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  • Acts
  • 2000
  • Chapter 221 AN ACT RELATIVE TO THE FINANCES OF THE MASSACHUSETTS BAY TRANSPORTATION AUTHORITY.

Whereas , The deferred operation of this act would tend to defeat its purpose, which is forthwith to make certain changes in the law relative to the finances of the Massachusetts Bay Transportation Authority, 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 2E of chapter 127 of the acts of 1999 is hereby amended by striking out item 6005-9986 and inserting in place thereof the following item:- `tc1 6005-9986 `tc4 For the purpose of establishing the commonwealth's share of financing for the Massachusetts Bay Transportation Authority on a contemporaneous basis; provided, that the state treasurer is hereby authorized to make payments to said authority from the sum authorized herein for amounts due the authority for the net cost of service, as defined by section 1 of chapter 161A of the General Laws, and for commuter rail assistance, for fiscal year 2000 and for prior fiscal years plus $100,000,000 to fund working capital; provided, that the aggregate amount paid from this item shall not exceed the total of the actual amounts due said authority for the retirement of temporary notes of the authority, as certified by the state comptroller; and provided further, that said notes shall be retired no later than September 1, 2000 `tc6 $325,000,000 `tcol;end

Approved August 10, 2000.