generators and other equipment incidental thereto. For the purpose of this clause the word "primarily" shall be deemed to mean not less than 90 per cent net thermal units in normal operation. Solid waste disposal facilities may also include additions and modifications to boiler facilities in existence on January 1, 1978, owned or operated by a public utility, which additions or modifications are necessary or desirable to permit any such boiler facility to burn solid waste or a mix of solid waste and other fuel.

"Sponsor", any person endeavoring to secure the assistance of the Agency or of a local authority in financing a project.

"Trust agreement", an agreement or indenture securing one or more series of bonds of an authority and complying with the provisions hereof.

"User", one or more persons, other than a public body, a municipality, a public district or a lending institution, acting as lessee, purchaser, mortgagor or borrower who has obtained or is seeking to obtain financing for a project, either from the Agency or from a lending institution which has obtained or is seeking to obtain funds from the Agency to finance a project and may include a party who transfers the right of use and occupancy to another party by lease, sublease or otherwise.

Section 2. (a) There is hereby created a body politic and corporate to be known as the Massachusetts Development Finance Agency. The Agency is hereby constituted a public instrumentality and the exercise by the Agency of the powers conferred by this chapter shall be deemed to be the performance of an essential governmental function.

The Agency is hereby placed in the executive office of administration and finance but shall not be subject to the supervision or control of said office or of any board, bureau, department or other agency of the commonwealth except as specifically provided in this chapter.

(b) The Agency shall be governed and its corporate powers exercised by a board of directors consisting of the secretary of administration and finance and the director of economic development, or their respective designees, and nine members to be appointed by the governor, one of whom shall be experienced in real estate development, one of whom shall be experienced in commercial or industrial credit, one of whom shall be experienced in mortgage lending, one of whom shall be experienced in banking or investment banking, one of whom shall be experienced in business management, one of whom shall be experienced in real estate law, one of whom shall be experienced in planning and the redevelopment of environmentally contaminated lands, one of whom shall be experienced in employment creation and one of whom shall be a representative of organized labor. Each member appointed by the governor shall serve for a term of three years; provided, however, that of the initial appointed members, four shall serve a term of two years and five for three years. Any person appointed to fill a vacancy in the office of a member of the board shall be appointed in a like manner and shall serve for only the unexpired term of such member. Any member shall be eligible for reappointment. Any member may be removed from his appointment by the governor for cause. The governor shall from time to time designate a member or members of the board as its chairperson or co-chairperson as applicable.

(c) Six of the directors shall constitute a quorum and the affirmative vote of a majority of directors present at a duly called meeting where a quorum is present shall be necessary for any action to be taken by the board. Any action required or permitted to be taken at a meeting of the directors may be taken without a meeting if all of the directors consent in writing to such action and such written consents are filed with the records of the minutes of the meetings of the board. Such consents shall be treated for all purposes as a vote at a meeting.

The members of the board shall serve without compensation, but each member shall be entitled to reimbursement for his actual and necessary expenses incurred in the performance of his official duties.

(d) The provisions of chapter 268A shall apply to all ex-officio directors or their designees and employees of the Agency. The provisions of chapter 268A shall apply to all other directors of the Agency, except that the Agency may purchase from, sell to, borrow from, loan to, contract with or otherwise deal with any person in which any director of the Agency is in any way interested or involved; provided, however, that such interest or involvement is disclosed in advance to the members of the board and recorded in the minutes of the board; and provided further, that no director having such an interest or involvement may participate in any decision of the board relating to such person. Employment by the commonwealth or service in any Agency thereof shall not be deemed to be such an interest or involvement.

(e) The executive director of the Agency shall be appointed and his salary established by the board. The executive director shall be the chief executive, administrative and operational officer of the Agency and shall direct and supervise administrative affairs and the general management of the corporation. The executive director may, subject to the general supervision of the board, employ other employees, consultants, agents, including legal counsel, and advisors, and shall attend meetings of the board.

(f) Neither the Agency nor any of its officers, agents, employees, consultants or advisors shall be subject to the provisions of sections 9A, 45, 46 and 52 of chapter 30, or to chapter 31, or to chapter 200 of the acts of 1976.

(g) The board annually may elect one of its members as vice-chairperson, shall elect a secretary and a treasurer, and may elect or appoint other officers as it may deem necessary, none of whom, other than the vice-chairperson, are required to be members of the board. The secretary shall keep a record of the proceedings of the board and shall be custodian of all books, documents, and papers filed by the board and of its minute book and seal. The secretary shall cause copies to be made of all minutes and other records and documents of the Agency and shall certify that such copies are true copies, and all persons dealing with the Agency may rely upon such certification. The treasurer shall be the chief financial and accounting officer of the Agency and shall be in charge of its funds, books of account and accounting records.

(h) All officers and employees of the Agency having access to its cash or negotiable securities shall give bond to the Agency at its expense in such amounts and with such surety as the board may prescribe. The persons required to give bond may be included in one or more blanket or scheduled bonds.

(i) Board members and officers who are not compensated employees of the Agency shall not be liable to the commonwealth, to the Agency or to any other person as a result of their activities, whether ministerial or discretionary, as such board members or officers except for willful dishonesty or intentional violations of law. Neither members of the Agency nor any person executing bonds or policies of insurance shall be liable personally thereon or be subject to any personal liability or accountability by reason of the issuance thereof. The board of directors may purchase liability insurance for board members, officers and employees and may indemnify said persons against claims of others.

(j) The Agency shall be the successor to the Massachusetts Industrial Finance Agency established under the provisions of chapter 23A and the government land bank established under the provisions of chapter 212 of the acts of 1975. All real estate, property rights, personal property, funds, moneys, revenues, receipts, contract rights or other intangible assets, equipment or other ownership, possessory, or security interests of any kind whatsoever, or any portion thereof held by either said Massachusetts Industrial Finance Agency and said government land bank, including, without limitation, funds previously appropriated by the commonwealth for either said Massachusetts Industrial Finance Agency shall be deemed for record notice and otherwise, as applicable, to belong to the Agency on the same basis and with the same interest as previously held by Massachusetts government land bank or the Massachusetts Industrial Finance Agency, as applicable. Any and all obligations and liabilities of said Massachusetts government land bank and said Massachusetts Industrial Finance Agency shall become obligations and liabilities of the Agency. Any resolution taken by or commitment made by either the Massachusetts government land bank or the Massachusetts Industrial Finance Agency with respect to any financing, including loans, bond issuances, guarantees and insurance and any other action made by either Massachusetts government land bank or the Massachusetts Industrial Finance Agency shall be a resolution, commitment, or action of the Agency.

(k) The Massachusetts Development Finance Agency shall continue as long as it shall have bonds or insurance or guarantee commitments outstanding and until its existence is terminated by law. Upon the termination of the existence of the Agency, all right, title and interest in and to all of its assets and all of its obligations, duties, covenants, agreements and obligations shall vest in and be possessed, performed and assumed by the commonwealth as specifically provided in sections 36 to 40, inclusive.

(l) Any documentary materials or data whatsoever made or received by any member or employee of the Agency and consisting of, or to the extent that such materials or data consist of, trade secrets or commercial or financial information regarding the operation of any business conducted by an applicant for any form of assistance which the Agency is empowered to render or regarding the competitive position of such applicant in a particular field of endeavor, shall not be deemed public records of the Agency and specifically shall not be subject to the provisions of section 10 of chapter 66. Any discussion or consideration of such trade secrets or commercial or financial information may be held by the board in executive sessions closed to the public notwithstanding the provisions of section 11A> of chapter 30A, but the purpose of any such executive session shall be set forth in the official minutes of the Agency and no business which is not directly related to such purpose shall be transacted nor shall any vote be taken during such executive session.

Section 3. (a) The Agency shall have all powers necessary or convenient to carry out and effectuate its purposes, including, without limiting the generality of the foregoing, the powers:

(1) to adopt and amend bylaws, regulations and procedures for the governance of its affairs and the conduct of its business without regard to chapter 30A;

(2) to adopt an official seal;

(3) to sue and be sued, to prosecute and defend actions relating to its properties and affairs, and to be liable in tort in the same manner as a private person; provided however, that the Agency is not authorized to become a debtor under the United States Bankruptcy Code;

(4) to appoint officers and employees and to engage consultants, agents and advisors;

(5) to enter into contracts and agreements and execute all instruments necessary or convenient thereto for accomplishing the purposes of this chapter; such contracts and agreements may include, without limiting the foregoing, construction agreements, purchase or acquisition agreements, loan or lease agreements including agreements conditioned upon the subleasing of the demised premises, partnership agreements including limited partnership agreements, joint ventures, participation agreements or loan agreements with leasing corporations or other financial institutions or intermediaries, and agreements with one or more persons for the servicing of loans made by the Agency including the receipt by such servicer of payments made by a user under a financing document. Any such payments shall constitute trust funds to be held and applied solely as provided in such agreement for the servicing of loans, shall constitute pledged funds of the Agency and shall be entitled to the same protection when received by a person for the servicing of loans, without the need for filing and recording of the servicing agreement under the provisions of chapter 106 or otherwise except in the records of the Agency, as is afforded to funds received by an issuer and pledged to a trustee under section 14 of chapter 40D.

(6) to acquire real and personal property, or any interest in real or personal property, by gift, purchase, transfer, foreclosure, lease or otherwise including rights or easements; to hold, sell, assign, lease, encumber, mortgage or otherwise dispose of any real or personal property, or any interest therein, or mortgage any interest owned by it or under its control, custody or in its possession; to release or relinquish any right, title, claim, lien, interest, easement or demand however acquired, including any equity or right of redemption in property foreclosed by it; to take assignments of leases and rentals, proceed with foreclosure actions, or take any other actions necessary or incidental to the performance of its corporate purposes;

(7) to invest any funds held in reserves or sinking funds, or in the Development Finance Insurance Fund, or any funds not required for immediate disbursement, in such investments as may be provided in any financing document relating to the use of such funds, or, if not so provided, as the board may determine;

(8) to appear in its own behalf before boards, commissions, departments or other agencies of municipal, state or federal government;

(9) to obtain insurance;

(10) to apply for and accept subventions, grants, loans, advances and contributions from any source of money, property, labor or other things of value, to be held, used and applied for its corporate purposes;

(11) to borrow money, issue bonds and apply the proceeds thereof as provided in section 8, in order to implement the purposes of this chapter and, without limiting the generality of the foregoing, to augment the means of securing financing authorized by law for or otherwise available to public bodies and other users;

(12) to lend money to and to acquire or hold obligations issued by public bodies or other users at such prices and in such manner as the Agency shall deem advisable and sell such bonds acquired or held by it at prices without relation to cost and in such manner as the Agency shall deem advisable and to secure its own issues of bonds with such obligations held by it, all as provided in section 8;

(13) to administer federally-insured pollution control loan guaranty programs;

(14) to plan, acquire or lease on a temporary basis facilities and to provide for the construction, reconstruction, improvement, alteration or repair of any facility or part thereof;

(15) to provide and pay for such advisory services and technical assistance as may be necessary or desired to carry out the purposes of this chapter;

(16) to establish and collect such fees and charges as the Agency without appropriation shall determine to be reasonable; and to receive and apply revenues from fees and charges to the purposes of the Agency or allotment by the commonwealth or any political subdivision thereof;

(17) to make loans to any person for the acquisition, construction, alteration, or any combination thereof, or other financing of a project, including but not limited to loans to lending institutions under terms and conditions requiring the proceeds of such loans to be used by such lending institutions for the making of loans to users for qualified projects;

(18) to give assistance to local authorities, public bodies and sponsors through the providing of information, guidelines and suggested forms and procedures for implementing their financing programs;

(19) to prepare, publish and distribute, with or without charge, as the Agency may determine, such studies, reports and bulletins and other material as the Agency deems appropriate;

(20) to exercise any other powers of a corporation organized under chapter 156B; and

(21) to do any and all things necessary or convenient to carry out its purposes and exercise the powers expressly granted in this chapter; provided, however, that nothing herein shall be construed to authorize the Agency to engage directly in the business of a manufacturing, industrial, real estate development or non-governmental service enterprise; and

(22) to issue electric rate reduction bonds, as defined in section 1H of chapter 164, for the benefit of any electric company, as defined in section 1 of said chapter 164, determined to be eligible for said bond financing by the department of telecommunications and energy pursuant to said chapter 164. Such electric rate reduction bonds shall constitute "bonds" for purposes of subsections (d) to (k), inclusive, of section 8 and of section 9.

