This legislation was signed into law (in part) on August 8, 2008.
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
Text of Filing Letter
April 22, 2008
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 to Finance Improvements to the Commonwealth's Transportation System." This legislation specifies the maximum terms for certain bonds authorized in Chapter 86 of the Acts of 2008, An Act Financing Improvements to the Commonwealth's Transportation System.
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 24, 25, 26, 27 and 28 of Chapter 86 of the Acts of 2008 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, 2043.
I urge your prompt and favorable consideration of this bill.
Full Text of Legislation
PROVIDING THE TERMS OF CERTAIN BONDS TO BE ISSUED BY THE COMMONWEALTH TO FINANCE IMPROVEMENTS TO THE COMMONWEALTH'S TRANSPORTATION SYSTEM.
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.
Notwithstanding any general or special law to the contrary, the bonds which the state treasurer may issue under sections 24, 25, 26, 27 and 28 of chapter 86 of the acts of 2008 shall be issued for a term not to exceed 30 years. All such bonds shall be payable not later than June 30, 2043, as recommended by the governor in a message to the general court dated April 22, 2008 under section 3 of Article LXII of the Amendments to the Constitution.