AN ACT AUTHORIZING THE NORFOLK COUNTY TREASURER TO BORROW FUNDS FOR REPAIRS TO THE NORFOLK COUNTY AGRICULTURAL SCHOOL AND OTHER COUNTY BUILDINGS.
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. The Norfolk county commissioners may raise and expend a sum not exceeding $5,249,135 to fund the preparation of plans and specifications and construction and repairs and replacements, including the partial or full replacement of the roof, windows and doors and required consequential renovations and appurtenances and related equipment and furnishings of the facilities of the Norfolk county agricultural school, including the administration building located at 400 Main street in the town of Walpole as associated with the project scope and budget agreement approved by the Massachusetts School Building Authority on August 28, 2019. This sum shall be expended under the direction of the Norfolk county agricultural school board of trustees acting as the building committee. Any cost the Norfolk county agricultural school incurs in excess of a grant approved by and received from the Massachusetts School Building Authority shall be the sole responsibility of the Norfolk county agricultural school. The amount of this authorization shall be reduced by any grant amount set forth and received in the project scope and budget agreement.
SECTION 2. For the purposes authorized in section 1, the Norfolk county treasurer, with the approval of the Norfolk county commissioners and the Norfolk county advisory board, may borrow upon the credit of Norfolk county such sums as may be necessary, but not exceeding, in the aggregate, $5,249,135, and may issue bonds or notes of the county thereafter. The bonds or notes shall bear on their face the words “Norfolk County Agricultural School Loan Act of 2019”. Each authorized issue shall constitute a separate loan and each loan shall be payable not more than 30 years from the date of issuance. The bonds or notes shall be signed by the Norfolk county treasurer and countersigned by a majority of the Norfolk county commissioners. The Norfolk county may sell such securities at public or private sale, upon such terms and conditions as the county commissioners may deem proper, but not for less than par value. Any premium received upon the sale of any bonds or notes approved under this act, less any such premium applied to the payment of the costs of issuance of such bonds or notes, may be applied to the payment of approved costs in accordance with chapter 44, section 20 of the General Laws, thereby reducing the amount authorized to be borrowed to pay such costs by a like amount. Notwithstanding any general or special law to the contrary, the maturities of each issue of bonds or notes issued pursuant to this act shall be arranged so that, for each issue, the amount payable in the several years for principal and interest combined shall be as nearly equal as practicable in the opinion of the officers authorized to issue bonds or notes or, in the alternative, in accordance with a schedule providing for more rapid payment of principal. Indebtedness incurred hereunder shall, except as herein provided, be subject to chapter 35 of the General Laws.
SECTION 3. The Norfolk county commissioners may raise and expend a sum not exceeding $1,500,000 to fund the preparation of plans and specifications and the construction of various capital repairs and related improvements, including the replacement of roofs and other exterior repairs, the replacement of elevators and boilers and general interior refurbishments and requisite consequential renovations and appurtenances, together with related equipment and furnishings of county buildings situated in cities and towns within the county including, but not limited to, the city of Quincy, the town of Dedham and the town of Wrentham. The sum shall be expended under the direction of the Norfolk county commissioners.
SECTION 4. For the purposes authorized in section 3, the Norfolk county treasurer, with the approval of the Norfolk county commissioners and the Norfolk county advisory board, may borrow upon the credit of Norfolk county such sums as may be necessary, not exceeding, in the aggregate, $1,500,000 and may issue bonds or notes of the county thereafter, which shall bear on their face the words “Norfolk County Building Improvement Loan Act of 2019”. Each authorized issue shall constitute a separate loan and each loan shall be payable not more than 30 years from the date of issuance. The bonds or notes shall be signed by the Norfolk county treasurer and countersigned by a majority of the Norfolk county commissioners. The county may sell such securities at public or private sale, upon such terms and conditions as the county commissioners may deem proper, but not for less than par value. Any premium received upon the sale of any bonds or notes approved under this act, less any such premium applied to the payment of the costs of issuance of such bonds or notes, may be applied to the payment of approved costs in accordance with chapter 44, section 20 of the General Laws, thereby reducing the amount authorized to be borrowed to pay such costs by a like amount. Notwithstanding any general or special law to the contrary, the maturities of each issue of bonds or notes issued pursuant to this act shall be arranged so that, for each issue, the amount payable in the several years for principal and interest combined shall be as nearly equal as practicable in the opinion of the officers authorized to issue bonds or notes or, in the alternative, in accordance with a schedule providing for more rapid payment of principal. Indebtedness incurred hereunder shall, except as herein provided, be subject to chapter 35 of the General Laws.
SECTION 5. This act shall take effect upon its passage.
Approved, November 26, 2019.