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Bill > H2192


MA H2192

Relative to proceeds from the sale of bonds


summary

Introduced
03/29/2021
In Committee
03/29/2021
Crossed Over
Passed
Dead
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)

Last Action

Accompanied S1335 (on 12/16/2021)

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