AN ACT RELATIVE TO THE EXPANSION OF THE BOSTON CONVENTION AND EXHIBITION CENTER
Whereas, The deferred operation of this act would tend to defeat its purpose, which is to facilitate forthwith the issuance of certain bonds and provide for the expansion of the Boston convention and exhibition center, 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. To provide for the expansion of the Boston convention and exhibition center, the sum set forth in section 2 is hereby made available, subject to the laws regulating the disbursement of public funds and the approval thereof.
SECTION 2.
EXECUTIVE OFFICE FOR ADMINISTRATION AND FINANCE
SECTION 2A. Section 14C of chapter 7 of the General Laws, as appearing in the 2012 Official Edition, is hereby amended by inserting after the word “council”, in line 10, the following words:- , the Massachusetts Convention Center Authority.
SECTION 2B. Subsection (e) of section 35 of chapter 190 of the acts of 1982 is hereby amended by striking out, in line 3, the word “functions”and inserting in place thereof the following words:- functions. Such contracts may include, without limiting the foregoing, partnership agreements including limited partnership agreements, joint ventures, participation agreements or equity investments. For the purposes of this subsection, “equity investments” shall mean shares in private entities, whether or not transferable or denominated stock, or interest of a limited partner in a limited partnership or membership interest in a limited liability company. With respect to any contract or agreement authorized by the preceding 2 sentences, any documentary materials or data whatsoever made or received by a member or employee of the Authority and consisting of, or to the extent that such materials or data consist of, trade secrets or commercial or financial information regarding the operation of any business conducted by a private entity under contract with the Authority or regarding the competitive position of such private entity in a particular field of endeavor shall not be deemed public records of the Authority and shall not be subject to section 10 of chapter 66 of the General Laws. Notwithstanding section 20 of chapter 30A of the General Laws, any discussion or consideration of such trade secrets or commercial or financial information may be held by members of the Authority in executive sessions closed to the public, but the purpose of such executive session shall be set forth in the official minutes of the Authority and no business which is not directly related to such purpose shall be transacted nor shall any vote be taken during such executive session.
SECTION 3. The Authority shall comply with section 27H of chapter 149 of the General Laws.
No agreement or contract which provides security guard services for the Authority, unless pursuant to a collectively bargained agreement, shall be entered into or given by the Authority unless the contract or agreement contains a stipulation requiring prescribed rates of wages, as determined by the director of labor standards, to be paid to the employees providing security guard services. Any contract which does not contain said stipulation shall be invalid and no payment shall be made thereunder. The rates of wages shall be requested of the director of labor standards and shall be furnished by the director of labor standards in a schedule containing the classifications of jobs and rate of wages to be paid for each job. The rates of wages shall include payments to health and welfare plans and pension plans or, if no such plan is in effect between employers and employees, the amount of such payments shall be paid directly to the employees. Whoever pays less than said rates of wages, including payments to health and welfare funds and pension funds, or the equivalent in wages, on said works, and whoever accepts for such person’s own use, or for the use of any other person as a rebate, gratuity or in any other guise, any part or portion of said wages, health and welfare funds or pension funds, shall have violated this section and shall be punished or shall be subject to a civil citation or order as provided in section 27C of chapter 149 of the General Laws.
An employee claiming to be aggrieved by a violation of the previous paragraph may, 90 days after filing a complaint with the attorney general or sooner if the attorney general assents in writing and within 3 years after the violation, institute and prosecute in the employee’s own name and on the employee’s own behalf or for the employee and for others similarly situated a civil action for injunctive relief, for damages incurred and for lost wages and other benefits. An employee so aggrieved who prevails in such an action shall be awarded treble damages, as liquidated damages, for lost wages and other benefits and shall also be awarded the costs of the litigation and reasonable attorneys’ fees.
SECTION 4. As used in this act, the following words shall have the following meanings, unless the context clearly requires otherwise:
“Authority”, the Massachusetts Convention Center Authority, established pursuant to section 33 of chapter 190 of the acts of 1982, or, if said Authority shall be abolished, the board, body or commission succeeding to the principal functions thereof or to whom the powers given by this act to said Authority shall be given by law.