(23) in addition to the powers specified in clause (6), take possession and manage on behalf of the commonwealth or acquire on its own behalf lands, improvements thereon, and related personal property, hereinafter called lands, or an interest therein, (1) from the United States, which lands, or interest therein, were used for Westover Air Force Base, the Chelsea Naval Hospital, or the Boston Naval Shipyard, including the South Boston Annex, the Boston Army Base and all other lands owned by the United States and used in connection with or for purposes related to the operations of the Boston Naval Shipyard or the Boston Army Base, subject to such restrictions as may be imposed on such acquisition by the United States, and including, without limitation, any other property of the United States lying within the commonwealth and declared surplus by the United States, subject to such restrictions as may be imposed on such acquisition by the United States, hereinafter called the federal surplus lands; (2) from the commonwealth any lands which have been determined to be surplus to direct public uses by the commonwealth or by public agencies, hereinafter called state surplus lands; (3) lands declared decadent, substandard or blighted open areas by the Agency, which lands shall include, but not be limited to areas that are of such a character that they are in essence detrimental to the safety, health, morals, welfare or sound growth of the community in which they are situated because fluctuations in the real estate market, a substantial change in business and economic conditions or practices or the high-risk nature of newly emerging businesses and technologies have rendered the sale or efficient use of existing, new or renovated buildings or facilities thereon impractical without the aids provided herein, or because of an abandonment or cessation of a previous use thereon or the abandonment or cessation of work on improvements, facilities or buildings begun thereon but not feasible to complete or sell without the aids provided herein, or because of the inability of certain businesses and emerging technologies to receive private financing due to the high-risk nature of these businesses and technologies or due to changes in business and economic conditions, or because of any combination of foregoing reasons or other conditions not being remedied by the ordinary operations of private enterprise, hereinafter called blighted lands; and (4) lands declared appropriate by the Agency for the establishment, development, improvement, redevelopment, stabilization, operation or maintenance of small business incubator facilities, including, without limitation, existing small business incubator facilities, hereinafter called incubator development lands and from the United States, lands that were used for Fort Devens or a portion thereof.

(24) engage accountants, architects, attorneys, engineers, planners, real estate experts and other consultants as may be necessary in its judgment to carry out the purposes of this act and fix their compensation;

(25) take any actions necessary or convenient to the exercise of any power or the discharge of any duty provided for by this act;

(26) in addition to the powers specified in clause (6), clear and improve property acquired or held by it and engage in or contract for the construction, reconstruction, demolition, development, redevelopment, rehabilitation, remodeling, alteration or repair thereof;

(27) in addition to the powers specified in clause (6), prior or subsequent to taking possession of or acquiring such lands hold, protect, improve, manage, operate, maintain, repair and use such lands, or any interest therein, as it deems necessary or desirable to facilitate acquisition, disposition, management, operation, development or redevelopment of such lands, or any interest therein.

(28) in addition to the powers specified in clause (6), dispose of such lands, or any interest therein, by sale, lease or otherwise as provided by this act;

(29) in addition to any other power it has to make loans, provide guarantees or mortgage insurance or otherwise provide credit, make and administer loans, provide credit enhancement whether by loan guaranties, letters of credit, insurance or otherwise, and grants of its funds to persons, including without limitation governmental agencies and instrumentalities, and sell participations in said loans or purchase participations in the loans of others, for the acquisition, development, redevelopment, improvement or use of lands described in clause (23), for the construction, rehabilitation, improvement, demolition or maintenance of buildings thereon, for the acquisition, establishment, development, redevelopment, stabilization, management, improvement, maintenance or operation of small business incubator facilities thereon, including, without limitation existing small business incubator facilities, for funding of operating and replacement reserves for such small business incubator facilities, for the capitalization or stabilization of present or future occupants of such small business incubator facilities, and for any other use or purpose necessary or convenient for carrying out the powers expressly granted by this act, on such terms as the Agency may determine to be necessary and consistent with the provisions of this act; provided, however, that any new building construction for a small business incubator facility shall only be considered after exhausting all available alternatives of redevelopment, stabilization and improvement of existing blighted, decadent, distressed and substandard properties.

(30) borrow money by issuance of its debt obligations as provided in section 29;

(31) enter into agreements or other transactions with any person, including without limitation any public entity or other governmental instrumentality or Agency in connection with its powers and duties under this chapter.

(32) in addition to any other power it has hereunder to make loans, provide guarantees or mortgage insurance or otherwise provide credit make or administer loans of funds of other public entities for purposes not inconsistent with the purposes of this act.

(33) in addition to such other powers to own stock or warrants that may be provided hereunder, acquire stock and options or warrants for the purchase of stock in businesses or other public or private entities that are or will be located in a small business incubator facility and sell such stock, options or warrants provided, however, that the Agency shall not acquire more than 49 per cent of the stock of any such business or entity.

Notwithstanding any other provision of this chapter, the Agency shall not be authorized or empowered:

(i) to emit bills of credit or accept deposits of money for time or demand deposit, to administer trusts, to engage in any form or manner in, or in the conduct of, any private or commercial banking business, or to act as a savings bank or savings and loan association;

(ii) to be or to constitute a bank or trust company within the jurisdiction or under the control of the department of banking and insurance of the commonwealth, or the commissioner thereof, the comptroller of the currency of the United States of America or the treasury department thereof; or

(iii) to be or constitute a bank, banker or dealer in securities within the meaning of, or subject to the provisions of, any securities, securities exchange or securities dealers' law of the United States of America or the commonwealth.

The terms "maintain", "maintaining" and "maintenance" wherever the same are used in this chapter shall include but not be limited to the demolition of improvements on lands acquired by the Agency where such demolition is determined by the Agency to contribute to the reduction or to avoid the likelihood of increase of the expense of maintaining or repairing such lands, and to be consistent with disposition of such lands as provided by this chapter.

Section 4. There is hereby established a Development Finance Insurance Fund to which shall be credited all premiums received by the Agency for insurance or reinsurance provided by it under this section and section 5 and not payable for reinsurance or insurance provided by other insurers, any other sums realized by the Agency pursuant to its industrial mortgage loan insurance agreements or related financing documents related to said fund, whether by way of subrogation or otherwise, any state appropriations or other monies made available to the fund and funds from the Industrial Mortgage Insurance Fund established under the provisions of section 33 of chapter 23A. The fund shall be held in the custody of one or more banks or trust companies having a principal place of business in the commonwealth. The fund shall be held for the security of the holders of industrial mortgage loans or reserves or portions thereof insured under section 34, either as a single fund for all such holders or, subject to the rights of the holders of such loans so insured on November 15, 1983, in such separate funds for the holders of such loans, reserves or portions thereof as the Agency may determine. If any fund is established which is separate from that in existence on November 15, 1983, the holders of insured loans secured by such existing fund on November 15, 1983 and the holders of insured loans, reserves or portions thereof secured by such separate fund shall be secured by such existing fund and such separate fund pro-rata, without preference or priority; but the holders of insured loans, reserves or portions thereof secured by a separate fund established after November 15, 1983 shall not be secured by any other such separate fund unless the documents governing such separate fund otherwise provide. The Development Finance Insurance Fund or funds shall be governed by one or more trust agreements entered into by the Agency with the trustees. Each trust agreement may contain provisions and limitations, which need not be uniform, as to the investment and disbursement of monies in the fund or funds to which it applies, the payment of expenses of such funds, the appointment, resignation and discharge of trustees, the delegation of enforcement and collection powers under the insurance agreements to the trustees, the duties of the trustees, amendments of the trust agreement and such other lawful provisions and limitations as may be deemed appropriate. Unless otherwise provided in the trust agreement applicable to any such fund, income earned by such funds may be used for the purposes of the Agency. Without limiting the foregoing but subject to the pro-rata rights of holders of loans insured on November 15, 1983, such trust agreement may require Agency findings and loan criteria in addition to or stricter than those required by section 5; may limit the amount and characteristics of insured loans, reserves or portions thereof to be secured by a fund or funds; may authorize, restrict or prohibit disbursement of monies in the fund or funds for costs of enforcing or preserving the mortgage security under the applicable financing documents, for costs of stop-loss or similar insurance to protect the fund or funds, or for other costs the Agency considers appropriate to maintain the integrity of the fund or funds; may require income earned by the fund or funds to be retained for the benefit of the fund; may provide additional security for holders of particular loans, reserves or portions thereof; and may determine the order in which claims, costs and expenses or categories thereof will be paid from the fund or funds. The trust agreement may pledge premiums and other monies which are to be deposited in the fund or funds. Such pledge shall be valid and binding from the time when the pledge is made. The premiums and other monies so pledged and thereafter received by the fund or funds or on its or their behalf by the trustees shall immediately be subject to the lien of such pledge and shall be valid and binding as against all parties having claims of any kind against the fund or funds, irrespective of whether such parties have notice thereof. No filing need be made under the provisions of chapter 106. Whenever the Agency issues bonds any part of the proceeds of which are used to finance insured loans, reserves or portions thereof, all provisions and limitations which may be contained in a trust agreement governing the Development Finance Insurance Fund or funds may instead or in addition be contained in the resolution or trust agreement securing such bonds, without the need for any filing under the provisions of said chapter 106. Subject to the provisions of the trust agreement securing the same, any holder of the bonds of the Agency the proceeds of which were used to finance the insured loans, and the trustee under any trust agreement securing such bonds shall have the right to bring suit to require the application of any amounts in the Development Finance Insurance Fund in accordance with the provisions of this section or of the trust agreement, including, but not limited to, appointment of a receiver for said Development Finance Insurance Fund or any fund held thereunder.

Section 5. (a) In furtherance of the purposes of the fund established pursuant to section 4, the Agency is, in addition to the powers granted under section 2, is also empowered:

(1) to provide insurance or reinsurance of loans or portions thereof, or their debt service, including amounts payable as premiums or penalties in the event of mandatory or optional prepayment, made to finance the acquisition, construction, rehabilitation or alteration, or any combination thereof, of industrial development facilities, pollution control facilities, and solid waste disposal facilities, and to provide insurance or reinsurance or reserves or portions thereof, or the yield therefrom, established to secure bonds issued to fund such loans or reserves;

(2) to enter into or arrange agreements for such insurance or reinsurance with users, mortgagors, lending institutions, insurers or others, the Agency being authorized to reinsure or cede risks to such insurers in such amounts as the Agency may determine and such insurers, if otherwise authorized to reinsure or insure such risks in the commonwealth, being hereby authorized to reinsure the Agency or cede risks to the Agency to the same extent as if the Agency were a company, as defined in chapter 175, authorized under that chapter to reinsure or insure such risks;

(3) to fix a rate or rates of premium for such insurance or reinsurance, which need not be uniform and may reflect such risks and classifications of risk as the Agency determines to be reasonable; and

(4) to exercise such other powers as are necessary or incidental to the foregoing, including without limitation making conditional or unconditional commitments for such insurance or reinsurance, authorizing such commitments to be pledged or assigned as security for financing and setting appropriate fees therefor.

(b) The insurance and reinsurance provided by the Agency shall not be subject to the provisions of chapter 175, or any successor thereto, shall be payable solely from the Development Finance Insurance Fund established by section 4 and shall not constitute a debt or pledge of the faith and credit of the commonwealth or of any subdivision thereof.

(c) The board shall not approve the insurance or reinsurance of a loan unless it makes the following findings prior to the disbursement of the proceeds of a loan to a user or mortgagor:

(1) that the loan is to be secured by a first mortgage of or first security interest in, real or personal property or both satisfactory to the board; or by the assignment of the interest of the lessee under a real estate lease for not less than 99 years, having a period of not less than 75 years to run from the date of the loan in connection with any such loan, any lending institution providing funds, a letter of credit or other property, or any reinsurer providing reinsurance or a commitment to reinsure such loan, may participate in any such mortgage, security interest or assignment and the proceeds thereof following any default, in such manner and in such order of priority of payment as the board shall determine; any such mortgage, security interest or assignment may be assigned by the Agency or granted to the trustee for any bonds of the Agency sold to provide funds for any such loan;

(2) that the mortgagor and mortgagee are responsible parties;

(3) that if not occupied by the user or mortgagor, the project or projects will, or are likely to be, occupied by a responsible party or parties;

(4) that the provisions of the mortgage loan are reasonable and proper, and in making such determination the board may take into account such factors as it deems relevant including, without limitation, the provisions for maintaining, insuring and repairing the project by the mortgagor and the remedies of the board upon default of the mortgagor;

(5) that the project will provide or retain employment having a reasonable relationship to the principal amount of loans to be insured therefor, taking into account, among other things, the investment per employee of comparable industrial development facilities;

(6) that adequate provision is being or will be made to meet any increased demand upon community public facilities that might result from the project;

(7) that the size and scope of the project is such that a definite benefit to the economy of the commonwealth may reasonably be expected to result from the construction or improvement thereof; and the employment created shall be substantially primary employment;

(8) that the principal amount of the loan, excluding any portion thereof the proceeds of which are to fund reserves and disregarding any other funds or other arrangements obtained for reserve purposes, does not exceed the sum of 90 per cent of the value of the industrial development facility exclusive of machinery and equipment, plus 80 per cent of the cost of the machinery and equipment, plus the reasonable cost of arranging, insuring and issuing bonds to finance such loan as determined by the Agency;

(9) that the duration of the loan shall not exceed 30 years on an industrial development facility exclusive of machinery and equipment and 15 years on machinery and equipment; and that the authorization provisions are satisfactory to the board;

(10) that the insurance or loan agreement provides for subrogation on terms satisfactory to the board upon payment of insured debt service from the fund;

(11) that the public interest is adequately protected by the terms of the loan and of the insurance agreement;

(12) that with respect to all loans on account of a project or projects for any one user or mortgagor, excluding any portions of loans the proceeds of which are to fund reserves and disregarding any other funds or other arrangements obtained for reserve purposes, the debt service or portion thereof including amounts payable as premiums or penalties in the event of mandatory or optional prepayment insured or reinsured by the Agency and not reinsured or insured by other insurers coming due in any one calendar year does not exceed 20 per cent of the amount in the particular fund or funds in the Development Finance Insurance Fund securing such loans when the finding is made; and

(13) that the balance of all loans or portions thereof, excluding portions of loans the proceeds of which are to fund reserves and disregarding any other funds or other arrangements obtained for reserve purposes, insured or reinsured by the Agency and not reinsured or insured by other insurers does not exceed nine times the amount in the Development Finance Insurance Fund when the finding is made.

