AN ACT REDUCING THE SEWER BETTERMENT INTEREST RATE ON REPAYMENTS IN THE TOWN OF EASTON.
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, for the purposes of apportioning the repayment of sewer betterment special assessments for the necessary expenses and liabilities incurred in the creation of a public sewer system, other than the expenses of maintenance and operation, the town of Easton may charge the exact interest being received on its capital sewer expenditures from the water pollution abatement trust to those parcels receiving a sewer betterment special assessment, including, but not limited to, any interest accruing under a deferral and recovery agreement as may be authorized pursuant to section 13B of chapter 80 of the General Laws. The town shall not be obligated to increase the interest rate 2 per cent above the borrowing rate or utilize the 5 per cent established by law in apportioning these payments over an extended term.
SECTION 2. The town of Easton, acting by and through its sewer commissioners, may adopt regulations to facilitate the administration of this act.
SECTION 3. This act shall take effect upon its passage.
Approved, February 20, 2014.