“BCEC expansion project”, the planning, design, acquisition, development, construction, expansion, rehabilitation, improvement, furnishing, equipping and finishing or any combination of the foregoing within the convention center development area of an approximately 1,300,000 square foot expansion to the Boston convention and exhibition center containing approximately 335,000 square feet of additional contiguous exhibition space and attendant meeting rooms, lecture rooms, ballrooms, multi-purpose space and related common areas for public circulation, service and support, together with all necessary and related furnishings, furniture, machinery, equipment, facilities, approaches, driveways, walkways, roadways, planting and landscaping associated therewith; the acquisition by the Authority in accordance with section 212 of chapter 139 of the acts of 2012 and this act, of lands and other property, or rights, air rights, sub-surface rights, easements, leases, ground leases and other interests in respect of lands and other property, adjacent to or within the general vicinity of the convention center development area to provide for parking facilities, truck marshalling areas and as sites for other facilities supporting the Boston convention and exhibition center, including without limitation, facilities constructed by lessees of the Authority and others to provide services or accommodations for the public within the BCEC Hotel Zone as defined in section 211 of said chapter 139 or if otherwise authorized or permitted by law; the demolition or removal of any buildings or structures within the convention center development area or on such lands or other property or interests therein so acquired and site preparation, permitting and environmental remediation thereof; the planning, design, acquisition, development, construction, equipping and finishing or any combination of the foregoing on a portion of such lands or other property or interests therein so acquired of 1 or more parking garages for persons presenting at or attending the Boston convention and exhibition center, or utilizing such public accommodations, and other members of the general public; and measures mitigating the local impact of the foregoing, in each case of a scale and scope generally consistent with the description thereof contained in the BCEC expansion project report.
“BCEC expansion project report”, the report, feasibility study and program pertaining to the BCEC expansion project delivered to the clerks of the senate and the house of representatives and the senate and house committees on ways and means, dated November 19, 2013.
“Boston convention and exhibition center” or “BCEC”, the convention and exhibition center and related facilities so called, and all real and personal property associated therewith, owned and operated by the Authority within the convention center development area and acquired, developed, constructed, improved, furnished, equipped and otherwise carried out in accordance with section 5 of chapter 152 of the acts of 1997. If appropriate, “Boston convention and exhibition center” shall also mean such convention and exhibition center as expanded in accordance with this act.
“City”, the city of Boston.
“Convention center development area”, the area within the city of Boston bounded and described as follows: beginning at the intersection of the eastern boundary of the South Boston Bypass road, and the southern boundary of Summer street, thence easterly along the southern boundary of Summer street to the intersection of the western boundary of D street, then southerly along the western boundary of D street to the centerline of Cypher street, then westerly along the centerline of Cypher street with a line extended to the eastern boundary of the South Boston Bypass road, and then northerly along the eastern boundary of the South Boston Bypass road to the point of beginning.
“Convention Center Fund”, the Convention and Exhibition Fund established by section 10 of chapter 152 of the acts of 1997.
“Cost”, as applied to the BCEC expansion project, all costs, whenever incurred, including without limitation reimbursement to the Convention Center Fund of any such costs funded from amounts applied to such purposes pursuant to section 212 of chapter 139 of the acts of 2012 and subsection (c) of section 10 of chapter 152 of the acts of 1997 of acquiring, developing, constructing, improving, furnishing, equipping, finishing and carrying out the BCEC expansion project, including without limiting the generality of the foregoing; the costs of all labor, materials, machinery and equipment necessary to carry out the BCEC expansion project; the costs of all lands and other property and all rights, air rights, sub-surface rights, easements, leases, ground leases and other interests in lands and other property, acquired by the Authority in connection with the BCEC expansion project; the costs of environmental investigation and analyses and remediation, site preparation and other development costs thereof and of the facilities constructed thereon; the costs of permitting, inspection and licensure and of measures mitigating the local impact of the BCEC expansion project; the costs of demolition and removal of any buildings or structures within the convention center development area or on such lands, property, rights and interests so acquired and removal or relocation of any public utilities and other facilities thereon; the costs of architectural, engineering and legal services, plans, specifications, surveys, estimates of cost and of revenues, including without limitation, the BCEC expansion project report, other expenses necessary or incident to determining the feasibility or practicability of the BCEC expansion project, administrative, marketing and promotion expenses; and financing charges, interest prior to and during construction and for a period not exceeding 2 years after completion of construction, reserves for debt service and such other capital and current expenses as may be necessary or incident to the construction or acquisition of the BCEC expansion project, the financing thereof and the issuance of bonds or notes by the commonwealth pursuant to this act.
