Bill > S239

This bill proposes to establish a revolving fund, managed by the Massachusetts Development Finance Agency, with up to ten million dollars to provide interest-free or low-interest loans for the rehabilitation of existing infrastructure in waterfront areas, aiming to stimulate industrial and commercial growth. To finance this initiative, the State Treasurer is authorized to issue and sell bonds of the Commonwealth, also not exceeding ten million dollars in total, which will be designated as "Waterfront Rehabilitation Capital Loan Act of 2015" bonds and will be general obligations of the Commonwealth, with a maximum term of twenty years and a final maturity date of June 30, 2035.