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Session Law

2010

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Chapter 164 AN ACT PROVIDING THE TERMS OF CERTAIN BONDS AND NOTES TO BE ISSUED BY THE COMMONWEALTH.

Whereas, The deferred operation of this act would tend to defeat its purpose, which is to provide forthwith for the restructuring of certain capital obligations of the commonwealth and the issuance of certain notes, 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:

SECTION 1. Notwithstanding any general or special law to the contrary, the bonds that the state treasurer may issue under section 1 of chapter 150 of the acts of 2010 shall be issued for terms not to exceed 6 years, as recommended by the governor in a message to the general court dated July 8, 2010, under section 3 of Article LXII of the Amendments to the Constitution.

SECTION 2. Notwithstanding any general or special law to the contrary, the notes that the state treasurer may issue under section 3 of chapter 150 of the acts of 2010 shall be issued for terms not to exceed 1 year. All such notes shall be payable not later than June 30, 2011, as recommended by the governor in a message to the general court dated July 8, 2010, under section 3 of Article LXII of the Amendments to the Constitution.

Approved July 12, 2010


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