AN ACT PROVIDING THE TERMS OF CERTAIN BONDS TO BE ISSUED BY THE COMMONWEALTH TO FINANCE IMPROVEMENTS TO THE COMMONWEALTH’S TRANSPORTATION SYSTEM.
Whereas, The deferred operation of this act would tend to defeat its purposes, which is to facilitate forthwith the issuance of certain bonds to finance improvements to the commonwealth’s transportation system, 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:
Notwithstanding any general or special law to the contrary, the bonds that the state treasurer may issue under sections 14 to 17, inclusive, of chapter 242 of the acts of 2012 shall be issued for terms not to exceed 30 years. All such bonds shall be payable not later than June 30, 2047, as recommended by the governor in a message to the general court dated August 16, 2012 under section 3 of Article LXII of the Amendments to the Constitution.
Approved, October 4, 2012.