In addition to the foregoing, the board shall not authorize insurance of a loan for pollution control facilities unless it makes the finding which the finance board is required to make under paragraph (b) of section 22 of chapter 40D.

The board shall consult with the appropriate local and regional planning agencies to ascertain the relationship of a proposed project to any existing local or regional comprehensive plan; that, so far as feasible, the project is to be located in an area of generally high unemployment; and that employment opportunities will become available to the residents of such area.

As used in this section, the terms "industrial development facilities" or "facilities" shall, unless the context requires otherwise, mean facilities used in connection with any industrial enterprises, recreation or research and development enterprises or parts thereof, including any or all buildings, docks, wharves, improvements, additions, extensions, replacements, appurtenances, lands, rights in land, riparian rights, water rights, franchises, machinery, equipment, furnishings, landscaping, utilities, approaches, roadways, pollution control facilities and other facilities necessary or desirable in connection therewith or incidental thereto, such as, but not limited to, office, warehouse, terminal, transportation and backup power generating facilities, and solid waste disposal facilities.

Any insurance or reinsurance provided by the Agency under this section shall be conclusive evidence that the board has made such determinations and findings, has given such approvals and has reached such conclusions as are a prerequisite to providing such insurance or reinsurance and the validity of such insurance or reinsurance shall be incontestable except for fraud or misrepresentation on the part of the mortgagor or user.

Section 6. (a) There is hereby established within the Agency the Massachusetts Export Development Fund, referred to in this section and section 7 as the fund and which shall be the successor to the Massachusetts Export Finance Fund. Said Massachusetts Export Development Fund shall receive state, federal, and private monies and the return from investment generated thereby, and allocate the same for the purposes of the export finance program. Said fund shall consist of a separate account or accounts segregated from other Agency funds and to which shall be credited any state appropriation or funding from any other source, public or private, which may be made available to the fund.

Notwithstanding the provisions of any general or special law to the contrary, the Agency shall utilize the fund, and be empowered to so utilize the fund, as provided in section 7.

(b) The liabilities or obligations of the Agency for any insurance, co-insurance or loan guarantees made pursuant to the Massachusetts export finance program, shall not extend beyond the funds which are allocated and deposited in the fund and shall not constitute a debt or pledge of the faith and credit of the commonwealth or of any subdivision thereof.

(c) Those monies which are deposited in the fund, pending allocation as provided in this section, may be invested in securities issued by the Treasury of the United States government or the government of the commonwealth. Returns from such investments shall be deposited in the fund and shall be used to support loan guarantees, insurance, and co-insurance as provided in section 7 and to defray the administrative and operational costs of the Massachusetts export finance program.

(d) The monies in the fund shall be paid out by the treasurer of the Agency in furtherance of the purposes of this section and section 7.

Section 7. (a) There is hereby established within the Agency the Massachusetts export development program, successor to the Massachusetts export finance program, to expand employment and income opportunities through increased exports of Massachusetts goods and services by providing actual and potential Massachusetts exporters, including in particular small and medium-sized exporters, with insurance, co-insurance, loan guarantees, and information and technical assistance on export opportunities and exporting techniques in support of increased export transactions.

(b) The Agency shall utilize the Massachusetts Export Development Fund, other than as permitted in subsection (c) of section 6, solely to insure, co- insure and guarantee loans related to export transactions, and to make extensions of the same, made pursuant to the provisions of this section and detailed regulations adopted by the board; provided, however, that the Agency shall make no reservation, encumbrance, or disbursement from the fund unless and until said regulations have been reviewed and approved in writing by the secretary of economic affairs. Any determination to insure, co- insure and guarantee loans, or to make an extension of the same pursuant to this section, shall be made by the board.

(c) The Agency may charge fees to defray the operating expenses of the export finance program. The amount of the fees shall be determined by the board.

(d) Loan guarantees and insured export transactions shall be secured by no less than a 30 per cent reserve in the fund. The board may elect to require a higher reserve. The regulations adopted by the board as provided in subsection (b) shall include provisions regarding the terms and limits for loan guarantees to be secured by the fund; provided, however, that in no instance shall a loan guarantee secured by the fund exceed either of the following: (1) 70 per cent of the required financing or (2) $500,000.

(e) The Agency shall make no affirmative determination to insure, co-insure or guarantee any loan or any extension of the same to be secured by the fund unless and until the board has made the following findings of fact, to be incorporated in the formal records of its proceedings:

(1) that borrowers have a minimum equity interest in the business as determined by the board;

(2) that the proposed loan guarantees, insurance and coinsurance will be extended to companies that export goods and services produced primarily in Massachusetts or to companies which export goods and services and which have their principal place of business in Massachusetts;

(3) there exists adequate collateral or security agreements to ensure the full repayment of loan guarantees and solvency of any insurance or co-insurance program extended under this chapter and to assist in evaluating the program;

(4) that, to the extent possible, said loan guarantee or insurance or coinsurance is such that a definite benefit to the economy of the commonwealth may reasonably be expected therefrom; and

(5) that financing assistance secured by the fund shall only be extended in one or both of the following circumstances:

(i) as part of a governmental match which may be required to secure participation of Massachusetts firms in federal, state, or private financing programs;

(ii) if adequate financing assistance is not readily available from public or private sources in a timely manner.

(f) In administering the fund and the export finance program, the Agency shall coordinate to the maximum extent possible with the programs and goals of the United States Export-Import Bank, the International Trade Administration of the United States Department of Commerce, the Foreign Credit Insurance Association, the Massachusetts office of international trade and investment, and other private and public programs, designed to provide export assistance and export-related financing; and assemble, publish, and disseminate information to Massachusetts exporters on export opportunities, techniques of exporting, sources of public and private export assistance, and sources of export-related financing.

(g) No company shall be eligible for a loan guarantee under this section until it complies with the terms of this section.

(h) The Agency shall, prior to making any loan guarantee pursuant to this section comply with the following requirements: (1) develop or distribute written materials and other information it believes appropriate to familiarize any company interested in exporting with how to enter the export market; (2) to distribute said materials and information, the Agency shall present a series of seminars throughout the commonwealth; and, (3) a loan guarantee may only be offered to a company which has attended at least one seminar within one year prior to its application.

(i) Nothing contained in this section shall be deemed to be a pledge of the credit of the commonwealth.

Section 8. (a) The Agency may finance industrial development facilities and pollution control facilities and waste disposal facilities and exercise the powers of an industrial development financing authority under the provisions of chapter 40D throughout the commonwealth and may issue bonds under this subsection (a) in furtherance of these purposes in the same manner provided by said chapter 40D for local authorities. For this purpose the provisions of said chapter relating to local authorities and to municipalities acting by and through them and to their bonds shall apply to the Agency and its bonds except that the following provisions of chapter 40D shall not apply to the Agency: sections 2, 3, 4, 5, 6, the third paragraph of section 8, the fourth paragraph of section 10, section 12, except the findings required to be made under clauses (a) to (k), inclusive of subsection (2), the sixth to eleventh sentences, inclusive, of section 18, section 19 and paragraphs (a) to (e), inclusive, of section 21 and the power of the Agency in this section shall be exercised notwithstanding the provisions of clause (ii) of section 8, sections 9, 10, 13 and 14 of said chapter 40D. Refunding or refinancing of outstanding costs, obligations, mortgages or advances made by an institution in connection with a facility or facilities that provide cultural or educational services prior to the authorization of bonds by the board of the Agency may be financed for any such institution.

With respect to bonds issued for the foregoing purposes under this subsection (a), the Agency shall make the findings required to be made by the Massachusetts Industrial Finance Agency board in said chapter 40D, except that in the case of bond anticipation financing no findings shall be required concerning a trust agreement as specified in clauses (d) and (h) of subsection (2) of section 12 of said chapter 40D. The Agency may issue bonds under this subsection (a) to finance the improvement of any building or buildings for mixed commercial and residential use only if the Agency and the governing body of the municipality in which the project is located find, after a public hearing held not less than ten days after publication of notice thereof in a newspaper of general circulation in such municipality, with respect to the portion of the project to be used for housing, that such portion is located in, or is needed to prevent the area in which it is located from becoming, a substandard, decadent or blighted open area, as defined in section 1 of chapter 121A; that the area will not by private enterprise alone and without either governmental subsidy or the exercise of governmental powers be developed or revitalized in such a manner as will prevent, arrest or alleviate the spread of blight or decay; and that such portion of the project is consistent with the sound needs of the municipality as a whole.

The Agency shall inform sponsors of projects in appropriate cases of available federal programs to guarantee or otherwise assist in financing certain types of activities and shall assist sponsors in such cases in implementing such programs through commercial and investment bankers. When the Agency receives an inquiry from a potential sponsor of a project for financing under this subsection, it shall promptly notify in writing (i) the industrial development financing authority if such an authority exists in the city or town where such project is proposed to be financed; or (ii) the mayor or board of selectmen in said city or town where no such authority exists. In the case of a city or town having an industrial development financing authority the Agency shall provide such authority with all practicable assistance in completing the said project promptly. If, however, the board of the Agency shall find in the exercise of its reasonable discretion that such local authority has not acted in a timely fashion in processing the application of the project's sponsor or other aspects of the project without reasonable grounds for such delay, the Agency may undertake the financing of the project directly with the sponsor without the intervention of the local authority. At any time a city or town may require the Agency to assume the role of an authority in financing a project under this subsection. If a city or town having an industrial development finance authority has rejected, in a timely fashion, a proposed project for financing by such authority under said chapter 40D, it shall notify the Agency of that rejection, and the Agency shall not undertake that project in the city or town.

(b) The Agency may lend money to one or more users to finance economic development projects as an alternative to its authority under subsection (a), and as an incident to any such loan the Agency may enter into financing documents and may acquire and hold any duly authorized payment obligations of such users. The Agency may issue its bonds for financing such loans, provided that no bonds issued by the Agency under the authority of this subsection shall be accompanied by a certificate or legal opinion to the effect that interest on the bonds is excludable from gross income of the recipients for federal income tax purposes. No financing shall be provided by the Agency under this subsection for any project for housing if such financing may be provided by the Agency through the intermediacy of another public body pursuant to subsection (c), and no financing shall be made by the Agency for the purposes of this subsection unless the Agency shall first have determined that:

(i) the user is a responsible party;

(ii) the financing of the project is reasonably expected to stimulate economic growth or stability within the commonwealth and will, as a result, confer a definite benefit on the citizens of the commonwealth, and any private benefit which may be derived from the project will not be so disproportionate as to override the public purpose of stimulating or stabilizing the economy of the commonwealth;

(iii) the project will provide employment, or security against loss of employment, having a reasonable relationship to the principal amount of the Agency's loan therefor;

(iv) the Agency's bonds and any financing document contain reasonable provisions and comply with the provisions of this chapter;

(v) payments to be made under applicable financing documents are adequate to pay the current expenses of the Agency in connection with the project and to make payments on the bonds; and

(vi) the sponsor of the project does not do business in Northern Ireland absent compliance with the McBride Principles, so-called.

(c) The Agency may lend money to one or more public bodies in order to assist said public bodies in carrying out their corporate purposes and as an incident to any such loan the Agency may acquire and hold the bonds, notes or other duly authorized payment obligations of said public bodies. The Agency may issue bonds for the purpose of financing such lending. In financing documents pertaining to such lending, the Agency may require the public body to pay any fixed annual charges and any fees and expenses charged by the Agency for its services rendered in connection with the acquisition by the Agency of such obligation. Upon the issue to the Agency of any obligations of a public body for purposes of this section, the public body issuing such obligations shall be deemed to have agreed that, in the event of the failure of such public body to pay the interest and premium, if any, on, and principal of, such obligations, and notwithstanding the provisions of any other law, the Agency may thereupon avail itself of all remedies, rights and provisions of law applicable in such circumstances, and no delay or failure to exercise any such rights and remedies on the part of the Agency may be raised as a defense by such public body.

No loan shall be made by the Agency for the purposes of this subsection unless the Agency shall have first received assurance satisfactory to the Agency that the payment obligations of the public body to be acquired by the Agency in connection with such loan are valid and binding obligations of the public body enforceable in accordance with their terms; provided, however, that the provisions of this act shall not be construed to expand the power or purpose of any public body except the Agency.

