AN ACT PROVIDING FOR CAPITAL FACILITY IMPROVEMENTS AND REPAIRS.
Be it enacted by the Senate and House of Representatives
in General Court assembled, and by the authority of the same,
To meet the remaining expenditures necessary in carrying
section 2E of chapter 88 of the acts of 1997, section 19 of
chapter 289 of the acts of 1998, sections 2A and 36 of chapter 55 of the acts
section 2A of chapter 150 of the acts of 2000, and sections 2E and 81 of
chapter 236 of the acts of 2000, the state treasurer shall, upon request of
issue and sell bonds of the commonwealth in amounts to be specified by the
governor from time to time but not exceeding, in the aggregate, the sum of
$101,804,155. All bonds issued by the commonwealth, as aforesaid, shall be
designated on their face, Capital Outlay Loan, Act of 2002, 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, but all such bonds shall be payable not later
than June 30, 2027. All interest and payments on account of principal of such
obligations shall be payable from the General Fund unless otherwise specified.
Bonds and interest thereon issued under authority of this section shall be
general obligations of the commonwealth.
This act shall take effect upon its passage.