AN ACT RELATIVE TO BORROWING BY THE TOWN OF MILFORD FOR THE FUNDING OF THE GERIATRIC AUTHORITY OF MILFORD.
Be it enacted by the Senate and House of Representatives
in General Court assembled, and by the authority of the same,
Section 10A of chapter 76 of the acts of 1982, as
amended by chapter 489 of the acts of 2004, is hereby further amended by
the third sentence and inserting in place thereof the following
sentence:- Each authorized issue shall constitute a separate loan, the loans
shall be paid in not more than 40 years from their dates and the maturities of
each loan shall be arranged so that the amounts payable in the several
years for principal and interest combined shall be as nearly equal as
practicable in the opinion of the officers authorized to issue the bonds or
notes or, in the alternative, in accordance with a schedule providing a more
rapid amortization of principal.
This act shall take effect upon its passage.