(d) The Agency shall provide for issuance of its bonds from time to time by resolution of the board of directors. An issue of bonds of the Agency may combine more than one of the Agency's authorized purposes for borrowing money. Bonds issued by the Agency may be issued as general obligations of the Agency or as special obligations payable solely from particular revenues or funds as may be provided for in any financing document pertaining thereto. Bonds of each issue may be dated, may bear interest at such rate or rates, including rates variable from time to time, may be payable in any domestic or foreign currency and at any domestic or foreign location, and may mature or otherwise be payable at such time or times, as may be provided for by the Agency, and may be made redeemable or determinable before maturity at the option of the Agency or the holder thereof at such price or prices and under such terms and conditions as may be fixed by the Agency. The Agency shall determine the form of bonds, including interest coupons, if any, to be attached thereto, and the manner of execution of such bonds, and shall fix the denomination or denominations of such bonds and the place or places of payment of principal, redemption premium, if any, and interest thereon. In case any officer whose signature or a facsimile of whose signature shall appear on any bonds or coupons shall cease to be such officer before the delivery thereof, such signature or facsimile shall nevertheless be valid and sufficient for all purposes as if such officer had remained in office until delivery. The Agency may provide for authentication of bonds by a trustee, fiscal agent, registrar or transfer agent. Bonds may be issued in bearer or in registered form, or both, and, if notes, may be made payable to bearer or to order, as the Agency may determine, and provision may be made for the registration of any coupon bonds as to principal alone and also as to both principal and interest, for the reconversion into coupon bonds of bonds registered as to both principal and interest and for the interchange of bonds registered as to both principal and interest and for the interchange of registered and coupon bonds. The Agency may also establish and maintain a system of registration for any bonds whereby the name of the registered owners, the rights evidenced by the bonds, the transfer of the bonds and such rights and other similar matters are recorded in books or other records maintained by or on behalf of the Agency, and no instrument evidencing such bond or rights need be delivered to the registered owner by the Agency. A copy of the books or other records of the Agency pertaining to any bond registered under such registration system certified by an authorized officer of the Agency or by the agent of the Agency maintaining such system shall be admissible in any proceeding without further authentication. The board may by resolution delegate to any director or directors or officer or officers of the Agency or any combination thereof the power to determine any of the matters set forth in this section. In the discretion of the Agency, bonds of the Agency may be issued with such terms as will cause the interest thereon to be subject to federal income taxation. The Agency may sell its bonds in the manner, either at public or private sale, for the price, at the rate or rates of interest, or at discount in lieu of interest, as it determines will best effect its corporate purposes. The Agency may issue bonds for any of its authorized purposes without obtaining a certificate of convenience and necessity from the department of commerce and development. Notwithstanding the provisions of subsections (a) and (b), the bonds of any such issue may be issued prior to the making by the Agency of the findings required to be made, provided that the board makes such findings prior to the disbursement of the proceeds of a loan to a user or a public body.

(e) Said Agency may issue interim receipts or temporary bonds, with or without coupons, exchangeable for definitive bonds when the bonds shall have been executed and are available for delivery. The Agency may also provide for replacement of any bonds which shall have become mutilated or shall have been destroyed or lost. The Agency, by itself or through such agent as it may select, may purchase and invite offers to tender for purchase any bonds of the Agency at any time outstanding; provided, however, that no such purchase by the Agency shall be made at a price, exclusive of accrued interest, if any, exceeding the principal amount thereof or, if greater, the redemption price of such bonds when next redeemable at the option of the Agency, and may resell any bonds so purchased in such manner and for such price as it may determine will best effect its corporate purposes.

(f) Without limiting the powers of the Agency contained elsewhere in this chapter or in chapter 40D, in connection with any such issue of bonds, the Agency may create and establish one or more special funds, hereafter referred to as "bond reserve funds", and may establish one or more costs of issuance accounts, and shall pay into each such bond reserve fund or costs of issuance account any proceeds of sale of bonds or letter of credit or insurance policy or other financing document as may be provided in the resolution authorizing the issuance of, or financing document securing, such bonds and any other moneys which may be available to the Agency for the purpose of each such fund or account from any other source or sources. Whenever the Agency issues such bonds to fund reserves or costs of issuance, it may determine whether or not the cost of funding such reserves or costs of issuance, shall be treated as a cost of the project and whether or not a financing document shall be required to provide payments to amortize principal and interest of such bonds. In any event, the expected yield on bond reserve funds may, with the approval of the Agency, be taken into account in determining the sufficiency of payments required under a financing document to amortize bonds issued for costs of the project. All moneys held in any bond reserve fund may be pledged to, and charged with, the payment of the principal of and the interest on the bonds with respect to which such bond reserve fund may be established, as the same shall become due, and the redemption or purchase price of such bonds retired by call or purchase as therein provided. Such pledge shall be valid and binding from the time when the pledge is made. The use and disposition of moneys to the credit of such bond reserve fund shall be subject to the provisions of the resolution authorizing the issuance of, or financing document securing, such bonds. Except as may otherwise be provided in such resolution or such financing document, such bond reserve fund shall be a fund for bonds issued to finance all such projects without any distinction or priority of any bond over another; provided the Agency in any such resolution or financing document may provide that such bond reserve fund shall be the fund for a particular project and for the bonds issued to finance a particular purpose and may, additionally, permit and provide for the issuance of bonds having subordinate lien in respect of the security authorized to other bonds of the Agency and, in such case, the Agency may create separate or other similar funds in respect of such subordinate lien bonds.

(g) In the discretion of the board of directors, any bonds issued hereunder may be secured by a financing document in such form and executed in such manner as may be determined by the board of directors between the Agency and the purchasers or holders of such bonds or between the Agency and a corporate trustee which may be any trust company or bank having the powers of a trust company within or without the commonwealth. Such financing document may pledge or assign, in whole or in part, the revenues and funds held or to be received by the Agency, and any contract or other rights to receive the same, whether then existing or thereafter coming into existence and whether then held or thereafter acquired by the Agency, and the proceeds thereof. Such financing document may contain such provisions for protecting and enforcing the rights, security and remedies of bondholders as may be reasonable and proper, including, without limiting the generality of the foregoing, provisions defining defaults and providing for remedies in the event thereof which may include the acceleration of maturities, restrictions on the individual right of action by bondholders and covenants setting forth duties of and limitations on the Agency in conduct of its programs and the management of its property. In addition to other security provided herein or otherwise by law, bonds issued by the Agency may be secured, in whole or in part, by financial guarantees, by insurance or by letters of credit issued to the Agency or a trustee or any other person, by any bank, trust company, insurance or surety company or other financial institution, within or without the commonwealth, and the Agency may pledge or assign, in whole or in part, the revenues and funds held or to be received by the Agency, and any contract or other rights to receive the same, whether then existing or thereafter coming into existence and whether then held or thereafter acquired by the Agency, and the proceeds thereof, as security for such guarantees or insurance or for the reimbursement by the Agency to any issuer of such letter of credit of any payments made under such letter of credit.

(h) It shall be lawful for any bank or trust company to act as a depository or trustee of the proceeds of bonds, revenues or other moneys under a resolution, financing document or other agreement of the Agency and to furnish indemnification and to provide security as may be required by the Agency. Any pledge of revenues and other funds made by the Agency under the provisions of this chapter shall be valid and binding and shall be deemed continuously perfected for the purposes of the uniform commercial code and other laws when such pledge is made. The revenues and funds, rights therein and thereto and proceeds so pledged and then held or thereafter acquired or received by the Agency shall immediately be subject to the lien of such pledge without any physical delivery or segregation thereof or further act, and the lien of any such pledge shall be valid and binding against all parties having claims of any kind in tort, contract or otherwise against the Agency, whether or not such parties have notice thereof. The resolution or financing document by which a pledge is created need not be filed or recorded to perfect such pledge except in the records of the Agency and no filing need be made under the uniform commercial code. It is hereby declared that any pledge or assignment made under the authority of this chapter is an exercise of the political and governmental powers of the Agency, and revenues or funds, contract or other rights to receive the same and the proceeds thereof which are subject to the lien of a pledge or assignment created under this chapter shall not be applied to any purposes not permitted by such pledge or assignment.

(i) Any holder of a bond issued by the Agency or of any of the coupons appertaining thereto and any trustee or other representative under an applicable financing document pertaining to the same, except to the extent the rights herein given may be restricted by a financing document, may bring suit upon the bonds or coupons and may, either at law or in equity, by suit, action, mandamus, or other proceeding for legal or equitable relief, including proceedings for the appointment of a receiver to take possession and control of the business and properties of the Agency, to fix, revise and collect charges, protect and enforce any and all rights under the laws of the commonwealth or granted hereunder or under a resolution or financing document, and may enforce and compel performance of all duties required by this chapter or by such bond resolution, trust agreement or other agreement, to be performed by the agent or by any officer thereof.

(j) Bonds issued by the Agency shall not constitute a debt or a pledge of the faith and credit of the commonwealth, but shall be payable solely from the revenues provided for under a financing document in connection therewith or from reserve funds or other funds of the Agency or from funds derived from the issuing of duly authorized refunding bonds. All bonds issued by the Agency shall suitably state that the bonds are not an obligation of the commonwealth but are payable solely from the funds specifically pledged for their payment.

(k) The Agency may issue refunding bonds for the purpose of paying any of its bonds issued under the provisions of this chapter or other applicable law at or prior to maturity or upon acceleration or redemption or purchase and retirement. Refunding bonds may be issued at such times at or prior to the maturity, redemption or purchase and retirement of the refunded bonds as the board deems to be in the interest of the Agency. Refunding bonds may be issued in sufficient amounts to pay or provide for payment of the principal of the bonds being refunded, together with any redemption premium thereon, any interest or discount accrued or to accrue to the date of payment of such bonds, the costs of issuance of the refunding bonds, the expenses of paying, redeeming or purchasing the bonds being refunded, the costs of holding and investing proceeds of refunding bonds pending such payment, redemption or purchase and such reserves for debt service or other capital or current expenses from the proceeds of such refunding bonds as may be required by a bond resolution, financing document or other agreement securing bonds. The issue and sale of refunding bonds issued pursuant to this subsection, the maturities and other details thereof, the security therefor, the rights of the holders thereof, and the rights, duties and obligations of the Agency in respect of the same shall be governed by the provisions of this chapter relating to the issue of bonds other than refunding bonds insofar as the same may be applicable.

Section 9. The bonds of the Agency and any loan or extension of credit which is the subject of insurance or reinsurance or an insurance or reinsurance commitment pursuant to sections 4 and 5, shall be legal investments in which all public officers and public bodies of the commonwealth, its political subdivisions, all municipalities and municipal subdivisions, all insurance companies and associations and other persons carrying on an insurance business, all banks, banking associations, trust companies, savings banks and savings associations, including cooperative banks, building and loan associations, investment companies and other persons carrying on a banking business, and all other persons whatsoever who are now or may hereafter be authorized to invest in bonds or other obligations of the commonwealth, may properly and legally invest funds, including capital, in their control, or belonging to them. The bonds and any loan or extension of credit which is the subject of insurance or reinsurance or an insurance or reinsurance commitment pursuant to said sections 4 and 5 are also hereby made securities which may properly and legally be deposited with and received by all public officers and bodies of the commonwealth or any Agency or political subdivisions thereof and all municipalities and public corporations for any purpose for which the deposit of bonds or other obligations of the commonwealth is now or may hereafter be authorized by law.

Section 10. The books and records of the Agency shall be subject to a biennial audit by the auditor of the commonwealth.

Section 11. The Marine Seafood Processing Revolving Loan Fund established under the provisions of section 38A of chapter 23A shall be under the control of the Massachusetts Development Finance Agency but shall consist of a separate account or accounts segregated from other Agency funds, to which shall be credited any appropriations made to the Agency for seafood processing industry purposes, together with such other accounts as may become available from any other source. The Agency may from time to time withdraw from the Marine Seafood Processing Loan Fund such amounts as may be necessary to provide funds for the administration of this section and sections 13 and 14. No funds shall be appropriated nor credited to the fund until the advisory council established pursuant to paragraph (a) of section 12, has filed an approved, recommended program with the clerks of the senate and the house of representatives and with the commissioner of administration.

Section 12. The Massachusetts Development Finance Agency may establish rules and regulations relative to the Marine Seafood Processing Revolving Loan Fund.

In addition thereto the Agency is hereby authorized to:

(a) establish a marine seafood processing loan fund advisory council, which shall consist of seven members, three members to be appointed by the Massachusetts Development Finance Agency board of directors, experienced in business and finance, who may also be members of the Massachusetts Development Finance Agency board, two members appointed by the commissioner of banks who are experienced in banking or marine financing, and may include the commissioner of banks or his designee, two members appointed by the commissioner of fisheries and wildlife who are experienced in marine food processing or marine affairs, and may include the commissioner or his designees, said council shall act in an advisory capacity to the Massachusetts Development Finance Agency board in matters relative to the financing of marine seafood processing loan applications and said council may review and provide technical comments regarding each loan application submitted to the Massachusetts Development Finance Agency board for approval.

