SENATE, No. 2470
By Ms. Chandler, a petition (accompanied by bill,
Senate, No. 2470) of Harriette L. Chandler, Daniel E.
Bosley, Edward M. Augustus, Jr., Stanley C. Rosenberg and
other members of the General Court for legislation to
provide for the full faith and credit of the Commonwealth
to certain evidences of indebtedness issued to regional
transit authorities. Bonding, Capital Expenditures and
State Assets.
Version with line numbers |
The Commonwealth
of Massachusetts
In the Year Two
Thousand and Seven.
AN ACT PROVIDING FOR THE FULL FAITH AND CREDIT OF THE COMMONWEALTH TO CERTAIN EVIDENCES OF INDEBTEDNESS ISSUED TO REGIONAL TRANSIT AUTHORITIES.
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. Section 6 of chapter 161B of the General Laws, as appearing in the 2006 Official Edition, is hereby amended by inserting after the word “provided”, in line 90, the following words:- and such bonds, notes and other evidences of indebtedness shall be general obligations of the commonwealth to which its full faith and credit is pledged for the payment of principal and interest when due and shall comply with sections 17 to 21, inclusive.