Skip to Content

Session Law

1998

Jump to:

Chapter 301 AN ACT AUTHORIZING THE ESTABLISHMENT OF THE SOUTH SHORE TRI-TOWN DEVELOPMENT CORPORATION.

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. It is hereby found that the closure of the Naval Air Station hereinafter referred to as NAS South Weymouth by the United States Government in September of 1997 is detrimental to the economic welfare of the citizens of the commonwealth and, in particular, the towns of Abington, Rockland and Weymouth. The closure of this military installation imposes upon the commonwealth and its citizens an increased fiscal burden in addition to that incurred by the commonwealth on account of the closure of various other military installations in the commonwealth. It is of considerable importance that the approximately 1,500 acres encompassing the NAS South Weymouth be acquired expeditiously by an entity empowered to fully redevelop the property for the benefit of the towns of Abington, Rockland and Weymouth, the region and the commonwealth. Because the base is located in three different jurisdictions, its orderly redevelopment will depend on the formulation of a comprehensive, consensus Reuse Plan and implementation of uniform redevelopment policies for the property. It will be necessary to establish incentives to attract private businesses to locate and expand their operations at NAS South Weymouth, including providing those businesses with tax incentives and relief from inconsistent land use controls. Therefore, it is the purpose of this act to promote the expeditious and orderly conversion and redevelopment of NAS South Weymouth for nonmilitary purposes, including, but not limited to, commercial, housing, industrial, institutional, educational, governmental, recreational, conservation, or manufacturing uses in order to prevent blight, economic dislocation and additional unemployment, and to aid and strengthen the local economy, the regional economy and the economy of the commonwealth. In order to achieve these objectives, it is deemed necessary and appropriate to establish a public corporation with full powers and authority to carry out the purposes of this act.

SECTION 2. It shall be the goal of this act to promote the expeditious acquisition and redevelopment of NAS South Weymouth while addressing the economic, social, and environmental needs of the region. This goal shall be accomplished in a manner consistent with the consensus Reuse Plan prepared by the Naval air station planning committee and approved by a majority vote of the town meetings of the towns of Abington, Rockland and Weymouth, on March 23, 1998, March 16, 1998 and March 4, 1998, respectively, and approved by the commonwealth and the United States Department of Defense. The passage of this act shall constitute said approval of the commonwealth. The Reuse Plan is intended to significantly stimulate economic activity and jobs on the base property while protecting the environment and enhancing the quality of life in the region. Said redevelopment is designed to minimize and mitigate negative off-base impacts on the area such as those on water resources, air quality, traffic and noise, limiting the impacts to those necessary to achieve community reuse goals and objectives. Said redevelopment shall be integrated with the United States government's cleanup of hazardous materials on the base to ensure effective, expeditious and efficient environmental remediation and protection of public health and welfare in accordance with federal and state law and regulation.

SECTION 3. There is hereby created a body politic and corporate, to be known as the South Shore Tri-Town Development Corporation, to carry out the provisions of this act. Said corporation is hereby deemed to be a public instrumentality, and the exercise by said corporation of the powers conferred by this act shall be deemed and held to be the performance of public functions. The primary purpose of said corporation is to secure the redevelopment of NAS South Weymouth to the greatest benefit of the towns of Abington, Rockland and Weymouth. Accordingly, said corporation shall be guided in its financing activities with the goal of maximizing the fiscal benefit to said towns stemming from the redevelopment from a long term perspective. In addition, it shall be the goal of said corporation, during its existence, to pursue the redevelopment in a manner that imposes no costs on said towns for the provision of police and fire protection, emergency services, water and sewer, and other municipal services. Finally, said corporation shall, to the maximum extent feasible and consistent with the Reuse Plan and zoning by-laws, dispose of all of the property within the NAS South Weymouth Redevelopment Area through sale prior to said corporation's termination as provided in section 31.

SECTION 4. As used in this act, the following words shall, unless the context requires otherwise, have the following meanings:-

(a) "Bank" or "Government land bank", the government land bank, established by chapter 212 of the acts of 1975, or its successors.

(b) "Board", the board of directors of the South Shore Tri-Town Development Corporation established by section 8.

(c) "Central redevelopment area", the central portion of the NAS South Weymouth Redevelopment Area as specifically defined in the Reuse Plan and zoning by-laws within which the corporation shall have full and exclusive administration of zoning, licensing, inspection and permitting authority for the implementation of and in accordance with the Reuse Plan and zoning by-laws.

(d) "Corporation", the corporation established by section 3.

(e) "Naval air station planning committee" or "committee", established by governor's Executive Order No. 378, dated September 20, 1995, for the purpose of preparing a Reuse Plan for the redevelopment of NAS South Weymouth, the committee comprised of 33 representatives including the commonwealth, Norfolk and Plymouth counties, the towns of Abington, Rockland, Hingham and Weymouth and other entities, including elected officials of the general court representing the communities that host NAS South Weymouth.

(f) "NAS South Weymouth", the Naval Air Station South Weymouth, a former military base of that name which was disestablished in accordance with the recommendation of the 1995 Base Realignment and Closure Commission, pursuant to 10 USC 2687, as amended.

(g) "NAS South Weymouth Region", the municipalities within the commonwealth described as follows: (a) the towns as defined in this act, (b) all municipalities contiguous to the towns, and (c) all municipalities with the exception of the city of Boston contiguous to the municipalities in subsection (b).

(h) "NAS South Weymouth Redevelopment Area", the lands, including all easements, reservations and rights appurtenant thereto, and all buildings, structures, utilities and improvements located thereon comprising all of the former military base of that name presently located in the towns of Abington, Rockland and Weymouth and within the ownership, control and jurisdiction of the United States, including those portions of the base property transferred as of the effective date of this act or to be transferred at some future date to the United States Coast Guard and Federal Aviation Administration pursuant to the federal screening process. The NAS South Weymouth Redevelopment Area shall be comprised of a Central Redevelopment Area and Perimeter Area.

(i) "Perimeter area", the outer portions of the NAS South Weymouth Redevelopment Area as specifically defined in the Reuse Plan and zoning by-laws within which each town shall have full and exclusive administration of zoning, licensing, inspection and permitting authority for the implementation of and in accordance with the Reuse Plan and zoning by-laws in its respective sector of the NAS South Weymouth Redevelopment Area.

(j) "Project", the development, improvement, construction, expansion, reduction, destruction, renovation of all real property and buildings, structures and utilities, and all programs, services, systems and other activities associated therewith, located on, conducted within or otherwise directly associated with the NAS South Weymouth Redevelopment Area.