“Minority business enterprise” or “MBE” shall have the same meaning as “minority-owned business” as defined in section 6 of chapter 7C of the General Laws.
“Women business enterprise” or “WBE” shall have the same meaning as “women-owned business” as defined in said section 6 of said chapter 7C.
“Service-disabled veteran-owned small business enterprise” or “SDVOBE” shall have the same meaning as “service-disabled veteran-owned small business” in subsection (i ½) of section 61 of chapter 7 of the General Laws.
SECTION 5. (a) The Authority may acquire, develop, lease, construct, improve, furnish, equip, finish and otherwise carry out the BCEC expansion project, and may own, operate, lease, sublease, license, promote, maintain, improve and rehabilitate the same, either directly or indirectly in whole or in part through agents, lessees, contractors, concessionaires or others, subject to this act.
(b) The Authority may acquire such lands, properties, rights, air rights, sub-surface rights, easements, leases, ground leases and other interests identified in the BCEC expansion project report as the Authority deems necessary, appropriate or convenient to carry out the purposes of this act. To carry out and effectuate the foregoing purposes, the Authority may acquire by purchase, lease, gift, bequest, grant or otherwise from any party, public or private, and hold, clear, repair, operate, lease and convey, any lands and other property, real or personal, improved or unimproved, tangible or intangible, and any interest therein, including, to the extent consistent with federal law, railroad properties. To the extent consistent with federal law, the acquisition by the Authority of railroad rights-of-way or related facilities as aforesaid from any department, authority, agency or political subdivision of the commonwealth, from any railroad company, or from any other party, shall be exempt from the procedures, findings and requirements of section 7 of chapter 161C of the General Laws, and the issuance of any permit for any portion of the BCEC expansion project or for facilities constructed by lessees of the Authority and others as a part thereof on any lands formerly used as a railroad right-of-way or any property appurtenant thereto formerly used by any railroad company in the commonwealth shall be exempt from section 54A of chapter 40 of the General Laws.
(c) Notwithstanding any general or special law to the contrary, the commissioner of public safety or a designee in the division of inspection of the department of public safety shall be solely responsible for inspection, enforcement, permitting and licensure of the BCEC expansion project authorized or required by chapter 143 of the General Laws or section 21 of chapter 40 of the General Laws and regulations referred to therein or adopted pursuant thereto. The BCEC expansion project shall be exempt from compliance with the city’s zoning code and any regulations promulgated thereunder; provided, however, the Authority shall subject the BCEC expansion project to large project review as set forth in subsections 1 to 5, inclusive, of section 80B-3 of the city’s zoning code.
(d) The Authority shall prepare or cause to be prepared a report regarding the BCEC expansion project in accordance with section 62B of chapter 30 of the General Laws; provided however, that notwithstanding sections 62 to 62H, inclusive, of said chapter 30, the Authority may commence and undertake research, planning, design and other work necessary for the BCEC expansion project and may engage an owner’s project manager, architects and engineers and a construction manager therefor as provided in section 6 and may take all actions necessary or appropriate or required for acquisition of lands or other property, rights, air rights, sub-surface rights, easements, leases, ground leases and other interests as provided in this section, prior to the publication of a final environmental impact report pursuant to this section and section 62C of said chapter 30.
