Session Laws

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:

Chapter 700 of the acts of 1913 is hereby amended by inserting after section 15B, inserted by section 8 of chapter 979 of the acts of 1971, the following section:-

Section 15C. In addition to the authority conferred by sections twelve to fifteen B, inclusive, the cities of Salem and Beverly may, from time to time, at the request of the board, issue bonds and notes, pursuant to the provisions of chapter forty-four of the General Laws, for the purposes of paying their respective shares of the costs of the construction of and capital improvements to water supply facilities, including but not limited to costs of construction, reconstruction, remodeling, extraordinary repairs and additions to storage, treatment and distribution facilities, land acquisition, equipment acquisition and related professional services and other capital expenses incurred by the board under the provisions of this act. Any bonds or notes issued hereunder shall be payable in not more than thirty years from their dates. The share of each city shall be determined under the provisions of section three. Said bonds or notes shall be exempt from taxation in the commonwealth. Debt authorized by either city under this section shall be included in the amount of debt that each city is subject to under the provisions of the last sentence of section eight of said chapter forty-four.