Legislation Progress

This bill was passed on April 24, 2007.

To view the final version of this legislation, click here.

Legislation as Filed

Please note: Below you will find the legislation as filed by Governor Patrick. After being filed, bills are sent to the Massachusetts legislature where they may be amended or altered.

View the Signed Filing Letter and Legislation as a PDF pdf format of    2007_03_26_trans_bond_bill.pdf

Text of Filing Letter

March 26, 2007

To the Honorable Senate and House of Representatives:

I am filing today for your consideration a bill entitled "An Act Providing the Terms of Certain Bonds to Be Issued by the Commonwealth." This legislation specifies the maximum terms for certain bonds authorized in Chapter 27 of the Acts of 2007, An Act Providing for the Immediate Capital Improvement Needs of the Commonwealth.

Under Section 3 of Article LXII of the Amendments to the Constitution of the Commonwealth, I recommend that the bonds which the State Treasurer is authorized to issue under sections 6, 7, 8 and 12 of Chapter 27 of the Acts of 2007 shall be issued for terms not to exceed 30 years from the date of issuance thereof, and that all these bonds shall be payable not later than June 30, 2042.

I further recommend that the bonds described in section 10 of Chapter 27 of the Acts of 2007 shall be issued for terms not to exceed 30 years from the date of issuance thereof, and that the date by which these bonds are required to be paid shall be extended by 10 years.

I further recommend that the bonds described in section 11 of Chapter 27 of the Acts of 2007 shall be issued for terms not to exceed 30 years from the date of issuance thereof.

Thank you for your prompt consideration of this bill.











Respectfully submitted,
Deval Patrick

Full Text of Legislation

AN ACT PROVIDING THE TERMS OF CERTAIN BONDS TO BE ISSUED BY THE COMMONWEALTH.

Whereas, The deferred operation of this act would tend to defeat its purpose, which is to provide forthwith 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.

SECTION 1. Notwithstanding any general or special law to the contrary, the bonds which the state treasurer may issue under sections 6, 7, 8 and 12 of chapter 27 of the acts of 2007 shall be issued for a term not to exceed 30 years. All such bonds shall be payable not later than June 30, 2042, as recommended by the governor in a message to the general court dated March 26, 2007 under section 3 of Article LXII of the Amendments to the Constitution.

SECTION 2. Notwithstanding any general or special law to the contrary, any bonds described in section 10 of chapter 27 of the acts of 2007 shall be issued for a term not to exceed 30 years. The date by which the bonds described in this section are required to be paid shall be extended by 10 years, as recommended by the governor in a message to the general court dated March 26, 2007 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 which the state treasurer may issue under section 11 of chapter 27 of the acts of 2007 shall be issued for a term not to exceed 30 years, as recommended by the governor in a message to the general court dated March 26, 2007 under section 3 of Article LXII of the Amendments to the Constitution.