(k) "Reuse Plan and zoning by-laws", the Reuse Plan and implementing zoning by-laws for the redevelopment of NAS South Weymouth prepared by the Naval air station planning committee pursuant to governor's Executive Order No. 378, dated September 20, 1995, and approved by the towns pursuant to section 13. The purpose of the Reuse Plan and zoning by-laws is to establish redevelopment objectives, policies and standards to guide public and private decision-making and investment and to ensure the maintenance of quality of life and the protection of natural resources.

(l) "Secretary", the secretary of the executive office of administration and finance.

(m) "Town", any one of the towns of Abington, Rockland or Weymouth, within the corporate boundaries in which NAS South Weymouth is located.

(n) "Towns", the towns of Abington, Rockland and Weymouth.

SECTION 5. The NAS South Weymouth Redevelopment Area is hereby created. Plans and descriptions detailing the precise boundaries and configuration of said NAS South Weymouth Redevelopment Area, including the precise boundaries of the land of the former NAS South Weymouth which is to be transferred to the United States Coast Guard and Federal Aviation Administration, the precise boundaries of the land of each town located within the NAS South Weymouth Redevelopment Area and the precise boundaries of the central redevelopment area and perimeter area, shall be prepared by the corporation, reviewed by the boards of selectmen of the towns, and filed with the secretary and recorded in the Plymouth county registry of deeds and the Norfolk county registry of deeds. Said filings shall take place within 180 days of the effective date of this act.

SECTION 6. The corporation shall have all of the powers necessary or convenient to carry out the purposes and provisions of this act, including the power to:-

(a) sue and be sued in all courts and to initiate or participate in actions and proceedings, whether judicial, administrative, arbitrative or otherwise;

(b) have a seal and to alter such seal at its pleasure and to use it by causing it or a facsimile to be affixed or impressed or reproduced in any manner;

(c) own, manage, operate, convey, or lease facilities for distribution of public utilities including, but not limited to, electricity, gas, water, sewer, telecommunications, and cable services, and to own, manage, operate, or lease the production plant for steam that is located at NAS South Weymouth;

(d) develop, own, manage, operate, or lease wells to procure water from productive aquifers underlying the NAS South Weymouth Redevelopment Area in accordance with the provisions of sections 38 and 39A of chapter 40 of the General Laws; provided, however, that the procurement of such water does not diminish the supply of water available to any of the towns;

(e) make and execute agreements with one or more of the towns or other appropriate public or private agencies and entities for the provision of police, fire, emergency medical and other municipal services within the NAS South Weymouth Redevelopment Area; provided, however, that preference in the provision of such municipal services shall be given to the town in which the portion of the NAS South Weymouth Redevelopment Area receiving such municipal services is located;

(f) exercise the power of eminent domain within the Central Redevelopment Area only, as provided in chapters 79, 79A, 80, and 80A of the General Laws;

(g) appoint, prescribe the qualifications and fix the compensation of corporate officers, agents, and employees, and to pay the same out of funds of said corporation;

(h) appoint legal counsel and to fix compensation for such services rendered to the corporation;

(i) employ or retain as independent contractors, architects, engineers, attorneys, accountants, and such other advisors and employees, consultants, and agents as may be necessary in its judgment, without regard to any personnel or civil service law or rule of the commonwealth or the requirements of chapter 7 of the General Laws, to prescribe their duties and qualifications, and to fix and pay their compensation, if any;

(j) appoint qualified boards and individuals in addition to the advisory board established pursuant to section 10, to serve as unpaid advisors under such terms and conditions as it may deem necessary. Such boards and individuals may be reimbursed for incidental expenses determined by said corporation to be necessary and incurred while performing the business of said corporation;

(k) acquire, hold, and dispose of personal property within the NAS South Weymouth Redevelopment Area for its corporate purposes;

(l) purchase, receive, take by grant, gift, devise, bequest, lease, or otherwise acquire, own, hold, improve, employ, use or otherwise manage real property or any interest therein, whether tangible or intangible, for its purposes, located within the NAS South Weymouth Redevelopment Area, except for any federally owned property of the former NAS South Weymouth which is to be or has been transferred to the United States Coast Guard and Federal Aviation Administration; provided further, that when said property is declared to be surplus to the needs of the United States government, said corporation is hereby authorized to obtain any and all like interest in said property as described herein;

(m) sell, convey, lease, exchange, transfer, or otherwise dispose of, or mortgage, pledge, or create a security interest in all or any of its real or personal property or any interest therein, using such procedures as are adopted by said corporation; provided, however, that any such transaction consummated in fulfillment of the obligations of the committee assumed by said corporation under clause (iii) of paragraph (b) of section 7 shall be exempt from the provisions of any of the public bidding and procurement requirements applicable to bodies politic and corporate of the commonwealth imposed by general or special law, including, without limitation, the requirements of chapter 7 of the General Laws and regulations promulgated thereunder governing the division of capital planning and operations; and provided, further, that said corporation may, pursuant to an affirmative vote and by either stating the public convenience and necessity therefore or by determining that consideration in excess of fair market value is being paid theretofore or furnished in connection therewith, exempt any other such transaction from the provisions of such requirements;

(n) apply for and, for the purposes of this act, accept gifts, loans, grants of property, funds, money, materials, labor, supplies, or services from the United States government or its departments or agencies or from any agency of the commonwealth or any political subdivision thereof, or any other person, or make agreements with respect to any such gifts, loans, or grants, and to do any and all things necessary, useful, desirable, or convenient in connection with procuring, accepting, or disposing of such gifts, loans, or grants;

(o) purchase, take, receive, subscribe for, or otherwise acquire, hold, make a tender offer for, vote, employ, sell, lend, lease, exchange, transfer or otherwise dispose of, mortgage, pledge or grant a security interest in, use or otherwise deal in and with, bonds and other obligations, shares or other securities or interests therein issued by others, whether engaged in a similar or different business or activity;

(p) make and execute agreements, contracts, project labor agreements and other instruments necessary or convenient in the exercise of the powers and functions of said corporation under this act, including contracts with any person, firm, corporation, municipality, commonwealth agency, governmental unit, or other entity, foreign or domestic;

