Section 7 Industrial development fund; deposits; requisition of funds - Massachusetts Statutes

Section 7. There is hereby created a special account in the treasury of the commonwealth to be known as the Industrial Development Fund to which shall be credited any appropriations made by the legislature to the authority, as well as such other deposits as provided in this section.

As often as may be necessary, the authority shall requisition from the Industrial Development Fund such amounts as may be necessary to provide adequate funds for the payment of the administration of the purpose of this act.

The authority shall also requisition from time to time, from the Industrial Development Fund, such amounts as shall be allocated by the authority for loans to industrial development agencies for industrial development projects.