AN ACT PROVIDING FOR THE TERMS OF CERTAIN BONDS FOR CAPITAL IMPROVEMENTS TO BE ISSUED BY THE COMMONWEALTH.
Whereas, The deferred operation of this act would tend to defeat its purpose, which is to provide forthwith the issuance of certain bonds for the immediate capital improvement 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 pursuant to section 16 of chapter 304 of the acts of 2008, as amended by sections 3 and 4 of chapter 151 of the acts of 2020, shall be issued for a term not to exceed 20 years. All such bonds shall be payable not later than June 30, 2033, as recommended by the governor in a message to the general court dated August 11, 2020 under section 3 of Article LXII of the Amendments to the Constitution.
SECTION 2. Notwithstanding any general or special law to the contrary, the bonds that the state treasurer may issue pursuant to subsection (a) of section 6 of chapter 257 of the acts of 2014, as amended by sections 5 and 6 of chapter 151 of the acts of 2020, shall be issued for a term not to exceed 20 years. All such bonds shall be payable not later than June 30, 2039, as recommended by the governor in a message to the general court dated August 11, 2020 under section 3 of Article LXII of the Amendments to the Constitution.
SECTION 3. Notwithstanding any general or special law to the contrary, the bonds that the state treasurer may issue pursuant to section 10 of chapter 151 of the acts of 2020 shall be issued for a term not to exceed 10 years. All such bonds shall be payable not later than June 30, 2035, as recommended by the governor in a message to the general court dated August 11, 2020 under section 3 of Article LXII of the Amendments to the Constitution.
SECTION 4. Notwithstanding any general or special law to the contrary, the bonds that the state treasurer may issue pursuant to section 11 of chapter 151 of the acts of 2020 shall be issued for a term not to exceed 10 years. All such bonds shall be payable not later than June 30, 2035, as recommended by the governor in a message to the general court dated August 11, 2020 under section 3 of Article LXII of the Amendments to the Constitution.
SECTION 5. Notwithstanding any general or special law to the contrary, the bonds that the state treasurer may issue pursuant to section 12 of chapter 151 of the acts of 2020 shall be issued for a term not to exceed 10 years. All such bonds shall be payable not later than June 30, 2035, as recommended by the governor in a message to the general court dated August 11, 2020 under section 3 of Article LXII of the Amendments to the Constitution.
SECTION 6. Notwithstanding any general or special law to the contrary, the bonds that the state treasurer may issue pursuant to section 13 of chapter 151 of the acts of 2020 shall be issued for a term not to exceed 30 years. All such bonds shall be payable not later than June 30, 2055, as recommended by the governor in a message to the general court dated August 11, 2020 under section 3 of Article LXII of the Amendments to the Constitution.
SECTION 7. Notwithstanding any general or special law to the contrary, the bonds that the state treasurer may issue pursuant to section 14 of chapter 151 of the acts of 2020 shall be issued for a term not to exceed 10 years. All such bonds shall be payable not later than June 30, 2035, as recommended by the governor in a message to the general court dated August 11, 2020 under section 3 of Article LXII of the Amendments to the Constitution.
SECTION 8. Notwithstanding any general or special law to the contrary, the bonds that the state treasurer may issue pursuant to section 15 of chapter 151 of the acts of 2020 shall be issued for a term not to exceed 7 years. All such bonds shall be payable not later than June 30, 2032, as recommended by the governor in a message to the general court dated August 11, 2020 under section 3 of Article LXII of the Amendments to the Constitution.
SECTION 9. Notwithstanding any general or special law to the contrary, the bonds that the state treasurer may issue pursuant to section 16 of chapter 151 of the acts of 2020 shall be issued for a term not to exceed 20 years. All such bonds shall be payable not later than June 30, 2045, as recommended by the governor in a message to the general court dated August 11, 2020 under section 3 of Article LXII of the Amendments to the Constitution.
SECTION 10. Notwithstanding any general or special law to the contrary, the bonds that the state treasurer may issue pursuant to section 17 of chapter 151 of the acts of 2020 shall be issued for a term not to exceed 20 years. All such bonds shall be payable not later than June 30, 2045, as recommended by the governor in a message to the general court dated August 11, 2020 under section 3 of Article LXII of the Amendments to the Constitution.
Approved, September 21, 2020.