(q) assess and collect taxes within the NAS South Weymouth Redevelopment Area in order to generate revenues to pay the cost of operations of said corporation, maintenance of the property and the construction and maintenance of infrastructure improvements within or associated with the NAS South Weymouth Redevelopment Area in accordance with the Reuse Plan and zoning by-laws approved by the towns, including the funding provisions thereof, and to enter into agreements with the towns to distribute excess revenues not devoted to the costs described in this paragraph in accordance with section 17. In connection with the foregoing, said corporation shall have all the powers and authority of assessors and collectors established pursuant to chapters 59 and 60 of the General Laws, except that said corporation shall establish tax rates for residential uses for the land areas of the three towns located within the boundaries of the NAS South Weymouth Redevelopment Area which are equal to the residential tax rates then applicable in each of the towns. Said corporation shall, as soon as practicable following any change in the residential tax rate of any one of the towns, change the residential tax rate for the land area of that town located within the NAS South Weymouth Redevelopment Area, so that such residential tax rates remain equivalent;

(r) administer land use and zoning controls and zoning, subdivision, licensing, inspection, and any and all other municipal permitting, licensing, and inspection activities within the Central Redevelopment Area as defined for such administration in the Reuse Plan and zoning by-laws approved by the towns, and to enter into agreements with the towns whereby any such activities which said corporation may determine are more effectively administered by the towns shall be within the towns' administration subject to the towns' agreement to enter into such agreements. Except as otherwise expressly provided in the zoning by-laws approved by the towns under section 13, (a) in the administration of the activities authorized under this section in the Central Redevelopment Area, said corporation shall have the authority to take action and to issue permits, approvals, licenses, orders, determinations and other entitlements in accordance with the procedures and standards from time to time applicable to municipalities and their boards, commissions and agencies so authorized to take such action or to issue any such permit, approval, license, order, determination or other entitlement under the provisions of the General Laws; and (b) all such actions, including a failure to take action, and such permits, approvals, licenses, orders, determinations, and other entitlements shall have the legal effect and duration as provided in such General Laws. Upon termination of said corporation under section 31, the authority to administer such activities shall be vested in the towns in accordance with the provisions of the General Laws, but no action or inaction of or permit, approval, license, order, determination or entitlements issued by said corporation prior thereto or any activity undertaken or improvement made in accordance therewith shall be affected thereby. Any and all municipal powers which do not involve the administration by said corporation of such land use and zoning controls and zoning, subdivisions, licensing, permitting, or inspection activities shall remain with the towns in which the applicable real property is located unless expressly granted to said corporation in this act or elsewhere;

(s) issue a maximum of 20 alcoholic beverage licenses within the NAS South Weymouth Redevelopment Area in accordance with chapter 138 of the General Laws and the Reuse Plan and zoning by-laws; provided, however, that said licenses shall not diminish the number of licenses permitted by the commonwealth to be granted by the towns. Said licenses shall be limited as follows: (i) 12 licenses shall be available for issuance to qualified applicants operating sit-down restaurants and associated bar areas and bars located within and as part of hotels, function halls, conference centers, public and private social and recreational clubs, shopping centers and related entertainment venues and cinemas, and (ii) one license shall be available for issuance to a qualified applicant operating a clubhouse or like facility associated with a golf course if one is established in the NAS South Weymouth Redevelopment Area; provided, further, that none of the remaining seven alcoholic beverage licenses may be issued by said corporation to any applicant for any of the purposes authorized by this subsection unless said corporation first requests and receives approval of the boards of selectmen of the towns to issue one or more of said licenses; provided, further, that none of the licenses authorized by this section shall be transferable outside the NAS South Weymouth Redevelopment Area. Said corporation shall also have the authority to issue entertainment licenses as it deems necessary and appropriate;

(t) borrow money at such rate or rates of interest as said corporation may determine; to issue its notes, bonds, or other obligations to evidence such indebtedness, and secure any of its obligations by mortgage or pledge of all or any of its property or any interest therein, tangible or intangible, whether then owned or thereafter acquired;

(u) arrange for guaranties of its notes, bonds, or other obligations by the federal government, the commonwealth, the towns or by any private insurer or otherwise, and to pay any premiums therefor;

(v) issue such short and long term notes, bonds, or other obligations, whether or not the income therefrom to the holders is exempt from taxation;

(w) purchase notes, bonds, or other obligations of the corporation at such price or prices, in such manner, and upon such terms, as the corporation may determine;

(x) invest and reinvest its funds, and to take and hold property as security for the payment of funds so invested, subject to the same restrictions and safeguards which are applicable to the management and investment of public monies pursuant to section 55 of chapter 44 of the General Laws;

(y) procure insurance against any loss in connection with its property or projects in such amount or amounts and from such insurers, including the federal government, and directors and officers liability insurance, as it may deem necessary or desirable, and to pay any premiums therefor;

(z) enter into and perform contracts, project labor agreements, and other agreements, whether or not they may be deemed to constitute indebtedness under applicable law, for the joint or separate planning, financing, construction, purchase, operation, maintenance, use, sharing costs of, ownership, mortgaging, leasing, sale, disposal of, or other participation in facilities, products or services of any person who engages in business on property owned or controlled by the corporation;

(aa) maintain a principal office within the NAS South Weymouth Redevelopment Area;

(bb) make any inquiry, investigation, survey, feasibility study or other study which the corporation may deem necessary to enable it to carry out effectively the provisions of this act;

(cc) apply to the appropriate agencies and officials of the federal government and the commonwealth for licenses, permits or approvals, as are ordinarily applied for by cities and towns of the commonwealth, of its plans or projects as it may deem necessary or advisable, and to accept such licenses, permits or approvals as may be tendered to it by such agencies or officials, upon such terms and conditions as it may deem appropriate;

(dd) make by-laws and establish committees for the management and regulation of its affairs as it may deem necessary and, subject to agreement with bondholders, to make rules pursuant to its own procedures for the use of its projects and property, and to establish and collect rentals, fees, and all other charges for the use of projects under the jurisdiction of said corporation and for services or commodities sold, furnished, or supplied by said corporation;

(ee) design, construct, maintain, operate, improve, and reconstruct such projects as shall be consistent with the purposes and provisions of the approved Reuse Plan and zoning by-laws, including without limitation the maintenance and development of all facilities necessary or convenient in connection with any such project, and also to contract for the construction, operation, or maintenance of any parts thereof, or for services to be performed thereon, and to rent parts thereof and grant concessions thereon, all on such terms and conditions as the corporation may determine, in accordance with said Reuse Plan and zoning by-laws;

(ff) designate the depositories of its money within the commonwealth;

(gg) establish its fiscal year to commence on July 1 and end on June 30 of each year and to change the fiscal year from time to time as said corporation may deem necessary and appropriate;

(hh) take such other actions as it may deem necessary and advisable in the furtherance of the purposes of this act.

