Section 47A Assessments for metropolitan districts; borrowing in anticipation - Massachusetts Statutes

Section 47A. The state treasurer may borrow, in anticipation of assessments for any metropolitan district payable within one year, such sums of money as may be necessary for the payment of interest, sinking fund and serial or other bond requirements and maintenance charges of said districts and may issue notes therefor. Money so borrowed and notes so issued may be at such rates of interest as shall be found necessary. He shall repay any sums borrowed under this section as soon after said assessments are paid as is expedient, but in any event within one year after the same were borrowed. He may collect proportionately from the cities and towns of each such district all interest that may be paid upon money borrowed for that district under this section.