SECTION 6. (a) In undertaking the BCEC expansion project, the Authority shall establish: (i) a supplier diversity program designed and implemented to achieve meaningful participation on the part of minority business enterprises, service-disabled veteran-owned small business enterprises and women business enterprises in all phases of the management and oversight, design and construction of the BCEC expansion project, including pre-construction and post-construction activities until building operations commence, and which incorporates this subsection and clause (iii) of subsection (c); (ii) a workforce diversity program designed and implemented to achieve meaningful participation of Boston residents, minority persons and women as construction employees pursuant to clause (ii) of subsection (c); and (iii) a construction workforce training program designed and implemented to provide access and training to those traditionally under-represented in the construction trades, including minority persons and women. The Authority shall engage an owner’s project management team for the BCEC expansion project in accordance with the manner of selecting an owner’s project manager pursuant to section 44A 1/2 of chapter 149 of the General Laws. In selecting an owner’s project management team, the Authority shall establish a selection process that encourages the participation of a minority business enterprise, a service-disabled veteran-owned small business enterprises or a women businesses enterprise as part of the owner’s project management team. The owner’s project management team shall serve as the Authority’s agent and consultant during the planning, design and construction of the BCEC expansion project. The Authority shall select architects and other design professionals for the BCEC expansion project in accordance with the procedures approved by the designer selection board of the executive office for administration and finance; provided, that prior to and in the selection of said architects and design professionals, the Authority shall adopt participation goals that provide for the meaningful participation of minority business enterprises, service-disabled veteran-owned small business enterprises and women business enterprises as architects and design professionals; provided further, that said participation goals shall be equal to or exceed the combined participation goals for minority business enterprises and women business enterprises on design projects as established by the division of capital asset management and maintenance pursuant to section 6 of chapter 7C of the General Laws and in effect as of January 1, 2013.
(b) Notwithstanding any general or special law to the contrary, the Authority shall utilize the construction manager at risk approach in construction of the BCEC expansion project, as provided in subsections (f) and (g) of section 5 of chapter 152 of the acts of 1997, and shall select trade contractors for the BCEC expansion project, as provided in said subsection (h) of said section 5 of said chapter 152, and in each case shall follow the procedures previously adopted by the Authority for construction of the Boston convention and exhibition center in consultation with the commissioner of capital asset management and maintenance and with the review of the inspector general of the commonwealth; provided, that: (i) the responsibilities assigned to a technical advisory board in said subsection (f) of said section 5 of said chapter 152 shall be performed by a selection committee appointed by the Authority which, in consultation with the Authority, shall determine the procedures to be applied in the selection of a construction manager for the BCEC expansion project; and (ii) the decisions of such selection committee, and the decisions of the trade contractor prequalification committee, appointed by the Authority in accordance with said subsection (h) of said section 5 of said chapter 152, shall be final and not subject to appeal except on grounds of fraud or collusion. The Authority shall consult with the division of capital asset management and maintenance and the inspector general with respect to any modifications to the procedures for selection of a construction manager or the procedures for selection of trade contractors as previously adopted and utilized for the construction of the Boston convention and exhibition center pursuant to said section 5 of said chapter 152; provided, however, that the division of capital asset management and maintenance shall otherwise have no jurisdiction over the BCEC expansion project.
(c) Except as otherwise agreed to between the Authority and the construction manager, all contracts for the provision of labor, material and equipment in connection with the construction of the BCEC expansion project shall be entered into by and between the construction manager and the trade contractor as provided in subsection (h) of section 5 of chapter 152 of the acts of 1997; provided, that the purchase of tangible personal property and services for the BCEC expansion project by the construction manager and by trade contractors shall be exempt from the excise imposed by chapter 64H of the General Laws. Subsection (h) of said section 5 of said chapter 152 pertaining to construction employees shall also apply to the BCEC expansion project. Sections 26 to 27F, inclusive, and section 29 of chapter 149 of the General Laws shall apply to the contract between the Authority and the construction manager and all trade contracts awarded pursuant to this section, and in undertaking the BCEC expansion project: (i) all construction employees employed in the construction of the BCEC expansion project shall be paid not less than the wage rate established for such work pursuant to a project labor agreement with the appropriate labor organization or labor organizations, which includes a uniform grievance and arbitration procedure for the resolution of work-related disputes on job sites, mutually agreeable uniform work rules and schedules for the project and an obligation for any labor organization and its constituent members contracted to work on the BCEC expansion project not to strike with respect to work on such project; provided, that it shall not be a precondition to the award of a contract that a bidder have previously entered into a collective bargaining agreement with a labor organization, but only that the bidder be willing to execute and comply with said project labor agreement for the BCEC expansion project if it is awarded a contract; (ii) pursuant to the workforce diversity program established pursuant to subsection (a), the Authority shall establish employment goals that provide for the participation of Boston residents, minority persons and women as construction employees in accordance with the Boston Residents Construction Employment Standards established pursuant to the city of Boston code, ordinances, section 12-10; (iii) pursuant to the supplier diversity program established under subsection (a), the Authority shall adopt contractor participation goals that provide for the meaningful participation of minority business enterprises and women business enterprises as construction contractors; provided further, that said participation goals shall be equal to the combined participation goals for minority business enterprises, service-disabled veteran-owned small business enterprises and women business enterprises on public building projects as established by the division of capital asset management and maintenance pursuant to section 6 of chapter 7C of the General laws and in effect on January 1, 2013; and (iv) pursuant to the workforce training program established pursuant to subsection (a), the Authority shall develop and implement a program that provides training in construction-related trades to minority persons and women.