SECTION 6A. The corporation shall not be obligated to maintain, operate, improve, or provide services, including police and fire protection, for those portions of the former NAS South Weymouth which remain in federal ownership, nor shall said corporation bear any responsibility or be liable for any injury, damage, or loss arising out of or in connection with any activities which may occur on such federal property, nor as a result of any improvements, damage, deterioration, or environmental hazards occurring thereon. Said corporation may, however, enter into agreements with the federal government to provide any services to areas of the NAS South Weymouth Redevelopment Area remaining in federal ownership which said corporation may provide elsewhere in the NAS South Weymouth Redevelopment Area.

SECTION 7. (a) In addition to any other duties set forth in any provision of this act, the corporation shall coordinate with, and provide information to, the United States and any officials or employees thereof, regarding any matter relating to the ownership, condition, closure, conversion, redevelopment, or future use or operations of the NAS South Weymouth Redevelopment Area as required by the Defense Base Realignment and Closure Act. Notwithstanding any other provision of law, said corporation shall be the only person or entity in the commonwealth authorized to negotiate, purchase, or otherwise obtain on behalf of itself, the commonwealth or any of its political subdivisions, any fee ownership, easement, lease, license, or other interest in any property in or on the NAS South Weymouth Redevelopment Area from the United States, except that a governmental entity of the commonwealth may acquire an interest from said corporation to such property, if such acquisition and use of the property by a governmental entity of the commonwealth is consistent with the Reuse Plan and zoning by-laws. Prior to the disestablishment of the Naval air station planning committee as specified in paragraph (e) of section 13, said committee may request, on behalf of said corporation, that the Government Land Bank act as its agent to conduct implementation negotiations with the United States government until said corporation is fully staffed with the capacity to pursue such negotiations for itself. In addition, said corporation is hereby authorized to request continuing assistance of the Government Land Bank in pursuing such negotiations with the United States government.

(b) The corporation shall be obligated to (i) assume and perform the Government Land Bank's obligations with respect to the less than fair market interim master lease between the United States of America and Government Land Bank d/b/a Massachusetts Development Finance Agency for Naval Air Station South Weymouth, which the committee requested the Government Land Bank to enter into on behalf of the committee, (ii) assume and perform the Government Land Bank's obligations with respect to any subleases which the Government Land Bank enters into pursuant to the less than fair market interim master lease at the committee's request, and (iii) assume any and all obligations, including, without limitation, any letters of intent to lease or sell real estate, entered into by the committee, or the Government Land Bank at the committee's request with respect to the NAS South Weymouth Redevelopment Area.

SECTION 8. (a) The management of the corporation shall be vested in a board of five directors to be appointed as follows:

(i) one member appointed by the board of selectmen of the town of Abington,

(ii) two members appointed by the board of selectmen of the town of Rockland,

(iii) two members appointed by the board of selectmen of the town of Weymouth,

(iv) the board shall appoint a chairman from among its members who shall serve in that capacity at the pleasure of said board.

(b) Directors shall serve for terms of five years; provided, however, that of those initially appointed, one by the town of Weymouth shall be appointed for a term of three years, one by the town of Rockland and one by said town of Weymouth, shall be appointed for terms of four years, and one by the town of Abington and one by said town of Rockland shall be appointed for terms of five years. All directors shall be eligible for reappointment at the expiration of their terms and may be removed for good cause by their respective appointing authority. Vacancies shall be filled by the board of selectmen of the town that appointed said director.

(c) All directors of said corporation shall have demonstrated expertise or education and experience in one or more of the following areas: real estate development, housing, finance, business, environment, planning, engineering, transportation or municipal government. The towns shall cooperate to assure the appointment of directors from as many of the foregoing disciplines as possible.

(d) Four members of the board shall constitute a quorum. A minimum of three affirmative votes of the quorum shall be required for any action of said board.

(e) Directors shall serve without compensation from the corporation, except for reimbursement of such incidental expenses determined by the board to be necessary and incurred while performing the business of said corporation.

(f) Directors shall be residents of the commonwealth. No director shall be an elected public official of the federal government, the commonwealth, or any political subdivision thereof, except that such restriction shall not apply to elected town meeting members of the town of Weymouth. Residents of the towns of Abington and Rockland who participate in their respective town meetings shall likewise not be restricted from service as a director of said corporation.

(g) Public employees or appointed officials of the federal government and the commonwealth and any of its political subdivisions may serve as directors of said corporation so long as their service as director does not constitute a conflict of interest with their duties as public employees or appointed officials.

(h) Directors shall be subject to the provisions of chapter 268A of the General Laws.

SECTION 9. If any director, or member of his immediate family shall be interested either directly or indirectly, or shall be a director, officer or employee of or have an ownership interest in any firm or corporation interested directly or indirectly, in any contract or other matter involving the corporation, such interest shall be disclosed to the board and shall be set forth in the minutes of the board. The member having such interest shall not participate on behalf of said corporation in any proceeding or decision relating to such contract or matter. For the purpose of this section, immediate family shall be deemed to include spouse, parent, parent-in-law, brother, brother-in-law, sister, sister-in-law, son, son-in-law, daughter, daughter-in-law, and the parent or child of any one of them.

SECTION 10. (a) There shall be an advisory board to the corporation consisting of (i) one voting representative appointed by the town of Abington and one voting representative appointed by the town of Hingham, (ii) two voting representatives appointed by the town of Rockland and two voting representatives appointed by the town of Weymouth, (iii) one voting representative of the metropolitan area planning council who shall be a member of and be designated by the board of the council and who shall reside in Norfolk county, (iv) one voting representative of the Old Colony planning council who shall be a member of and be designated by the board of the council and who shall reside in Plymouth county, and (v) three voting representatives to be appointed by the governor from the following categories: (1) one voting representative with skill and expertise in matters relating to environmental protection, (2) one voting representative with skill and expertise in matters relating to real estate development, and (3) one voting representative who shall be a member of the board of the South Shore chamber of commerce. The members of the advisory board representing a town shall be appointed by, and serve at the pleasure of, the board of selectmen of that town. The members of the advisory board appointed by the metropolitan area planning council and the Old Colony planning council shall serve at the pleasure of said councils. Said members of said advisory board appointed by the governor shall serve at the pleasure of the governor.

(b) The total voting membership of said advisory board shall be 11 votes, equally weighted. Said advisory board may act at regular periodic meetings called in accordance with its by-laws or at a special meeting called by the corporation or by six or more members of said advisory board. A quorum of said advisory board shall consist of six representatives. Said advisory board may act by the affirmative vote of a majority of the representatives present that constitute a quorum.