Said council shall, after providing due notice and opportunity for a hearing, recommend a program to provide sources of funds, including, but not limited to, federal, state or private funding, and issuance of debt or industry assessments for the Marine Seafood Processing Revolving Fund. Such recommended program shall, after approval by the board of directors of Massachusetts Development Finance Agency, be filed with the clerks of the senate and the house of representatives and with the commissioner of administration.

(b) upon application of an industrial enterprise engaged in the collection or processing of seafood, make loans of moneys held in the Marine Seafood Processing Loan Fund and provide for the repayment and redeposit of such allocations and loans in the manner hereinafter provided:

(1) not more than $200,000 shall be loaned to any one enterprise. If the board determines, after the initial loan by the Agency, that additional moneys are required to protect the initial loan of the Agency, it may approve an additional loan not to exceed the amount of the initial loan; the processor may use the proceeds of the loan for the purposes of financing operations, inventory, or such other purposes as may be approved by the board;

(2) upon default, take title by foreclosure proceeding to any marine processing project to recover any loan previously made therefor by the Agency and pay all costs arising out of such foreclosure and acquisition from moneys held in the Marine Seafood Processing Loan Fund and sell, transfer and convey any such marine processing project to any responsible buyers in the event such sale, transfer or conveyance cannot be affected within a reasonable time. The Agency may lease such facilities to a responsible tenant or tenants to minimize financial losses and sustain employment. The Agency shall not lease marine processing facilities except under the conditions and for the purposes cited herein;

(c) finance marine seafood processing projects which shall be in addition to any other power of the Agency; provided, however, that nothing with respect to the Marine Seafood Processing Loan Fund shall be construed to limit or otherwise affect any other power of the Agency.

Section 13. The board of directors of the Agency may, upon application by a marine seafood processor, grant a loan based upon its finding that it will contribute to the economic stimulation of the company, support the growth of the seafood industry as a whole, and is consistent with its public purpose.

Any seafood processor may make an application to the Agency in a form approved by the Agency which shall contain at least the following:

(1) a general description of the company, including but not limited to, a business plan, corporate history, last audited financial statement and an inventory of equipment owned or to be purchased;

(2) a general description of the number, type and class of employees employed or to be employed in the operation and the total of salary expenditures;

(3) a description of all real estate held or used in conjunction with the applicant's business, including leased facilities and a list of encumbrances thereon;

(4) evidence that the loan will enhance seafood production, and the efficient operation of the facility, and also increase or retain employment;

(5) such other financial information as the Agency shall deem necessary including personal financial information of the applicant and principals of the applicant.

The powers, rights and funds granted to the Agency in this section and in sections 11 and 12 shall in no way derogate or diminish any other power or right of the Agency granted elsewhere, including without limitation, the Agency's power to make loans consistent with this chapter to seafood processors with funds other than those contained in the Marine Seafood Processing Loan Fund.

Section 14. Whenever the United States shall give notice that any lands, or any interest therein, are available for disposal or make advertisement for bids with respect to such lands, or such interest, the Agency as successor to the Massachusetts government land bank, may take whatever steps are required by federal law or regulations to acquire such lands, or such interest; provided, however, that the Agency shall, within one year from such notice or such advertisement, make no offer or bid to acquire such lands in competition with that of any municipality or municipalities, or any designee thereof, within which such land lies, unless such offer or bid is necessary, in the judgment of the Agency, to prevent acquisition of such lands, or such interest, other than by such municipality or municipalities, or any designee thereof, or the Agency. Upon the recording of a deed conveying to the Agency all of the interest of the United States of America in and to any lands included within the United States Navy Yard, Boston, Massachusetts, title to which was granted by the commonwealth to the United States of America by and pursuant to chapter 535 of the acts of 1941, all right, title and interest of the commonwealth in and to any such lands shall pass to the Agency.

Section 15. Notwithstanding any provision of general or special law to the contrary, upon the recording in the Suffolk county registry of deeds of a deed or deeds from the United States of America conveying to the Agency or to the Boston Redevelopment Authority as grantee all or any portion of the premises within the United States Navy Yard, Charlestown section of Boston, Massachusetts, now owned in part by the United States of America and in part by the Boston Redevelopment Authority, bounded northwesterly by Little Mystic Channel, easterly and southeasterly by the main channel of Boston Inner Harbor, southwesterly by the Charles River and northwesterly by the lands of others: (a) it shall be deemed conclusively that jurisdiction to said premises vested in the United States of America in accordance with the terms of any special acts whereby the commonwealth ceded jurisdiction to said premises to said United States and, further, that said United States has complied with all conditions imposed by such acts; (b) all right, title and interest of the commonwealth in and to any such premises shall pass to and vest in the grantee, establishing fee simple absolute title in the grantee, all without further evidence of conveyance by the commonwealth and all interests of the commonwealth are hereby ratified and confirmed in the respective grantees of any such deed or deeds of all or any portion of these premises so recorded prior to the enactment hereof; and (c) all licenses and authority to place fill, to maintain existing fill, to build and maintain bulkheads, to drive piles, to build, extend and widen wharves, piers and other structures on piles or on other support structures or to construct other structures heretofore or hereafter granted under the applicable provisions of chapter 91 of the General Laws and all actions of the United States of America taken in respect to placing and maintaining fill or building and maintaining bulkheads, piles, wharves, piers or other structures completed prior to the date of enactment hereof, whether or not so placed, built or maintained in accordance with the applicable provisions of any general or special act, deed, grant or other instrument authorizing or conveying the same and whether or not so placed, built or maintained in accordance with any plans that may have been filed or required to be filed with the commonwealth or any Agency or political subdivision thereof, all with respect to said premises, shall be irrevocable and ratified and confirmed in place, the commonwealth hereby waiving any right or claim of action it might have for the recovery of said land or any interest therein below high water mark to or in such fill or appurtenant structures or to restrict the use of same.

Section 16. The Agency may take possession of or acquire blighted lands or incubator development lands or an interest therein or make loans, loan guarantees or grants for the redevelopment of blighted lands only after a public hearing and a determination by the Agency that such lands are decadent, substandard or blighted open areas.

The Agency may dispose of federal surplus, blighted or incubator development lands or an interest therein only after approval of a redevelopment plan for federal surplus or blighted lands, or an incubator development plan for incubator development lands by the board of directors of the Agency, which approval shall not occur until a public hearing is held on said redevelopment or incubator development plan and provided such lands shall be developed or redeveloped in accordance with said redevelopment plan or incubator development plan. The Agency shall not approve a redevelopment or incubator development plan for such lands within one year of the acquisition or possession by the Agency of such lands or an interest therein unless the city council, board of aldermen or board of selectmen of the municipality or municipalities in which the lands lie have approved said redevelopment or incubator development plan. The Agency may extend the one year period by petition of any municipality wherein the lands are located.

The Agency may take possession of or acquire state surplus lands or an interest therein only after approval of a redevelopment plan for such lands by the board of directors of the Agency, the city council, board of aldermen or board of selectmen of the municipality or municipalities in which the lands lie, and the deputy commissioner of capital planning and operations, which approvals shall not occur until a public hearing is held on said redevelopment plan. Such lands shall be developed or redeveloped in accordance with said redevelopment plan and if a formal competitive process will not be the method utilized for the disposition of such lands or interests to a private person or entity, the Agency shall disclose the reasons therefore in the central register published by the secretary of state prior to such disposition.

The Agency shall, in accordance with section 3 of chapter 30A of the General Laws, establish general rules and regulations governing the evaluation and selection criteria for development proposals for all state surplus lands acquired by it, prior to the acquisition of any state surplus lands by the Agency.

No redevelopment or incubator development plan shall be approved by the Agency unless the Agency finds that such plan provides for the development, redevelopment, operation, or maintenance of the lands, in whole or in part, substantially for institutional, governmental industrial, commercial or residential uses which will prevent or eliminate blight, economic dislocation, economic distress, or unemployment, or for the construction or rehabilitation upon the lands or decent, safe and sanitary housing, at least 25 per cent of which shall be made available to persons of low and moderate income, or for such other public purposes as the Agency may determine are generally consistent with the provisions of this chapter; that such plan is consistent with the sound needs of the locality as a whole, with particular regard to the prevention of blight, economic dislocation and unemployment or the alleviation of the shortage of such housing; that such plan is financially sound; and that such plan meets such other requirements as the Agency may by regulation establish.

No redevelopment or incubator development plan shall be materially amended unless the public hearing and approval procedures as specified in this section for redevelopment or incubator development plans are complied with prior to any such amendment.

Redevelopment or incubator development plans shall contain a general description of the lands and of the purposes for which the lands will be developed, redeveloped, operated or maintained, the anticipated financing sources for said development, redevelopment, operation or maintenance and the role of the Agency in and the anticipated public benefits and public subsidies that will result from the development, redevelopment, operation or maintenance of such lands. If a redevelopment plan is for state surplus lands, said plan shall also contain a description of (a) any reuse restrictions imposed by the general court or the deputy commissioner of capital planning and operations and how said restrictions will be enforced by the Agency; and (b) the disposition process to be utilized for such lands.

Any required public hearings need not be adjudicatory hearings as provided by chapter 30A. Notice for said public hearings must be published in a daily newspaper of general circulation in the area in which the land is located at least seven days prior to said hearings and the requirements of sections 11A and 11B of said chapter 30A shall be met. At least seven days prior to public hearings on redevelopment or incubator development plans, said plans shall be available for public review at the offices of the Agency.

The provisions of this section shall apply only to the exercise by the Agency of its powers under clause (23) and clauses (26) to (29), inclusive of section 3.

Section 16A. The department of environmental management shall designate the walking track located at the Quinsigamond state park in the city of Worcester as the, "State Representative Andrew Collaro walking track"; provided, however, that the tennis courts located in said state park shall be designated as the "Senator Daniel J. Foley tennis courts".

Section 16B. Notwithstanding the provisions of any general or special law to the contrary, North Shore Community College, with the approval of the board of higher education, may borrow an amount not to exceed $12,000,000 through the Massachusetts Health and Educational Facilities Authority or any other authorized funding source.

Section 16C. The department of fisheries, wildlife and environmental law enforcement may take by eminent domain under chapter 79 of the General Laws for endangered species habitat and open space protection purposes a portion of the registered and unregistered land in Dennis, Barnstable county, Massachusetts, taken by the Dennis Water District, a body politic, for water well protection purposes described in an Order of Taking dated May 6, 1996 and recorded in the Barnstable county registry of deeds in book 10191 at page 272 and registered as document numbered 665160, which portion to be taken by the department shall be shown on a plan of land to be prepared by said department.

Section 17. Any disposition of lands, or an interest therein, which were acquired by the Agency pursuant to section 16 may be made in such manner whether by sale, lease, or otherwise, by parcels which are the same as or different from those by which they were acquired or taken possession of by the Agency, and for such price, rental or other consideration payable over such term, and bearing interest as to deferred payments and secured in such manner, by mortgage or otherwise, all as the Agency may determine to be desirable and consistent with any applicable provisions of any applicable redevelopment or incubator development plan.

Prior to the disposition of state surplus lands or an interest therein which were acquired by the Agency pursuant to section 16 to a natural person or entity, the Agency shall undertake an independent determination of the value of such lands through procedures customarily accepted by the appraising profession as valid for determining property value. If such disposition is for consideration which is less than such value, the Agency shall, prior to such disposition, disclose in the central register published by the secretary of state the difference between the value of such parcel and disposition price of such parcel and by notice to the house and senate committees on ways and means.

The Agency may, in accordance with the provisions of section 2 of chapter 30A of the General Laws, adopt such rules and regulations as it may deem desirable for the exercise of its powers and the discharge of its duties as provided in this section.

Section 18. There shall be established and set up on the books of the commonwealth a separate fund, to be known as the Government Land Bank Fund. There shall be credited to said fund the following:

(a) after deducting the administrative expenses of the Agency, all principal and interest received by the Agency under a mortgage made by the Agency's predecessor, the Massachusetts government land bank, financed by the proceeds of an industrial development bond or note as such term, or a successor term of comparable import, is defined by the Internal Revenue Code of 1954, issued by the commonwealth on behalf or for the purposes of one of the said Massachusetts government land bank.

(b) monies transferred from the reserves of the Agency pursuant to a vote of the board of directors of the Agency;

(c) all monies transferred pursuant to an authorization by the general court or by law.

Revenue credited to the Government Land Bank Fund shall be used for debt service on bonds and notes issued by the commonwealth on behalf of the Agency's predecessor, the Massachusetts government land bank, or upon appropriation by the general court.

The comptroller of the commonwealth shall quarterly file a report with the house and senate committees on ways and means and the secretary of administration and financing detailing the balance of the fund.

The proceeds of an industrial development bond as such a term, or a successor term of comparable import, is defined by the Internal Revenue Code of 1954 issued after September 1, 1982 by the Agency's predecessor, the Massachusetts government land bank, shall not be used to reduce any deficit existing in said fund.

