Bill > S240

This bill establishes a revolving fund of up to ten million dollars managed by the Massachusetts Development Finance Agency 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 bonds of the Commonwealth, also not exceeding ten million dollars, which will be designated as the "Waterfront Rehabilitation Capital Loan Act of 2011" and will be general obligations of the Commonwealth, with a maximum term of twenty years and a final maturity date of June 30, 2029.