(c) For the conduct of its business said advisory board shall adopt and may revise and amend its own by-laws. Said advisory board shall annually elect from among its members a chairperson, a vice chairperson and a secretary and such other officers as said advisory board may determine. Each such officer shall serve in such capacity at the pleasure of said advisory board and may be removed from such position by majority vote of said advisory board. In the event of a vacancy, the appointing authority shall fill the vacancy for the unexpired term. Each member of said advisory board shall serve without compensation but may be reimbursed for all reasonable expenses incurred in the performance of his duties as approved by said advisory board and the corporation.

(d) The purposes of said advisory board shall be as follows:

(i) to review the annual report of the corporation and to prepare comments thereon for the benefit of said corporation, the governor and the towns, and to make such examinations of the reports on said corporation's records and affairs as said advisory board deems appropriate;

(ii) to hold regular meetings twice annually with the board of directors of said corporation and, at the discretion of said advisory board and with the concurrence of the board of directors of said corporation, special meetings with the board of directors of said corporation as it deems necessary and appropriate on matters relating to said corporation, and to hold meetings at any other time as said advisory board may determine;

(iii) to make recommendations to said corporation on its annual budget; and

(iv) to make recommendations to the governor, the general court, and the towns regarding said corporation and its programs.

(e) Said corporation shall provide such reasonable administrative and staff support to said advisory board as may be necessary for the efficient discharge of said advisory board's responsibilities pursuant to this act.

SECTION 11. The board may from time to time appoint an executive director, who shall devote his full time during business hours to the duties of his office, who shall receive compensation as said board may determine, and who shall serve at the pleasure of said board; a chief financial officer, who shall be the chief financial and accounting officer of the corporation and shall be in charge of its funds, books of accounts, and accounting records; and such other officers and employees as are necessary to the orderly functioning of said corporation. The executive director shall be well qualified to serve in this capacity and shall have, at a minimum, professional education in public administration or a related academic discipline and at least ten years of demonstrated experience in positions of comparable responsibilities. Said chief financial officer shall, at a minimum, have both education and at least ten years of demonstrated experience in the field of finance. Officers and employees of said corporation shall not be subject to the provisions of chapter 30 of the General Laws or section 9A, 45, 46, 51 or 52 of chapter 31 of the General Laws. Officers and employees of said corporation shall be subject to the provisions of chapter 268A of the General Laws. Compensation for employees of said corporation, including the executive director and chief financial officer, shall be set by said board.

SECTION 12. The corporation may hire, fix and pay compensation, prescribe duties and qualifications and establish personnel policies without regard to any personnel or civil service law or personnel or civil service rule of the commonwealth. The employees of said corporation shall not be classified employees of the commonwealth. Any individual employed by said corporation shall be deemed an employee at will and shall serve at the pleasure of said corporation.

SECTION 13. (a) The Reuse Plan prepared by the Naval air station planning committee and approved by majority vote of the town meetings of the three towns, and the zoning by-laws approved by a two-thirds vote of the town meetings of the three towns, shall govern the corporation's redevelopment of the NAS South Weymouth Redevelopment Area. Said zoning by-laws shall be effective on the date that the last of the three towns gives its approval of the same; provided, however, that neither the towns nor said corporation may initiate or undertake any redevelopment activity within the NAS South Weymouth Redevelopment Area, unless and until the three towns approve said zoning by-laws in accordance with this section. Once effective, said zoning by-laws shall supersede the existing zoning by-laws of the towns except to the extent the existing zoning by-laws are incorporated in the zoning by-laws. Adoption of the Reuse Plan and zoning by-laws by the towns shall constitute final acceptance of the same for the purposes of this act.

(b) A revision to the Reuse Plan or zoning by-laws considered to be substantial as that term is defined in the Reuse Plan and zoning by-laws shall not be effective until the towns, following public hearings, approve said revision. Within 90 days of receipt of a proposed substantial revision to the Reuse Plan or zoning by-laws, the board of selectmen of each of the towns shall convene a town meeting for the purpose of adopting by majority vote of each town meeting the substantial revision to the Reuse Plan, or adopting by two-thirds vote of each town meeting the substantial revision to the by-laws, as the case may be. Each town shall vote to adopt or disapprove the substantial revision to the Reuse Plan or zoning by-laws as submitted. No amendments to the proposed substantial revision to the Reuse Plan or zoning by-laws shall be made by the towns. Each town shall, within 30 days of adoption or rejection of a proposed substantial revision to the Reuse Plan or zoning by-laws at a town meeting, provide the secretary with a written notification stating whether the town meeting adopted or rejected the proposed substantial revision to the Reuse Plan or zoning by-laws. Until such time as all three towns have adopted the proposed substantial revision to the Reuse Plan or zoning by-laws, said change to the Reuse Plan or zoning by-laws shall have no force or effect. Revisions to the Reuse Plan or zoning by-laws not considered substantial pursuant to the guidelines set forth in the Reuse Plan or zoning by-laws shall be effective upon approval thereof by the corporation. Prior to approving any revision not considered substantial, said corporation shall formally notify and consult with the towns and the advisory board, publish a notice of public hearing in a newspaper of general circulation within the NAS South Weymouth Region, hold at least one public hearing in the NAS South Weymouth Redevelopment Area or in any one of the towns, and afford the opportunity for public comment at which the proposed revision to the Reuse Plan or zoning by-laws not considered substantial shall be considered and voted upon. Nothing in this section shall require said corporation to be governed by the requirements of chapter 30A of the General Laws.

(c) The procedures set forth in this section for the adoption of the Reuse Plan and zoning by-laws, whether such adoption occurs prior to or subsequent to the effective date of this act, and for adopting revisions to the Reuse Plan and zoning by-laws shall be exclusive notwithstanding any other provision of general or special law.

(d) Regulations for the effective implementation and enforcement of the Reuse Plan and zoning by-laws and revisions thereof shall be developed and adopted by the corporation, pursuant to section 6. No regulation shall be adopted by said corporation without first publishing notice of same in a newspaper of general circulation within the NAS South Weymouth Region, holding at least one public hearing in the NAS South Weymouth Redevelopment Area or in any one of the towns, and affording the opportunity for public comment. Nothing in this section shall require said corporation to be governed by the requirements of chapter 30A of the General Laws.

(e) Except where the provisions of the General Laws establish jurisdiction of another court or agency to act on appeal from such determination or approval when otherwise made by a municipal board, commission or official, any person aggrieved by a determination or approval of the corporation, whether or not previously a party to the proceeding, may appeal to the superior court or land court by bringing an action within 20 days after said corporation has filed its decision in each of the three towns' clerk's offices. Said 20 day period shall commence only after all such filings have been completed. The court shall hear all pertinent evidence and shall annul the determination of said corporation if it finds that said determination is unsupported by substantial evidence or exceeds the authority of said corporation, or it may remand the case for further action by said corporation or may make such other decree as is just and equitable.

