There is a newer version
of
this Section
2019 Massachusetts General Laws
Part I - Administration of the Government
Title XXII - Corporations
Chapter 164a - New England Power Pool
Section 15 - Bonds and Notes Issued; Payment; Liability of City or Town Limited; Exclusion From Municipal Debt for Borrowing Purposes
Universal Citation: MA Gen L ch 164a § 15 (2019)
Section 15. The bonds and notes issued under this chapter shall be payable solely from the funds provided therefor under this chapter, the liability of the city or town from other funds being limited to obligations undertaken by it to pay for the electricity used by it, and a statement to this effect shall be included on the face of such bonds and notes. Subject to the provisions of clause (i) of paragraph (1) of subsection (b) of section nine, the bonds and notes and such obligations shall not at any time be included in the debt of the city or town for the purpose of ascertaining its borrowing capacity.
Disclaimer: These codes may not be the most recent version. Massachusetts may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
