AN ACT PROVIDING THE TERMS OF CERTAIN BONDS TO FINANCE THE MUNICIPAL ROAD AND BRIDGE MAINTENANCE NEEDS OF THE COMMONWEALTH.
Whereas, The deferred operation of this act would tend to defeat its purpose, which is to provide forthwith the terms of certain bonds to finance the municipal road and bridge maintenance needs of the commonwealth, 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 3 of chapter 10 of the acts of 2011 shall be issued for a term not to exceed 30 years. All such bonds shall be payable not later than June 30, 2046, as recommended by the governor in a message to the general court dated June 14, 2011 under section 3 of Article LXII of the Amendments to the Constitution.
SECTION 2. Section 2B of chapter 240 of the acts of 2010 is hereby amended by striking out the item number “1100-7400” and inserting in place thereof the following item number:- 1100-7500.
SECTION 3. Said section 2B of said chapter 240 is hereby further amended by striking out the item number “7007-9031” and inserting in place thereof the following item number:- 7007-9040.
Approved, July 28, 2011.