(f) The Naval air station planning committee shall be disestablished on the 120th day following the effective date of enactment of this act or upon the appointment of the five members of the board of said corporation, whichever occurs first.

SECTION 14. The corporation shall, with the assistance of the secretary and the commissioner of revenue, hereinafter referred to as the commissioner, determine an appropriate plan, in accordance with the Reuse Plan and zoning by-laws approved by the towns, for said corporation's assessment of property taxes and other taxes generally available to be levied or assessed by municipalities under the General Laws, and user fees in the NAS South Weymouth Redevelopment Area. The plan shall provide for the imposition and levy of reasonable assessments, rates, property taxes and user fees upon persons, residents and estates lying within said NAS South Weymouth Redevelopment Area including both the central redevelopment and perimeter areas. Said corporation shall use as its property tax rate for businesses located within said NAS South Weymouth Redevelopment Area a rate which blends the business tax rates or equivalent thereof then applicable in the three towns, in proportion to the respective land area of each town within said NAS South Weymouth Redevelopment Area to the total land area within said NAS South Weymouth Redevelopment Area. Upon approval of such plan by the secretary and the commissioner, said corporation shall exercise all the powers granted to cities and towns to enable the collection of such taxes and other charges. The towns shall not be entitled to assess any fees or taxes on property, persons or businesses located in said NAS South Weymouth Redevelopment Area unless the towns or any one of them has by agreement with said corporation undertaken to issue specific licenses and permits to persons, businesses or other entities within said NAS South Weymouth Redevelopment Area. In such cases, the town issuing said licenses or permits may assess and collect a reasonable fee for the issuance of such licenses and permits from the licensees or permittees. The towns shall not be required to incur any costs or expenses related to the provision of municipal services within said NAS South Weymouth Redevelopment Area or to provide municipal services therein except pursuant to written agreement for the provision of the same with one or more of the towns. Each town shall be responsible for furnishing or funding the cost of municipal services furnished to any land within said NAS South Weymouth Redevelopment Area owned or leased by the towns.

SECTION 15. The executive office of administration and finance and the departments of housing and community development, labor and workforce development, and economic development are hereby authorized and directed to identify a senior staff member who shall assist the corporation with establishing a method for coordinating one-stop licensing for all businesses and developments to be located within the NAS South Weymouth Redevelopment Area for the purpose of expediting the process for obtaining commonwealth licenses, permits, certificates, approvals, registrations, charters and meeting any other requirements of law. Said corporation shall assist prospective developers by centrally coordinating the submission of licensing and permitting requests to the permitting agencies.

SECTION 16. Each public agency in the commonwealth involved in the development or financing of economic development projects is hereby authorized and directed to develop a coordinated one-stop program for businesses, institutions and private parties that may intend to locate in the NAS South Weymouth Redevelopment Area in order to enable development activities within said NAS South Weymouth Redevelopment Area to be more effectively promoted by the commonwealth.

SECTION 17. (a) Excess revenues of the corporation, as that term is defined in the Reuse Plan and zoning by-laws, shall be distributed by the board annually within 60 days following the end of said corporation's fiscal year to the towns of Abington, Rockland and Weymouth based upon the ratio of the land area of each town located within the boundaries of the NAS South Weymouth Redevelopment Area to the total acreage of said NAS South Weymouth Redevelopment Area.

(b) The sharing of tax and nontax revenues generated in said NAS South Weymouth Redevelopment Area shall continue based on the formula in subsection (a) in perpetuity following termination of said corporation in accordance with section 31.

SECTION 18. (a) The corporation is hereby authorized to provide by resolution for the issuance of revenue bonds of said corporation for the purposes of paying all or any part of the cost of a project or projects and operating and maintenance costs including, without limitation, the costs of acquiring real estate, of professional services, and any and all costs incidental to the planning, design, and development of the project or projects. Revenue bonds may pledge as security, among other things, notes, debentures, long term capital leases, and long term contracts. Said corporation may issue no more than $110,000,000 of such revenue bonds or notes as may be otherwise authorized. The principal of and interest on such bonds shall be payable solely from the funds provided herein for such payment. The bonds of each issue shall be dated, shall bear interest at such rates, which may be variable or fixed, and shall mature at such time or times not exceeding 20 years from their date or dates of initial issuance, as said corporation may determine, and may be made redeemable before maturity, at the option of said corporation, at such price or prices and under such terms and conditions as said corporation may fix prior to the issuance of the bonds. Said corporation shall determine the form of the bonds, including any interest coupons to be attached thereto, and the manner of execution of the bonds, and shall fix the denomination of the bonds and the place or places of payment of principal and interest. 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 of such bonds, such signature or such facsimile shall nevertheless be valid and sufficient for all purposes the same as if he had remained in office until such delivery. The bonds may be issued in coupon or registered form or both, as said corporation 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. The bonds may be issued in different series for different projects and may be either tax-exempt or taxable as permitted by law. Said corporation may sell such bonds in such manner, either at public or private sale, and for such price, as it may determine to be in the best interests of said corporation.

(b) The proceeds of such bonds shall be used solely for the payment of the cost of operations and maintenance and for projects determined by the board to be in furtherance of the purposes of said corporation and of this act, and shall be disbursed in such manner and under such restrictions, if any, as said corporation may provide. Prior to the preparation of definitive bonds, said corporation may, under like restrictions, issue interim receipts or temporary notes, with or without coupons, exchangeable for definitive bonds when such bonds have been executed and are available for delivery. Said corporation may also provide for the replacement of any bonds that shall become mutilated or shall by destroyed or lost. Revenue bonds may be issued under the provisions of this act subject only to those proceedings, conditions or things that are specifically required by this act.

(c) Said corporation is hereby authorized to provide by resolution for issuance of revenue refunding bonds of said corporation for the purpose of refunding any revenue bonds then outstanding and issued under the provisions of this act, including the payment of any redemption premium thereon and any interest accrued or to accrue to the date of redemption of such bonds, and, if deemed advisable by said corporation, for the additional purpose of constructing or reconstructing any extensions or improvements of the project. The issuance of such bonds, the maturities, and other details thereof, the rights of the holders thereof, and the duties of said corporation in respect to the same shall be governed by the provisions of this act insofar as the same may be applicable.

(d) While any bonds issued by said corporation remain outstanding, the powers, duties or existence of said corporation shall not be diminished or impaired in any way that will adversely affect the interests and rights of the holders of such bonds.

(e) The board may by resolution delegate to any director or to any officer of said corporation the power to determine any of the matters set forth in this section.

