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  • Acts
  • 1998
  • Chapter 29 AN ACT RELATIVE TO THE TERMS OF CERTAIN BONDS AND NOTES TO BE ISSUED BY THE COMMONWEALTH.

Whereas , The deferred operation of this act would tend to defeat its purpose, which is to facilitate forthwith the issuance of bonds and notes to carry out the purposes of a certain act relative to certain state land, therefore it is hereby declared to be an emergency law, necessary for the immediate preservation of the public convenience.


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


SECTION 1. Notwithstanding the provisions of any general or special law to the contrary, the bonds which the state treasurer is authorized to issue under section 12 of chapter 309 of the acts of 1996 shall be issued for a term not to exceed 20 years; provided, however, that all such bonds shall be payable by June 30, 2018, as recommended by the governor in a message to the general court dated May 27, 1997, pursuant to Section 3 of Article LXII of the Amendments to the Constitution of the Commonwealth.

SECTION 2. Notwithstanding the provisions of any general or special law to the contrary, the notes which the state treasurer is authorized to issue under section 13 of chapter 309 of the acts of 1996 shall be issued and may be renewed one or more times not exceeding one year and the final maturities of such notes, whether original or renewal, shall be not later than June 30, 2003, as recommended by the governor in a message to the general court dated May 27, 1997, pursuant to Section 3 of Article LXII of the Amendments to the Constitution of the Commonwealth.

Approved February 18, 1998.