(d) Notwithstanding subsection (b), the Authority may, by majority vote of its members, elect to use other methods provided under any general or special law for procuring design or construction services for portions of the BCEC expansion project, including section 39M of chapter 30 of the General Laws, section 44A to 44M, inclusive, of chapter 149 of the General Laws or chapter 149A of the General Laws; provided, that subsections (a) and (c) shall apply to the BCEC expansion project regardless of the method utilized for procuring construction contracts. If the Authority elects to apply said chapter 149A to a portion of the BCEC expansion project, the Authority shall be deemed to be an exempt agency within the meaning of subsection (d) of section 4 of said chapter 149A; provided, however, that if the Authority elects to use procurement methods inconsistent with said section 39M of said chapter 30, said sections 44A to 44M, inclusive, of said chapter 149 or said chapter 149A, the Authority shall consult with the inspector general on such procurement methods and upon consultation the inspector general shall be provided at least 30 days to provide written comments before the Authority begins the procurement of services for the project pursuant to such alternative measures.
(e) In implementing the BCEC expansion project, the Authority shall prepare quarterly reports which shall include, but not be limited to: (i) the total dollars expended on the BCEC expansion project to date; (ii) the number and type of contracts entered into to date; (iii) the number of contracts entered into with minority business enterprises; (iv) the number of contracts entered into with service-disabled veteran-owned small business enterprises; (v) the number of contracts entered into with women business enterprises; (vi) the dollar value of contracts entered into with minority business enterprises; (vii) the dollar value of contracts entered into with service-disabled veteran-owned small enterprises; (viii) the dollar value of contracts entered into with women business enterprises; (ix) the total number of employees working on the project; (x) the total number of employees working on the project, broken down by race, ethnicity and gender; (xi) the total number of Boston residents working on the project; and (xii) the total number of hours worked on the project broken down by race, ethnicity and gender. Said reports shall be submitted to the secretary of administration and finance, the house and senate committees on ways and means, the clerks of the house and senate and the house and senate committees on bonding, capital expenditures and state assets. The Authority shall post each quarterly report on its website.
(f) The Authority shall establish a monitoring committee, to be known as the access and opportunity committee, which shall meet quarterly, in a forum open to the public, to review the Authority’s reports issued pursuant to subsection (e), monitor compliance with subsections (a) and (c) and make recommendations to the Authority regarding the successful implementation of the supplier diversity program and workforce diversity program established pursuant to subsection (a). The Authority, in establishing the access and opportunity committee, shall ensure representation from, but not limited to, a representative of the construction manager for the BCEC project, a representative of the owner’s project management team, representatives of the trade contractors performing work on the BCEC expansion project, a representative of the Massachusetts Minority Contractors Association, Inc., a representative of the Massachusetts Supplier Diversity Office, a representative of the Massachusetts Office of Access and Opportunities, a representative of the Veteran’s Business Council, the city councilor representing district 2 of the Boston city council or a designee, the state representative representing the fourth Suffolk district or a designee, the state senator representing the first Suffolk district or a designee, and representatives of local, community-based organizations.