(f) Revenue and revenue refunding bonds issued under the provisions of this section, unless otherwise authorized by law, shall not be deemed to constitute a debt of the commonwealth or of the towns, or a pledge of the faith and credit of the commonwealth or of the towns, but such bonds shall be payable solely from the funds of said corporation or as otherwise provided in this act. Unless the towns or the commonwealth subsequently agree to pay said revenue and revenue refunding bonds of said corporation, then all such revenue and revenue refunding bonds shall contain on the face thereof a statement to the effect that neither the commonwealth nor the towns shall be obliged to pay the same or the interest thereon and that neither the faith and credit nor taxing power of the commonwealth or the towns is pledged to the payment of the principal of or the interest on such bonds.

(g) All revenue and revenue refunding bonds issued under the provisions of this section shall have and are hereby declared to have all the qualities and incidents of negotiable instruments.

(h) Prior to the issuance of any revenue bonds with a maturity date later than the date said corporation is required to be terminated pursuant to section 31, the boards of selectmen of the towns, in consultation with said corporation, shall enter into an intermunicipal debt service agreement acceptable to said corporation, which shall provide for the continued payment of principal and interest on such bonds and the maintenance of all required reserves and any other obligations as may be set forth in the applicable bond instruments solely from the tax and nontax revenues generated in the NAS South Weymouth Redevelopment Area and said corporation and the towns are hereby authorized to enter into and perform their respective obligations under such debt service agreement; provided, however, that such agreement shall not extend the duration of said corporation past the date on which it is to be terminated pursuant to section 31.

SECTION 19. (a) In the discretion of the corporation, revenue bonds or revenue refunding bonds may be secured by a trust agreement by and between said corporation and a corporate trustee. Such trust agreement may pledge or assign the revenues to be received, but shall not convey or mortgage any project or part thereof.

(b) Either the resolution providing for the issuance of bonds or the trust agreement may contain such provisions for protecting and enforcing the rights and remedies of the bondholders as may be reasonable and proper and not in violation of law, 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, and covenants setting forth the duties of, and limitations on, said corporation in relation to the acquisition, construction, improvement, enlargement, alteration, equipping, furnishing, maintenance, operation, repair, insurance and disposition of property, custody, safeguarding, investment, application of moneys, use of any surplus bond or note proceeds and establishment of reserves. Such resolution or trust agreement may also contain covenants by said corporation in relation to, among other things: (1) the establishment, revision and collection of such taxes, rents and charges for services or facilities furnished or supplied by said corporation as shall provide revenues which together with other revenues of the project, if any, are sufficient to pay (i) the cost of maintaining, repairing and operating the project and of making renewals and replacements in connection therewith, (ii) the principal of and the interest on said revenue bonds, as the same shall become due and payable, (iii) payments in lieu of taxes, betterments and special assessments, and (iv) reserves for all such purposes; (2) the purpose or purposes for which the proceeds of the sale of the bonds will be applied and the use and disposition thereof; (3) the use and disposition of the gross revenues of said corporation from the project, any additions thereto and extension and improvements thereof, including the creation and maintenance of funds for working capital and for renewals and replacements to the project; (4) the amount, if any, of additional revenue bonds payable from the revenues of the project and the limitations, terms and conditions on which such additional revenue bonds may be issued; and (5) the operation, maintenance, management, accounting and auditing of the project and of the income and revenues of said corporation.

(c) It shall be lawful for any bank or trust company incorporated under the laws of the commonwealth to act as depository of the proceeds of bonds or of revenues and to furnish such indemnifying bonds or to pledge such securities as may be required by said corporation. Such trust agreement may set forth the rights and remedies of the bondholders and of the trustee, and may restrict the individual right of action by bondholders as is customary in trust agreements or trust indentures securing bonds and debentures of corporations. In addition to the foregoing, such trust agreement may contain such other provisions as said corporation may deem reasonable and proper for the security of the bondholders. All expenses incurred in carrying out the provisions of such trust agreement may be treated as a part of the cost of the operation of the project. The pledge by any such trust agreement or resolution shall be valid and binding from the time when the pledge is made; the revenues or other moneys so pledged and then held or thereafter received by said corporation shall immediately be subject to the lien of such pledge without any physical delivery thereof or further act; and the lien of any such pledge shall be valid and binding as against all parties having claims of any kind in tort, contract or otherwise against said corporation, irrespective of whether such parties have notice thereof. The financing document by which any pledge is created by said corporation shall not be required to be filed or recorded to perfect such pledge except in the official records of said corporation and no Uniform Commercial Code filing shall be required to be made.

SECTION 20. Revenue bonds and revenue refunding bonds issued under the provisions of this act are hereby made securities in which all public officers and public bodies of the commonwealth and its political subdivisions, all insurance companies, trust companies and their commercial departments and within the limits set forth in chapter 172 of the General Laws, banking associations, investment companies, executors, trustees and other fiduciaries, and all other persons whatsoever who are now or may hereinafter be authorized to invest in bonds or other obligations of a similar nature may properly and legally invest funds, including capital in their control or belonging to them; and such bonds are hereby made obligations that may properly and legally be made eligible for the investment of savings deposits and the income thereof in the manner provided in chapter 168 of the General Laws. Such bonds are hereby made securities that may properly and legally be deposited with and received by any state or municipal officer or any agency or political subdivision of the commonwealth 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 21. Any holder of bonds issued under the provisions of this act or any coupons pertaining thereto, and the trusts, except to the extent the rights herein given may be restricted by the trust agreement, may, by commencing a civil action, protect and enforce any and all rights under the laws of the commonwealth or granted hereunder or under the trust agreement, and may enforce and compel the performance of all duties required by this act or by the trust agreement, to be performed by the corporation or by any officer thereof.

SECTION 22. The towns and the commonwealth are pledged to agree with the holders of the bonds or notes that neither the towns nor the commonwealth shall limit or alter or cause to limit or alter the rights hereby vested in the corporation to acquire, construct, reconstruct, improve, maintain, equip and furnish the project or projects, to establish and collect rentals, fees and other charges and to fulfill the terms of any agreements made with the holders of the bonds or notes nor in any way impair the rights and remedies of the bondholders or noteholders, until the bonds or notes, together with interest thereon, with interest on any unpaid installments of interest and all costs and expenses in connection with any action or proceeding by or on behalf of the bondholders or noteholders, are fully met and discharged.