The provisions of this section shall not apply to any bond issued by the Agency's predecessor, the Massachusetts Industrial Finance Agency nor to any bond issued by the Agency.

Section 18A. The commonwealth shall remain liable for the payment of bonds issued under section 8A of chapter 212 of the acts of 1975, as amended, and for contract assistance obligations under section 8B of said chapter 212 in respect of bonds issued prior to the enactment of this act, each to the same extent as before the enactment of this act.

Section 19. The Agency may make grants and undertake financing transactions under the provisions of clause (29) of section 3 only upon the approval by the Agency of an application containing the following information:

(a) identification of the applicant;

(b) a description of the project including a financing plan;

(c) a description of how the Agency's interest will be secured; and

(d) a description of the public benefits to be derived from the project.

No such application shall be approved by the Agency unless the Agency finds that the transaction represented in such application provides for the capitalization or stabilization of a business that is or will be located in a small business incubator facility or for the acquisition, development, improvement, redevelopment, operation, maintenance or use of lands, in whole or in part, or the construction, rehabilitation, demolition or maintenance of the buildings thereon, or the acquisition, establishment, development, improvement, redevelopment, stabilization, management or operation of small business incubator facilities thereon, substantially for industrial, commercial or residential uses which will prevent or eliminate blight, economic dislocation, economic distress or unemployment, or for the construction, rehabilitation or maintenance upon such lands of decent, safe and sanitary housing, at least 25 per cent of which will be made available to persons of low and moderate income, or for such other public purposes as the Agency may determine are generally consistent with the provisions of this chapter; that such project is consistent with the sound needs of the locality as a whole, with particular regard to the prevention of blight, economic dislocation, economic distress or unemployment, or the alleviation of the shortage of such housing; that such project is financially sound; and that such project meets such other requirements as the Agency may by regulation establish.

Section 20. The small business incubator facilities that receive financial assistance from the Agency shall not be located within a 25 mile radius of another small business incubator project approved by the Agency.

Section 21. In addition to other requirements contained in this chapter, each incubator development plan or loan, loan guarantee or grant application related to a small business incubator facility shall:

(i) make provision for a professional business manager or be accompanied by a contract between a professional management service and the incubator sponsor. Said business management contract shall include whenever possible but not be limited to the regional Small Business Development Centers established pursuant to 15 USC 648, if such assistance is provided without charge to said sponsors;

(ii) contain a needs analysis demonstrating a shortage of small units of industrial space for businesses in the service area of the proposed facility; and

(iii) adequately demonstrate the capacity of the recipient to make or administer loans or investments to capitalize businesses that are or will be served by said facility.

Section 22. Before approving an application to a small business incubator facility, the incubator sponsor shall require that an applying business must show evidence of the following:

(1) the business applying for financial aid has a clearly developed business concept or prototype;

(2) the business has a reasonable chance of being commercially successful;

(3) the financial aid provided by the Agency shall be used to further commercialization of the business including, but not limited to, the further development of the business; the construction of a prototype, the development of a manufacturing process to produce, or to implement a marketing or distribution strategy for the product;

(4) financial aid by the Agency is necessary for the commercial development of the business because funding for such commercial development of the business is only available on terms that would substantially hinder its successful commercial development; and

(5) the employment created or maintained by commercial development and production of the business will be in the commonwealth.

The incubator sponsor shall only permit eligible businesses, including, without limitation small businesses located in existing small business incubator facilities, to be tenants in such incubator facility.

For the purposes of this section, the word "business" shall mean any individual, firm, corporation, partnership, trust or other legal entity, in the process of formation or starting as a new business, engaged in, but not limited to, the research, development and construction of a prototype, the development of a manufacturing process to produce the product or to implement a marketing or distribution strategy for the product, including a business located in an existing incubator facility or an existing business which demonstrates a significant diversification of its product line.

Section 23. The incubator sponsor shall require tenant businesses to leave the incubator facility within five years. The incubator sponsor, upon determination by the governing board of the incubator facility, may allow a tenant business a limited extension of time beyond the five year period to remain in the incubator. The considerations shall include, but not be limited to, available space in the facility; the achievement of financial viability within the extension period; and the inadequacy or lack of affordable space, with good faith substantiation of an effort to secure reasonable relocation space.

Section 24. The state treasurer may borrow from time to time on the credit of the commonwealth such sums of money as may be necessary, but not exceeding, in the aggregate, the sum of $40,000,000, for the purposes of acquisition, holding, protection, maintenance, repair or use of lands or for provision of personnel and administrative cost of the Agency as provided by this chapter, and may issue and renew from time to time bonds or notes of the commonwealth therefor bearing interest at such times and at such rate as shall be fixed by the state treasurer. Such notes shall be issued and may be renewed one or more times for such terms, not exceeding one year, as the governor may recommend to the general court in accordance with Section 3 of Article LXII of the Amendments to the Constitution of the Commonwealth. All payments on account of principal on such notes shall be repaid from the Government Land Bank Fund; provided, however, that notwithstanding any provision of this chapter, such notes shall be general obligations of the commonwealth.

Section 25. To provide for the acquisition, holding, protection, maintenance or use of lands as provided by clause (29) of section 3, to provide for making loans, loan guarantees and grants provided by this chapter, to provide for personnel and administrative costs of the Agency, to provide for costs related to the Devens project, so-called, created by chapter 498 of the acts of 1993 and to refinance notes issued as provided in this chapter, the state treasurer shall, upon request of the governor, issue and sell bonds of the commonwealth in an amount not to exceed, in the aggregate, the sum of $170,000,000; provided, however, that $120,000,000 thereof shall be expended exclusively for costs related to said Devens project; and provided further, that not more than $15,000,000 may be expended for renovations to existing facilities within the Devens reserve force training area and at Westover Air Force Base for the use of marine and naval reserve units formerly assigned to South Weymouth naval air station.

All bonds issued by the commonwealth as aforesaid shall be designated on their face, Government Land Bank Fund Loan Act, and shall be term or serial bonds, shall bear such date or dates, and shall mature at such time or times not exceeding 30 years, from the date of issue, as the governor may recommend to the general court pursuant to Section 3 of Article LXII of the Amendments to the Constitution of the Commonwealth, the maturities thereof to be so arranged that the amounts payable in the several years of the period of amortization, other than the final year, shall be as nearly equal as in the opinion of the state treasurer it is practicable to make them. Said bonds shall bear interest semi-annually at such rate as the state treasurer, with the approval of the governor, shall fix.

All interest payments and payments on account of principal on such bonds shall be payable from the Government Land Bank Fund to the extent of the monies therein, provided, however, that notwithstanding any provision of this chapter, such bonds and the interest thereon shall be general obligations of the commonwealth.

Section 26. The state treasurer acting on behalf of the commonwealth shall enter into an agreement with the Agency providing that the commonwealth shall provide contract assistance for debt service obligations of the Agency derived from its predecessor, the government land bank, in the maximum amount of $6,000,000 per fiscal year of the commonwealth for a period of 12 such fiscal years; provided, however, that notwithstanding the foregoing, such agreement shall also provide that the commonwealth shall provide contract assistance necessary to defray debt service costs associated with up to $80,000,000 in principal amount of debt obligations of the Agency derived from its predecessor, the government land bank, issued pursuant to law for the purposes of the Devens project, so-called, created by chapter 498 of the acts of 1993. Such contract assistance agreement shall provide for the payment by the commonwealth of the debt service obligations of the Agency at such time during each such fiscal year and upon such terms and under such conditions as the Agency may stipulate. The Agency may pledge such agreement and the rights of the Agency to receive amounts thereunder as security for the payment of debt obligations issued by the Agency. Such agreement shall constitute a general obligation of the commonwealth for which the faith and credit of the commonwealth shall be pledged for the benefit of the Agency and of the holders of any debt obligations of the Agency which may be secured by a pledge of such agreement or of amounts to be received by the Agency under such agreement.

Amounts received by the Agency from debt obligations issued pursuant to this chapter shall be used for the purposes of acquisition, holding, protection, maintenance, repair, stabilization, operation, management, development, redevelopment, improvement and use of lands, for making grants and undertaking financing transactions, for the acquisition of stock, options or warrants, for refunding other such debt obligations, or for provision of personnel and administrative costs of the Agency as provided by this chapter.

Section 27. (a) There is hereby created and placed within the Agency the Emerging Technology Fund, referred to in this section as the Fund, to which shall be credited any appropriations, bond proceeds or other monies authorized by the general court and specifically designated to be credited thereto, such additional funds as are subject to the direction and control of the Agency, any pension funds, federal grants or loans or private investment capital which may properly be applied in furtherance of the objectives of the Fund, any proceeds from the sale of qualified investments secured or held by the Fund, any fees and charges imposed relative to the making of qualified investments, as the same shall be defined by the advisory committee created pursuant to section 8D and pursuant to the rules and regulations adopted by the Agency, secured or held by the Fund, and any other monies which may be available to the Agency for the purposes of the Fund from any other source or sources. The Agency shall hold the Fund in an account or accounts separate from other funds or accounts.

(b) The Agency shall invest and reinvest the Fund and the income thereof, except as hereinafter provided, only as follows:

(1) in the making of qualified investments, pursuant to the rules and regulations adopted by the Agency;

(2) in defraying the ordinary and necessary expenses of administration and operation associated with the Fund;

(3) in the investment of any funds not required for immediate disbursement in the purchase of such securities as may be lawful investments for fiduciaries in the commonwealth;

(4) for the payment of binding obligations associated with such qualified investments which are secured by the Fund as the same become payable; and

(5) for the payment of principal or interest on qualified investments secured by the Fund or the payment of any redemption premium required to be paid when such qualified, investments are redeemed prior to maturity; provided, however, that monies in the Fund shall not be withdrawn at any time in such an amount as would reduce the amount of the Fund to less than the minimum requirement thereof established by the Agency, except for the purpose of paying binding obligations associated with qualified investments which are secured by the Fund as the same become payable.

(c) The Fund shall be held and applied by the Agency to make qualified investments designed to advance the following public purposes:

(1) to stimulate increased financing for new manufacturing, research and development and related facilities in the commonwealth by leveraging private financing for highly, productive state-of-the-art facilities, which will lead to increased and more rewarding employment opportunities for the citizens hereof; and

(2) to make matching grants to universities and public instrumentalities to induce the federal government and industry to fund advanced research and development activities in new and emerging technologies and new application of existing technologies in the commonwealth, and to thereby serve to increase and strengthen the commercial and industrial base of the commonwealth and the economic development and employment opportunities related thereto.

The Agency shall make no such qualified investment pursuant to clause (1) of subsection (b) unless the Agency finds that, to the extent possible, said qualified investment is such that a definite benefit to the economy of the commonwealth may reasonably be expected therefrom. In addition, the Agency shall make no such qualified investment pursuant to said clause (1) of said subsection (b) unless such qualified investment is in conformity with rules and regulations promulgated by the Agency.

Said rules and regulations shall prescribe the terms and conditions attaching to investments which are to constitute qualified investments, which may include, without limitation, loans, guarantees, loan insurance or reinsurance, equity investments, grants made only pursuant to clause (2) of subsection (c); or other financing or credit enhancing devices, as made by the Agency directly or on its own behalf or in conjunction with other public instrumentalities, or private institutions, or the federal government, provided further, that said rules and regulations shall provide that each such qualified investment made pursuant to clause (1) of said subsection (c) shall involve a transaction with the participation of at least two at-risk private parties.

Said rules and regulations shall, in addition, set forth the terms, procedures, standards and conditions which the Agency shall employ to identify qualified applications, process applications, make investment determinations, safeguard the Fund, advance the objective of increasing employment opportunities for the citizens of the commonwealth, oversee the progress of qualified investments, and secure the participation of other public instrumentalities, private institutions, or the federal government in such qualified investments; provided, however, that said rules and regulations shall provide that each recipient of a qualified investment shall be required to pay a fee as a condition of such receipt, which fee may take the form of points, an interest rate premium or a contribution of warrants or other form of equity to the Fund as prescribed by said advisory committee; and provided, further, that said rules and regulations shall provide for negotiated agreements between the Agency and each recipient of a qualified investment regarding the terms and conditions by which the Fund's support thereof could be reduced or withdrawn.

(d) The Agency may solicit investments by private institutions or investors in the activities of the Fund and may reach agreements with such private institutions or investors regarding the terms of any such investments including, without limitation, the rights of such investors to participate in the income or appropriation of the Fund. In furtherance of the objective of securing investments by private institutions or investors in the activities of the Fund as set forth in the preceding sentence, the Agency shall, on or before the date one year after the first qualified investment is approved by the Agency, submit to the secretary of economic affairs a detailed proposal relative to the creation of a separate investment entity which allows for the commingling of the resources of the Fund with the maximum participation by such private institutions or investors in a manner which is consistent with the public purpose of the Fund and under terms and conditions calculated to protect and preserve the assets of the Fund; provided, however, that if the creation or operation of such a separate entity as proposed by the Agency would require additional or clarifying amendments to the enabling act of the Agency, said proposal shall include proposed statutory language with regard thereto.

