AN ACT AUTHORIZING DEFERMENT OF THE HALE HOSPITAL DEFICIT NOTES BY THE CITY OF HAVERHILL.
Be it enacted by the Senate and House of Representatives
in General Court assembled, and by the authority of the same,
The second paragraph of section 1 of chapter 387 of the
acts of 2000 is hereby amended by striking out the last sentence and inserting
in place thereof the following sentence:- Notwithstanding section 5 of chapter 44A of the General Laws or any other general or special law to the
contrary, any bond or note issued under the authority of this act shall be
payable not later than June 30, 2023.
The third paragraph of said section 1 of said
chapter 387 is hereby amended by inserting after the word "principal", in
line 6, the following words:- ; provided, however, that the amount of
principal to be paid in each of fiscal years 2005 through 2009 need not exceed
1/2 of the amount which otherwise would have been payable in each such fiscal
year, if bonds had been issued in fiscal year 2004 with maturities arranged so
that the amounts payable in the several years for principal and interest
combined were as nearly equal as practicable.
Said section 1 of said chapter 387 is hereby further
amended by adding the following paragraph:-
Notwithstanding section 17 of chapter 44 of the General Laws, any temporary
loans issued in anticipation of money to be derived from the sale of bonds or
notes hereunder, and any temporary loans issued to refund a prior temporary
loan, may mature at any time not later than June 30, 2023. Any such
temporary loan or loans shall be paid in part from revenue funds on its
maturity date in the amount, if any, hereinafter required. Each such payment
from revenue funds shall be at least equal to the minimum annual payment which
would have been required under this act if such temporary loan had been issued
as a serial loan on the date of issue of such temporary loan or any prior
temporary loan being directly or indirectly refunded by such temporary loan.
The third paragraph of section 4 of said chapter 387 is
hereby amended by striking out the last sentence.
This act shall take effect upon its passage.