SECTION 23. (a) It is hereby determined that the creation of the corporation and the carrying out of its corporate purposes is in all respects for the benefit of the people of the commonwealth and is a public purpose, and said corporation shall be regarded as performing a governmental function in the exercise of the powers conferred upon it by this act and shall be required to pay no taxes or assessments upon any of the property acquired by it or under its jurisdiction, control or supervision or upon its activities.

(b) Any bonds issued under this act, including any exchange, sale or transfer of such bonds, and any income derived therefrom, as well as the property of the agency, shall at all times be free from taxation by the commonwealth or any political subdivision or entity thereof.

SECTION 24. The corporation shall be liable in contract and in tort in the same manner as a municipal corporation. The directors, officers, employees and agents of said corporation including members of the advisory board established pursuant to section 10, shall not be liable as such on their contracts or for torts not committed or directly authorized by them. The property or funds of said corporation shall not be subject to attachment or to levy and sale on execution, but if said corporation 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 said corporation is situated, may direct the treasurer of said corporation to pay such judgment. The real estate owned by said corporation shall not be subject to liens under chapter 254 of the General Laws but the provisions of sections 28 and 29 of chapter 149 of the General Laws shall be applicable to any construction work by said corporation.

SECTION 25. Notwithstanding the provisions of any general or special law to the contrary, the corporation shall be deemed to be a public employer for purposes of chapter 258 of the General Laws.

SECTION 26. (a) The corporation may, if appropriate, make application to the Untied States Department of Housing and Urban Development or, as necessary, any other federal agency, to designate all or a portion of the NAS South Weymouth Redevelopment Area as an enterprise zone, pursuant to 42 U.S.C. section 11501 et seq., as amended, or any existing or successor statute for the purpose of creating jobs and encouraging development in said NAS South Weymouth Redevelopment Area.

(b) Said NAS South Weymouth Redevelopment Area and the towns of Abington, Rockland and Weymouth are hereby designated economic target and economic opportunity areas as defined in sections 3D and 3E of chapter 23A of the General Laws. Pursuant to such designation, certain development projects within said NAS South Weymouth Redevelopment Area and the towns of Abington, Rockland and Weymouth shall be eligible for tax deductions, credits and abatements and other economic incentives as provided for in sections 3E to 3H of said chapter 23A. Said corporation shall render such certifications as are required by law for projects within the central redevelopment area and each town shall render such certifications within its respective sector of the perimeter area. The designation of said NAS South Weymouth and the towns of Abington, Rockland and Weymouth as economic target areas shall be in addition to the 20 economic target areas that are authorized to be established throughout the commonwealth pursuant to paragraph 5 of said section 3E of said chapter 23A.

SECTION 27. The corporation shall be subject to all laws applicable to municipal redevelopment authorities created under section 4 of chapter 121B of the General Laws.

SECTION 27A. The corporation or its agent may enter into project labor agreements covering construction performed on and during redevelopment of the NAS South Weymouth Redevelopment Area pursuant to paragraphs (p) and (z) of this act.

SECTION 28. The corporation shall keep an accurate account of all of its activities and all receipts and expenditures. Said corporation shall prepare annual reports of its activities in the NAS South Weymouth Redevelopment Area during the preceding fiscal year and submit such reports to the governor, secretary, general court, advisory board and boards of selectmen of the towns. Each such report shall set forth a complete operating and financial statement covering said corporation's operations in said NAS South Weymouth Redevelopment Area during the previous year. Said corporation shall cause an audit of its books and accounts relating to said NAS South Weymouth Redevelopment Area to be made at least once in each fiscal year by certified public accountants. Such audit shall be filed with the state auditor annually on or before the one hundred and twentieth day following the end of said corporation's fiscal year and shall be in a form prescribed by the state auditor. Said auditor shall likewise audit said corporation's books and accounts at least once every two fiscal years. Said auditor may investigate the budget and finances, transactions and relationships of said corporation at any time and shall have the power to examine said corporation's records and to prescribe methods of accounting and the rendering of periodic reports. All such audits of said corporation shall be deemed to be public records.

SECTION 29. The provisions of sections 23A to 23C of chapter 39 of the General Laws shall be applicable to the corporation.

SECTION 30. (a) Unless otherwise extended by operation of subsection (b), the corporation shall be dissolved no later than the last day of the twentieth year following the effective date of this act, or on the date that the redevelopment of the NAS South Weymouth Redevelopment Area contemplated in the Reuse Plan and zoning by-laws is fully accomplished, whichever occurs first; provided, however, that termination of said corporation shall not occur prior to the date on which the entire outstanding indebtedness of said corporation is fully retired pursuant to the terms and conditions of any debt and trust instruments entered into by said corporation as authorized by this act, unless such indebtedness is transferred to a party acceptable to the debt holders which shall be responsible for fulfilling all terms and conditions to which said corporation was previously obliged, in which case said corporation shall be terminated as hereinabove described; provided, further, that the duration of said corporation may be extended for an additional period of five years following the end of the 20 year period, but only upon the unanimous request to the general court from the three towns, signified by a majority vote of the boards of selectmen of each town, and enactment by the general court of an act extending the life of said corporation. In no event may said corporation issue any revenue bonds or other debt instruments which provide for a maturity date later than the last day of the twentieth year following the effective date of this act, unless: (i) said corporation is expressly authorized to do so by duly enacted legislation following receipt by the general court of home rule petitions approved by two-thirds votes of the town meetings of the towns, or (ii) a debt service agreement as referenced in paragraph (h) of section 18 has been entered into.

(b) At least 24 months prior to the termination date of said corporation, unless any matter which would otherwise be addressed therein requires earlier agreement among the towns, the towns shall enter into an intermunicipal agreement in accordance with section 4A of chapter 40 of the General Laws which, among other things, shall provide for the following: (i) disposition of all real and personal property within the NAS South Weymouth Redevelopment Area which said corporation owns or has any interest in on the date of termination, (ii) assumption of all contractual obligations including all lease agreements of said corporation which do not expire on the date of termination, (iii) assessment, collection and distribution of tax and nontax revenues to the towns in accordance with section 17, (iv) arrangement for the provision of, and reimbursement for, municipal services furnished by the towns to the NAS South Weymouth Redevelopment Area which continue after the date of termination, (v) arrangements for the transfer and assumption by the towns of said corporation's zoning administration, licensing and permitting authorities, and (vi) resolution of any other matters relating to said corporation which the towns determine to be in their best interests. The towns are hereby authorized to enter into and perform their respective obligations under such intermunicipal agreement. Notwithstanding the termination provisions of subsection (a), said corporation shall not be dissolved unless and until the three towns have entered into and executed the intermunicipal agreement provided for in this subsection.

SECTION 31. This act shall take effect upon its passage.

Approved August 14, 1998.

Error