(e) Copies of the approved rules and regulations, and any modifications thereto, shall be submitted to the chairpersons of the house and senate committees on ways and means and the clerks of the house of representatives and senate.

(f) Qualified investment transactions undertaken by the Agency pursuant to the provisions of this section shall not, except as specified in this chapter, be subject to the provisions of chapter 175, or any successor thereto, and shall be payable solely from the Emerging Technology Fund established by this section and shall not constitute a debt or pledge of the faith and credit of the commonwealth or of any subdivision thereof.

(g) The Agency shall not at any time make expenditure from or commitment of the assets of the Fund, including, without limitation, the making of qualified investments secured by the Fund, if following the making of said qualified investment, the amount of the Fund shall be less than the minimum requirement established by law, unless the Agency, at the time of making of such qualified investment, deposits in the Fund from the proceeds thereof or from any fees and charges imposed relative to the making of qualified investments, or otherwise, an amount which, together with the amount in the Fund, shall not be less than the minimum requirement; provided, however, that at no time shall the minimum requirement of the Fund be less than the greater of (i) the maximum amount of principal and interest becoming due in the current and succeeding fiscal year of the Agency on all outstanding bonds and other obligations which are secured by the Fund or (ii) 30 per cent of the aggregate amount of the Fund's outstanding liabilities and obligations under the qualified investments.

(h) In order to assure the maintenance of the Fund at the minimum requirement established by the advisory committee, the governor shall annually request of the general court that there shall annually be appropriated and paid to the Agency for deposit in the Fund such sum, if any, as shall be certified by the chairman of the advisory committee to the governor as necessary to restore or maintain the Fund at such minimum amount provided, that the maximum amount of such appropriations should not exceed $45,000,000.

The Agency shall annually, on or before October 30, make and deliver to the secretary for administration and finance his certificate stating the amount, if any, required to restore or maintain the Fund at the amount aforesaid and an appropriation for the amount so stated, if any, shall be requested of the general court by the governor to be paid to the Agency during the then current fiscal year of the commonwealth.

Said secretary acting on behalf of the commonwealth shall enter into an agreement with the Agency memorializing the foregoing commitment by providing that the commonwealth shall provide contract assistance to the Fund as aforesaid in the maximum aggregate amount of $45,000,000. The Agency may pledge such agreement and the rights of the Agency to receive amounts thereunder as security for the payment of obligations of the Funds. Such agreement shall contain such provisions as are necessary to ensure that such agreement does not constitute a general obligation of the commonwealth for which the faith and credit of the commonwealth may be pledged.

Section 28. (a) There is hereby created an advisory committee relative to the Fund consisting of the director of economic development and the secretary for administration and finance, and three other persons, one to be appointed by the governor and two to be appointed by the board of the Agency; provided, however, that said secretary of economic affairs and said secretary for administration and finance may designate another person from time to time to act in his place for a particular purpose, including the right to attend and vote at a meeting of the advisory committee; provided, however, that at least one member of the advisory committee shall have knowledge of financing of emerging technology companies, and one member shall have advanced scientific knowledge related to an emerging technology or technologies.

Each appointed member of the advisory committee shall serve for a term of three years and thereafter until such member's successor is appointed; provided, however, that of those initially appointed, one shall serve for a term of one year, one shall serve for a term of two years, and one shall serve for a term of three years. Any person appointed to fill a vacancy on the advisory committee shall be appointed in a like manner and shall be eligible for reappointment. Any member of the advisory committee appointed by the governor may be removed by the governor for cause. Any member of the advisory committee appointed by the board of the Agency may be removed by the board for cause. The advisory committee is encouraged to award, with the consent of the Agency, one or more contracts with regard to the management of the Fund, which may provide performance-based incentives with regard to such management.

(b) The members shall elect annually a chairman and vice chairman and shall adopt by-laws governing the affairs of the advisory committee. Three members of the advisory committee shall constitute a quorum and the affirmative vote of a majority of the members present and eligible to vote at a meeting shall be necessary for any action to be taken by the advisory committee; provided, however, that the written approval of the secretary for administration and finance shall be necessary for any expenditure from or commitment of the assets of the Fund; and, provided further, that except as set forth in the preceding clause, no vacancy in the membership of the advisory committee shall impair the right of a quorum to exercise the powers of the advisory committee.

The members shall serve without compensation, but each member shall be entitled to reimbursement for actual and necessary expenses incurred in the performance of official duties. The advisory committee shall meet at least twelve times in each year and shall have final authority over the activities of the Fund. The Agency shall provide such staff and supporting assistance as deemed appropriate by the board of directors of the Agency to enable the advisory committee to discharge its duties in a manner consistent with its public purpose. The provisions of subsections (d), (f) to (i), inclusive, and (1) of section 31 of chapter 23A shall apply as well to the members and affairs of the advisory committee created pursuant to this section.

Section 29. The Agency may provide by resolution for the issuance from time to time of debt obligations of the Agency for any of its corporate purposes, provided, however, that the Agency shall issue debt obligations under this section the principal amount of which, when added to the principal amount of debt obligations issued by the Agency under this section and then outstanding, excluding debt obligations previously refunded or being or to be refunded thereby, shall not exceed $250,000,000, $200,000,000 of which shall be for the exclusive use of the Devens project, so-called. All such debt obligations shall be negotiable for all purposes without regard to any other law, subject only to the provisions of any such debt obligations for registration. Debt obligations issued hereunder may be secured by the full faith and credit of the Agency, by a pledge of any revenues, receipts or other assets or funds of the Agency, by mortgages or other instruments covering all or any part of any and all real property of the Agency, including any additions, improvements, extensions to or enlargements of any real property thereafter made, or by any one or more of the foregoing, all as may be determined by the Agency. Debt obligations may be dated, may bear interest at such rate or rates, including rates variable from time to time, may be payable in any domestic or foreign currency and at any domestic or foreign location and may mature or otherwise be payable at such time or times as may be provided for by the Agency, and may be made redeemable or determinable prior to maturity at the option of the Agency or the holder thereof at such price or prices and under such terms and conditions as may be fixed by the Agency. The Agency shall determine the form of debt obligations and the manner of execution, denomination or denominations and place or places of payment thereof. In case any officer whose signature or a facsimile of whose signature shall appear on any debt obligations shall cease to be such officer before the delivery thereof, such signature or such facsimile shall nevertheless be valid and sufficient for all purposes as if such officer had remained in office until after such delivery. The Agency may provide for the authentication of debt obligations by a trustee, fiscal agent, registrar or transfer agent. The Agency may by resolution delegate to the executive director or any member or members of the board of directors of the Agency, or any combination of them, the power to determine any of the matters set forth in this section. In the discretion of the Agency, debt obligations of the Agency may be issued with such terms as will cause the interest thereon to be subject to federal income taxation. The Agency may sell its debt obligations in such manner, either at public or private sale, for such price, at such rate or rates of interest, or at discount in lieu of interest, as it determines will best effectuate its corporate purposes. In the discretion of the Agency, any debt obligations issued hereunder may be secured by a resolution of the Agency or by a trust agreement between the Agency and a corporate trustee, which may be any trust company or bank having the powers of a trust company within or without the commonwealth, and any such trust agreement shall be in such form and executed in such manner as may be determined by the Agency. Such trust agreement or resolution may pledge or assign, in whole or in part, any revenues and funds held or to be received, and any mortgages or other loan collateral held or to be acquired, by the Agency and any contract or other rights to receive the same, whether then existing or thereafter coming into existence and whether then held or thereafter acquired by the Agency, and the proceeds thereof.

Such trust agreement or resolution may contain such provisions for protecting and enforcing the rights, security and remedies of holders of debt obligations as may be reasonable and proper, including, without limiting the generality of the foregoing, provisions defining defaults and providing for remedies in the event thereof which may include the acceleration of maturities, restrictions on individual right of action by holders of debt obligations and covenants setting forth duties of and limitations on the Agency in relation to the conduct of its programs and the management of its property, the custody, safeguarding, investment and application of moneys, the issuance of additional or refunding debt obligations, the establishment of reserves and the making and amending of contracts. In addition to other security provided herein or otherwise by law, debt obligations issued by the Agency may be secured, in whole or in part, by financial guaranties, by insurance or by letters of credit issued to the Agency, or a trustee, or any other person by any bank, trust company, insurance or surety company or other financial institution, within or without the commonwealth, and the Agency may pledge or assign, in whole or in part, any revenues and funds held or to be received, and any mortgages or other loan collateral held or to be acquired, by the Agency and any contract or other rights to receive the same, whether then existing or thereafter coming into existence and whether then held or thereafter acquired by the Agency, and the proceeds thereof, as security for such guaranties or insurance or for the reimbursement by the Agency to the issuer of any such letter of credit of any payments made under such letter of credit. It shall be lawful for any bank or trust company to act as a depository or trustee of the proceeds of debt obligations, revenues or other moneys under any such trust agreement or resolution and to furnish such indemnification or to pledge such securities and issue such letters of credit as may be required by the Agency. Any such trust agreement or resolution may set forth the rights and remedies of holders of debt obligations and of the trustee and may restrict the individual right of action by holders of debt obligations. Any pledge of revenues or other property made by the Agency under the provisions of this chapter, including, without limitation, any pledge by the Agency of its rights to receive payments of any kind from or for the account of mortgagors under mortgages, participations therein or subsidy, guaranty, insurance or other contracts relating thereto, and of its revenues and other property, and of the mortgages, notes, such participations, such subsidy, guaranty, insurance or other contracts or other collateral, and of the proceeds of any or all thereof, shall be valid and binding and shall be deemed continuously perfected for the purposes of the Uniform Commercial Code and other laws from the time when such pledge is made. The revenues, moneys, property, rights and proceeds so pledged and then held or thereafter acquired or received by the Agency shall immediately be subject to the lien of such pledge without any physical delivery or segregation thereof or further act, and the lien of any such pledge shall be valid and binding against all parties having claims of any kind in tort, contract or otherwise against the Agency, regardless of whether such parties have notice thereof. Neither the resolution, any trust agreement nor any other agreement by which a pledge is created need be filed or recorded except in the records of the Agency, and no filing need be made under the Uniform Commercial Code or any other law. Any holder of a debt obligation issued by the Agency under the provisions of this chapter and any trustee under a trust agreement or resolution securing the same, except to the extent the rights herein given may be restricted by such trust agreement or resolution, may bring suit upon the debt obligations and may, either at law or in equity, by suit, action, mandamus or other proceeding for legal or equitable relief, including proceedings for the appointment of a receiver to take possession and control of the business and properties of the Agency, to operate and maintain the same, to make any necessary repair, renewals and replacements in respect thereof and to fix, revise and collect fees and charges, protect and enforce any and all rights under the laws of the commonwealth or granted hereunder or under such trust agreement, resolution or other agreement and may enforce and compel the performance of all duties required by this chapter or by such trust agreement or resolution to be performed by the Agency or by any officer thereof. Debt obligations issued by the Agency under this chapter are hereby made securities in which all public officers and public bodies of the commonwealth and its political subdivisions, all insurance companies, trust companies in their commercial departments, savings banks, cooperative banks, banking associations, investment companies, executors, administrators, trustees and other fiduciaries may properly and legally invest funds, including capital in their control or belonging to them. Such debt obligations are hereby made securities which may properly and legally be deposited with and received by any commonwealth or municipal officer or any agency or political subdivision of the commonwealth for any purpose for which the deposit of bonds or obligations of the commonwealth is now or may hereafter be authorized by law. Debt obligations issued by the Agency under the provisions of this chapter shall not be deemed to be a debt or a pledge of the faith and credit of the commonwealth, except to the extent provided pursuant to the provisions of this chapter, but, except as aforesaid, shall be payable solely from the funds of the Agency from which they are made payable pursuant to the provisions of this chapter. All debt obligations issued by the Agency under the provisions of this chapter, their transfer and the income therefrom, including any profit made on the sale thereof, shall at all times be free from taxation of every kind by the commonwealth and by the cities, towns and other political subdivisions in the commonwealth.

The provisions of this section shall not apply to any debt obligations, bonds, notes or loans issued by the Massachusetts Industrial Finance Agency, nor to any bonds or debt obligations of the Massachusetts Development Finance Agency Agency issued pursuant to section 8, nor in any way limit, derogate or diminish the powers of said Massachusetts Development Finance Agency.

Section 30. The Agency shall keep accurate accounts of all receipts and expenditures of the Government Land Bank Fund; and shall make a report annually containing an abstract of such accounts and detailed information on all receipts and expenditures, including prices paid for lands purchased, the terms upon which loans, loan guarantee and grants were made, and such other detailed information as provided in section 14. Except as otherwise provided by this chapter, the Agency shall have full power to exercise care of its property and management of its loans, loan guarantees, grants, business and affairs, and to sell and convey any lands as provided by this chapter, by deed or other instrument sealed with its corporate seal, signed and acknowledged by a majority of the board of directors of in like manner to authorize such sale and conveyance by any of its officers or agents.

