Bill > H3855

This bill allows the town of Hull to issue bonds, which are essentially loans taken out by the town to fund projects, for a period of up to 30 years, overriding a general law that might otherwise limit this term. Specifically, it amends chapter 44, section 7, clause (33) of the General Laws, which governs how towns can borrow money. The town's board of selectmen, who are elected officials responsible for managing town affairs, will have the authority to set the exact term of these bonds, which can be 30 years or shorter. This change is intended to provide Hull with more flexibility in financing its needs.