SECTION 7. (a) In the design and construction of the BCEC expansion project, the Authority shall achieve a minimum certification of “LEED Silver – New Construction” from the United States Green Building Council or an equivalent certification from a similarly recognized organization issuing certification for compliance with environmental and sustainability guidelines for design and construction. In said design and construction, the Authority shall comply with the energy efficiency requirements of either: (i) the “Stretch Energy Code”, as defined in 780 CMR 115; (ii) or the Massachusetts energy code in effect at the time of the application for building permit, whichever is more stringent.
(b) In the building operations and maintenance of BCEC structures constructed pursuant to chapter 152 of the acts of 1997, the Authority shall use best efforts to achieve a minimum certification of “LEED Silver - Existing Buildings” from the United States Green Building Council or an equivalent certification from a similarly recognized organization issuing certification for compliance with environmental and sustainability guidelines for building operations and maintenance.
(c) The design and construction of the BCEC expansion project shall consider on-site renewable energy generation for the BCEC, including the installation and use of photovoltaic solar panels.
SECTION 8. (a) To meet the expenditures necessary to carry out section 2, the state treasurer, upon request of the governor, may issue and sell bonds of the commonwealth in an amount to be specified by the governor from time to time, but not exceeding, in the aggregate, the sum of $1,000,000,000; provided however, that the state treasurer may issue and sell additional bonds for up to 10 per cent of the bonded amount for the costs of issuance and to establish a debt service reserve fund, if in the opinion of the state treasurer such fund would increase the marketability of the bonds. All such bonds shall be special obligations of the commonwealth payable from the special receipts described in section 10 of chapter 152 of the acts of 1997 to the extent available and in any case payable solely from moneys credited to the Convention Center Fund or otherwise pledged to such payment as provided in said section 10 of said chapter 152 and this act. Notwithstanding section 60A of chapter 29 of the General Laws or any other general or special law to the contrary, such bonds shall not be general obligations of the commonwealth. Such bonds shall be issued for such maximum term of years, not exceeding 30 years, as the governor may recommend to the general court in accordance with section 3 of Article LXII of the Amendments to the Constitution, but all such bonds shall be payable not later than June 30, 2060.
(b) Bonds of the commonwealth may be issued under authority of this section in such manner and on such terms and conditions as the state treasurer, with the concurrence of the secretary of administration and finance, may determine in accordance with this subsection and, to the extent consistent with this act, general laws relative to the issuance of bonds of the commonwealth. Section 11 of chapter 152 of the acts of 1997, including without limitation the Capital Reserve Fund established pursuant to said section 11 of said chapter 152, shall apply to such bonds and the security therefor to the same extent as such provisions apply to bonds of the commonwealth outstanding under said section 11 of said chapter 152; provided, that if so determined by the state treasurer, with the concurrence of the secretary of administration and finance, bonds issued under authority of this act may be issued on a parity with or subordinate to such outstanding bonds, and, if subordinate, with or without the benefit of the capital reserve fund. Earnings on investment of the proceeds of such bonds and on the proceeds of notes issued pursuant to section 9 shall be deposited in the Convention Center Fund and applied to the purposes set forth in subsection (c) of section 10 of said chapter 152.
(c) As additional security for bonds of the commonwealth issued under authority of this section, the Convention Center Fund, and all amounts on deposit from time to time therein, are hereby pledged to the payment of such bonds and, if so determined by the state treasurer with the concurrence of the secretary of administration and finance, to the payment of bonds outstanding under section 11 of chapter 152 of the acts of 1997, subject to the application of such amounts as provided in subsection (c) of section 10 of said chapter 152 and the trust agreement for such bonds. In order to further increase the marketability of such bonds, the commonwealth, if so determined by the state treasurer with the concurrence of the secretary of administration and finance, may pledge all or any portion of the receipts from the excises imposed by section 3 of chapter 64G of the General Laws and section 22 of chapter 546 of the acts of 1969 upon the transfer of any room that are not otherwise deposited in the Convention Center Fund pursuant to said section 10 of said chapter 152 or any other applicable law as “additional pledged receipts” to further secure such bonds. Additional pledged receipts shall be included as “special receipts”, as defined in subsection (b) of said section 10 of said chapter 152, as amended, only to the extent and as provided in the trust agreement for such bonds, and shall be thereafter applied in each fiscal year, subject to the terms of the trust agreement pursuant to which such bonds are issued, first, for purposes of paying debt service on such bonds or to the maintenance of the Capital Reserve Fund for such bonds established pursuant to subsection (c) of said section 11 of said chapter 152 and second, as otherwise provided by law.
