Bill Would Let Massachusetts Cities Sell Bonds for Expenses

Piazza, Johanna
May 2003
Bond Buyer;5/21/2003, Vol. 344 Issue 31640, p3
Trade Publication
To spur legislative discussion on solutions to the fiscal problems that will be faced by U.S. cities and towns in 2003, a legislative bill has been introduced in Massachusetts that would allow municipalities to issue tax-exempt bonds for operating expenses usually financed through state appropriations. The bill was sponsored earlier this month by U.S. Senate Majority Whip Joan M. Menard and sent to the legislature's joint committee on taxation. It would allow cities and towns to issue long-term debt for the purpose of any expenses incurred by the government, including operating expenditures.


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