summary
Introduced
03/29/2021
03/29/2021
In Committee
03/29/2021
03/29/2021
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
192nd General Court
Bill Summary
Relative to proceeds from the sale of municipal bonds. Municipalities and Regional Government.
AI Summary
This bill amends the existing law to specify how municipalities and regional governments can use the proceeds from the sale of municipal bonds. The bill states that any premium or accrued interest received from the sale of bonds, less the costs of preparing and issuing them, must be used to either pay for the project being financed by the bonds and reduce the amount authorized to be borrowed, or be appropriated to pay for other authorized borrowings. The bill also allows municipalities to apply up to $50,000 of such premium and accrued interest, with the approval of the chief executive officer, towards the payment of existing indebtedness.
Committee Categories
Government Affairs
Sponsors (6)
Brian Murray (D)*,
Carolyn Dykema (D),
Rich Haggerty (D),
Mike Moore (D),
Lindsay Sabadosa (D),
Adam Scanlon (D),
Last Action
Accompanied S1335 (on 12/16/2021)
Official Document
bill text
bill summary
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bill summary
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bill summary
Document Type | Source Location |
---|---|
State Bill Page | https://malegislature.gov/Bills/192/H2192 |
Bill | https://malegislature.gov/Bills/192/H2192.pdf |
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