(d) Any bonds issued under this section and any notes of the commonwealth issued in anticipation thereof as hereinafter provided, shall be deemed to be investment securities under chapter 106 of the General Laws, shall be securities in which any public officer, fiduciary, insurance company, financial institution or investment company may properly invest funds and shall be securities which may be deposited with any public custodian for any purpose for which the deposit of bonds is authorized by law. Any such bonds and notes, their transfer and the income therefrom, including any profit made on the sale thereof, shall at all times be free from taxation within the commonwealth.
SECTION 9. The state treasurer may borrow, from time to time, on the credit of the commonwealth such sums of money as may be necessary to meet payments as authorized by section 2 in anticipation of the receipt of proceeds of special obligation bonds of the commonwealth issued under authority of section 8, and may issue and renew, from time to time, notes of the commonwealth therefor, bearing interest payable at such time and at such rate as shall be fixed by the state treasurer. Such notes shall be issued and may be renewed 1 or more times for a maximum term of years, not exceeding 5 years, as the governor may recommend to the general court in accordance with section 3 of Article LXII of the Amendments to the Constitution; provided, however, that all such notes shall be payable not later than June 30, 2020. All interest on account of the principal of such notes shall be payable from the Convention Center Fund. Notwithstanding any provision of this act to the contrary, notes and the interest thereon issued under the authority of this section, shall be general obligations of the commonwealth.
SECTION 10. Notwithstanding clause (v) of subsection (c) of section 10 of chapter 152 of the acts of 1997, inserted by section 51 of chapter 122 of the acts of 2006, amounts held in the Convention Center Fund that are determined by the state treasurer and the secretary of administration and finance to exceed the amount necessary to satisfy the sufficiency of such fund may be applied to defray the net cost of operations of the Authority, as defined in section 32 of chapter 190 of the acts of 1982, as amended, in an amount in fiscal year 2015 not exceeding $24,000,000, in fiscal year 2016 not exceeding $25,000,000, in fiscal year 2017 not exceeding $26,000,000 and an amount not exceeding $28,000,000 in fiscal year 2018 and in each fiscal year thereafter.
SECTION 11. This act shall be deemed to provide an exclusive, additional, alternative and complete method for anything authorized herein and shall be deemed and construed to be supplemental and additional to, and not in derogation of, powers conferred upon the Authority; provided, however, that if this act is inconsistent with any general or special law, administrative order or regulation or any limitation imposed by a corporate or municipal charter, this act shall control.
SECTION 12. If, at any time, additional pledged receipts, as defined in subsection (c) of section 8, are applied to pay debt service on bonds issued under section 8 or, if applicable, bonds outstanding under section 11 of chapter 152 of the acts of 1997 or to the maintenance of the Capital Reserve Fund created under said chapter 152, the convention center’s excise shall be increased, in the city of Boston only, until the amount deposited into the Convention Center Fund from the increased excises shall be at least equal to the amount of additional pledged receipts so applied to pay debt service or to the maintenance of the Capital Reserve Fund, as so certified by the secretary of administration and finance; provided, however, that the total amount of the excise imposed pursuant to sections 3 and 3A of chapter 64G of the General Laws and section 22 of chapter 546 of the acts of 1969 shall not exceed 14 per cent. Amounts so received from the increased excises arising from the use of additional pledged receipts shall, subject to the terms of the trust agreement pursuant to which such bonds are issued and to the use of such moneys purposes set forth in sections 1 and 2, without further appropriation, be transferred, as of the end of each fiscal year, to the General Fund.
Approved, July 29, 2014.