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  • Acts
  • 2004
  • Chapter 109 AN ACT RELATIVE TO THE TERMS OF CERTAIN BONDS TO BE ISSUED BY THE COMMONWEALTH.

Whereas , The deferred operation of this act would tend to defeat its purpose, which is forthwith to facilitate the issuance of bonds to carry out the purposes of certain acts passed by the general court, 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:

Chapter 2 of the acts of 1998 is hereby amended by striking out section 1 and inserting in place thereof the following section:-

Section 1. Notwithstanding any law to the contrary, the bonds which the state treasurer is authorized to issue under section 11 of chapter 152 of the acts of 1997, as most recently a section 524 of chapter 26 of the acts of 2003, shall be issued for a term not to exceed 30 years. All such bonds shall be payable by June 30, 2038, as recommended by the governor in a message to the general court dated October 27, 2003, in pursuance of Section 3 of Article LXII of the Amendments to the Constitution.

Approved May 21, 2004.