AN ACT REGULATING FINANCING OF CONSTRUCTION OF SEWER SYSTEM EXTENSIONS IN THE TOWN OF CONCORD.
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same as follows:
SECTION 1. Notwithstanding any general or special law to the contrary, the town of Concord may charge an interest rate for betterment assessments equal to the interest cost to the town for financing each phase of the comprehensive wastewater management plan.
Notwithstanding any general or special law to the contrary, the board of assessors
of the town of Concord may, at the request of the owner of the land assessed,
apportion all assessments for sewer projects in the town or unpaid balances
of those assessments, inclusive of current and projected future interest charges,
into not more than 20 annual payments such that the amounts payable in the several
years for principal and interest combined are as nearly equal as practicable.
These equal portions may be further apportioned and collected by the town on
quarterly tax bills or a single tax bill at the option of the town. An owner
of land assessed may pay the total unapportioned amount due without a prepayment
penalty.
Approved May 4, 2006.