Section 31. Rents and charges for services or facilities furnished or supplied by the Agency shall not be subject to supervision or regulation by any department, division, commission, board, bureau or Agency of the commonwealth or any political subdivision thereof.

Section 32. Except to the extent otherwise provided at law including, without limitation, section 12 of chapter 498 of the acts of 1993, the Agency shall be liable in contract or in tort in the same manner as a private corporation. The directors, employees, officers and agents of the Agency shall not be liable as such on its contracts or for torts not committed or directly authorized by them. The property or funds of the Agency shall not be subject to attachment or to levy and sale on execution, but if the Agency refuses to pay a judgment entered against it in any court of competent jurisdiction, the superior court, sitting within and for the county in which the Agency is situated, may direct the treasurer of the Agency to pay such judgment. The lands of the Agency shall not be subject to liens under chapter 254.

Section 33. The lands and tangible personal property of the Agency shall be deemed to be public property used for essential public and governmental purposes and shall be exempt from taxation and from betterments and special assessments.

Nothing in this chapter shall be construed to prevent the taxation to the same extent and in the same manner as other lands are taxed, of lands acquired by the Agency and sold by it, or of lands so acquired by the Agency and leased by it; provided, however, that lands so acquired by the Agency and sold or leased to an urban redevelopment corporation or other entity operating under chapter 121A, or the economic development and industrial corporation of Boston, or such other corporation as may be established by special law for, or other entity operating under said chapter 121A and authorized by special law with respect to the redevelopment of lands formerly used for Westover Air Force Base, the Chelsea Naval Hospital, or the Boston Naval Shipyard, including the South Boston Annex, the Boston Army Base and all other lands owned by the United States of America and used in connection with or for purposes related to the operations of the Boston Naval Shipyard or the Boston Army Base, shall be taxed as provided in such chapter or special law and not otherwise.

Section 34. The Agency shall annually submit to the governor, the chairman of the senate ways and means committee, the chairman of the house ways and means committee, the secretary of administration and finance, and the comptroller within 90 days after the end of its fiscal year a complete and detailed report setting forth its operations and accomplishments; its receipts and expenditures during such fiscal year; and, its assets and liabilities at the end of its fiscal year.

Section 35. As used in this section the words "building project" shall mean a project undertaken for the design, construction, installation, repair or maintenance of building and appurtenant structures, facilities and utilities directly by the Agency in the exercise of its powers under clauses (23) and (26) to (29), inclusive of section 3, but not in the exercise of any of its other powers, including initial equipment and furnishings thereof, but not including appurtenant buildings or structures which are required to be constructed as integral parts of the development of sewer, water and highway systems, or the design, construction, installation, repair or maintenance of any building financed in whole or in part through loans or through the purchase and sale of such building by the Agency pursuant to this chapter.

The Agency shall not enter into any contract nor incur any other obligation for the design of a building project unless the design work can be accomplished (a) within any applicable appropriation or authorization for the project or within the project cost limits specified by any applicable appropriation or authorization and (b) without substantial deviation from any (i) study or program which must be prepared in accordance with this section or (ii) any other pre-design document which must be prepared in accordance with any other statute, appropriation or authorization or administrative directive consistent therewith, and unless the executive director of the Agency certifies in writing that such project complies with the provisions of this section. In no event shall the design work be such as would result in a change in the number of square feet to be constructed in the project of more than ten per cent from the number specified in the study, program or other pre-design document referred to in subclauses (i) and (ii) of clause (b).

The Agency shall not enter into any contract nor incur any other obligation for the construction of a building project unless the construction work can be accomplished (a) within any applicable appropriation or authorization for the project and (b) without substantial deviation from (i) any study or program which must be prepared in accordance with this section or (ii) any other pre-design document which must be prepared in accordance with any other statute, appropriation or authorization or administrative directive consistent therewith and unless the executive director of the Agency certifies in writing that such project complies with the provisions of this section. In no event shall the construction work be such as would result in a change in the number of square feet to be constructed in the project of more than 10 per cent from the number specified in the study, program or other pre-design document referred to in subclauses (i) and (ii).

Every building project undertaken by the Agency shall be deemed to require the satisfactory completion of a study or program as provided herein before any services for the design or construction of such project may be contracted for, performed by contract or otherwise, or funds allotted, encumbered or expended therefor.

No provider of design services for any building project undertaken by the Agency shall be selected by the designer selection board or by the Agency and no design services shall be performed for or by the Agency for any building project for which the satisfactory completion of a study or program is required prior to the design or construction of that project, unless and until: (a) said study, program, or where appropriate, both have been satisfactorily completed; (b) the Agency certifies in writing to the deputy commissioner of capital planning and operations that the study, program, or where appropriate, both, correspond to the current needs of the Agency including its current long term capital facilities development plan; (c) said deputy commissioner requests that one or more of the directors of the office of programming, office of project management, or office of facilities management review the study or program, or where appropriate, both and the director or directors certify in writing to said deputy commissioner that the study, program, or where appropriate, both reflect the Agency's needs as stated, that they provide an accurate estimate of the project requirements, cost and schedule, that the project can be accomplished within any applicable appropriation or authorization for that project, and recommends proceeding with design, construction, or where appropriate, both; and (d) the deputy commissioner of capital planning and operations certifies in writing to the commissioner of administration that the study, program, or where appropriate, both have been satisfactorily completed in accordance with this section and approves proceeding with design, construction, or where appropriate, both.

If either the director or directors whose review is requested or the deputy commissioner of capital planning and operations should fail to so certify, recommend, or approve, said deputy commissioner shall forthwith send notice of his decision and the reasons therefor to the commissioner of administration and to the house and senate committees on ways and means.

Section 36. Upon termination of the Agency's existence, title to all lands or any interest therein, which immediately prior to said termination, is held by the Agency, and all mortgage and other titles, liens upon and security interests therein so held by the Agency in or upon lands or interests therein theretofore disposed of by the Agency, shall be, without further action be transferred to and shall be vested in the commonwealth and shall be under the control of the executive office for administration and finance. The secretary of administration and finance is hereby authorized to hold, protect, maintain, and use such lands, or any interest therein, as he deems necessary or desirable to facilitate disposition of such lands or any interest therein, and to dispose of such lands, or any interest therein, by sale, lease or otherwise. The proceeds of any disposition of such lands, or any interest therein, shall be paid into the treasury of the commonwealth and shall be used solely toward meeting the debt service obligations of the General Fund.

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.

Section 38. Upon the termination of the Agency's existence, all books, papers, records, documents, and equipment, which immediately prior to said termination, are in the custody of the Agency, and which relate to or are maintained for the purpose of the exercise of the Agency's powers or the performance of the Agency's duties and all assets of the Agency of every kind and nature, shall be transferred without further action to the secretary of administration and finance.

Section 39. Upon the termination of the Agency's existence, all then existing agreements, contracts, leases and other obligations of the Agency or to which the Agency is a party which relate to the exercise of its powers or the performance of its duties and which are in force immediately prior to said termination, shall be performed, and may be enforced for the benefit of the commonwealth, by the secretary of administration and finance. This section shall not affect any renewal provision or option to renew contained to any such lease in existence on said termination date, all of which may thereafter be exercised by said secretary.

Section 40. Upon the termination of the Agency's existence, all petitions, hearings and other proceedings duly brought before, and all prosecutions and legal and other proceedings duly begun by the Agency which arise from or relate to the exercise of its powers or the performance of its duties, and which are pending immediately prior to said termination, shall continue unabated and remain in force notwithstanding said termination, and shall thereafter be completed before or by the secretary of administration and finance.

Section 41. There is hereby established the Incubator Program Fund which shall be under the control of the Agency, but shall consist of a separate account or accounts segregated from other Agency funds, to which shall be credited any appropriations made to said Fund, together with such other amounts as may become available from any other source. The Agency may from time to time withdraw from said amounts as may be necessary to defray costs and expenses incurred by the Agency in connection with any project undertaken by the Agency pursuant to this chapter.

SECTION 25. Sections 29 to 38C of chapter 23A of the General Laws are hereby repealed.

SECTION 26. Chapter 212 of the acts of 1975 is hereby repealed.

SECTION 27. (a) Notwithstanding the provisions of any general or special law to the contrary, this section shall facilitate the orderly transfer of the employees, proceedings, rules and regulations, property and legal obligations of the following functions of state government from the transferor Agency to the transferee Agency, as hereby defined:

(1) The functions of the Massachusetts Industrial Finance Agency, as the transferor Agency, to the Massachusetts Development Finance Agency, as the transferee Agency.

(2) The functions of the Massachusetts government land bank, as the transferor Agency, to the Massachusetts Development Finance Agency, as the transferee Agency.

Upon the effective date of this act all employees and officers of the Massachusetts government land bank and the Massachusetts Industrial Finance Agency shall be deemed employees and officers of the agency.

(b) Only those officers, agents and employees of the Massachusetts government land bank participating in the commonwealth's retirement system prior to the effective date of this act may remain as employees of the Agency, at their option, and firefighters employed by said land bank on the effective date of this act or by the Agency thereafter pursuant to subsection (c) of section 12 of chapter 498 of the acts of 1993 shall remain as participants in the commonwealth's retirement system pursuant to the terms and conditions of said participation. Except for said firefighters, officers, agents or employees of said Massachusetts government land bank and of the Massachusetts Industrial Finance Agency not participating in the commonwealth's retirement system prior to the effective date of this act shall not be afforded the option to become participants in said retirement system as officers, agents or employees.

(c) All employees and officers of the Agency may be eligible for health benefits through the commonwealth's group insurance commission pursuant to the terms and conditions of such coverage. Any employee of Massachusetts government land bank eligible for any specific state-sponsored health or insurance program shall, upon becoming an employee of the agency pursuant to subsection (b), continue to be eligible for said programs on the same terms and conditions as were in effect immediately prior to the effective date of this act.

(d) All petitions, requests, investigations and other proceedings appropriately and duly brought before each transferor agency or duly begun by each transferor agency and pending before it before the effective date of this act, shall continue unabated and remain in force, but shall be assumed and completed by the respective transferee agency.

(e) All orders, rules and regulations duly made and all approvals duly granted by each transferor agency, which are in force immediately before the effective date of this act, shall continue in force and the provisions thereof shall thereafter be enforced, until superseded, revised, rescinded or canceled, in accordance with law, by the transferee agency.

(f) All books, papers, records, documents, equipment, buildings, facilities, cash and other property, both personal and real, including all such property held in trust, which immediately before the effective date of this act are in the custody of each transferor agency shall be transferred to the transferee agency. All duly existing contracts, leases and obligations of each transferor agency shall continue in effect but shall be assumed by the respective transferee agency.

(g) All powers, duties and obligations of the transferor agencies under the commonwealth's laws and regulations remaining in effect after the effective date of this act, including without limitation, the powers, duties and obligations set forth in chapter 498 of the acts of 1993, and any other law or regulation referring to either transferor agency, shall become powers, duties and obligations of the transferee agency.

No existing right or remedy of any character shall be lost, impaired or affected by the provisions of this act.

All references in any general or special law to each transferor agency or the principal officer thereof shall be deemed to refer to the respective transferee agency or the principal officer thereof.

SECTION 28. This act, being necessary for the welfare of the commonwealth and its inhabitants, shall be liberally construed to effect its intents and purposes.

SECTION 29. The provisions of this act are severable, and if any of its provisions shall be held unconstitutional by any court of competent jurisdiction, the decision of such court shall not affect or impair any of the remaining provisions.

N.B. -- The Acting Governor has vetoed this section
SECTION 30. The division of capital planning and operations is hereby authorized and directed to study the cost effectiveness of the administrative office of the trial court entering into competitively selected contracts for the property management of all court facilities, including but not limited to, substantially renovated or newly constructed trial court facilities. Said study shall compare the current system of property management of said trial court facilities with systems of selected contracts for property management in effect for other agencies of the commonwealth as well as other systems of property management that are in effect in other states. The commissioner of said division shall file said study with the clerks of the house of representatives and senate, the house and senate committees on ways and means, and the joint committee of the judiciary by May 30, 1998.

SECTION 31. The secretary of administration and finance shall file a report no later than March 1, 1999 with the house and senate committees on ways and means detailing those expenditures from items in section 2A which will not be fully expended by the end of the accounts payable period in fiscal year 1999 and for which said secretary recommends an extension of funding into the subsequent fiscal year; provided, however, that said report shall list those amounts that have been expended or obligated as of said date.

N.B. -- The Acting Governor has vetoed this section
SECTION 32. The department of environmental protection, in consultation with the executive office of administration and finance, the Water Pollution Abatement Trust, and the department of housing and community development, is hereby directed to conduct a study of potential financial assistance programs, including but not limited to a Title V betterment program, relating to the costs of bringing sewage disposal systems serving manufactured housing communities into compliance with 310 CMR 15.00. Said report shall be submitted to the house and senate committees on ways and means not later than October 31, 1998.

SECTION 33. Sections 23 to 29, inclusive, of this act shall take effect on September 30, 1998. The remainder of this act shall take effect on June 30, 1998.

Approved August 10, 1998.