STATE STATUTES & CODES

MASSACHUSETTS STATUTES AND CODES

CHAPTER 44 MUNICIPAL FINANCE

• Section 1 Definitions
• Section 2 Limitations and restrictions
• Section 3 Computation of indebtedness
• Section 4 Temporary loans in anticipation of revenue; conditions; limitations
• Section 4A Repealed, 1990, 210, Sec. 2
• Section 4B Expired. See 1976, 4, Sec. 33
• Section 5 to 5B Repealed, 1969, 849, Sec. 48; 1971, 766, Sec. 11
• Section 6 Power to borrow for payment of land or highway expenditures
• Section 6A Power to borrow in anticipation of reimbursement by commonwealth
• Section 7 Cities and towns; purposes for borrowing money within debt limit
• Section 8 Cities and towns; purposes for borrowing money outside debt limit
• Section 8A Orders authorizing issuance of bonds; authentication
• Section 8B Cities and towns; right to replace lost funds deposited; liquidation or insolvency of depository bank
• Section 8C Cities and towns; acquisition of land for conservation or recreation purposes in anticipation of state or federal reimbursement of expense; temporary debt outside limit authorized
• Section 9 Districts; right to borrow money; purposes; amount
• Section 10 Debt limit
• Section 11 Debt retirement; provision for earlier payment
• Section 12 Repealed, 1946, 358, Sec. 16
• Section 13, 13A Repealed, 1971, 766, Sec. 11
• Section 14 Liability for lawful debts
• Section 15 Liability for legal debts contracted under special acts
• Section 16 Issuance; procedure; form; contracts with banking or financial institutions
• Section 16A Facsimile signature
• Section 16B Facsimile seal; validity
• Section 16C Repealed, 1984, 400, Sec. 3
• Section 17 Temporary loans; refund; repayment
• Section 17A Repealed, 1992, 143, Sec. 3
• Section 18 Discount of notes
• Section 19 Issuance of notes payable on demand forbidden; procedure for repaying debts; consolidated municipal purpose loans; repayment schedule for approved school project loans
• Section 19A Inability to pay interest or principal of bonds, notes or certificates of indebtedness; notice; certification to state treasurer; payment by state treasurer
• Section 20 Proceeds from sale of bonds; restrictions on use; disposition of premiums
• Section 20A Advances made in anticipation of proceeds
• Section 21 Call and redemption prior to maturity
• Section 21A Refunding bonds; issuance; present values
• Section 22 Rate of interest
• Section 22A Insurance, letters or lines of credit for bonds or notes; trust agreements
• Section 22B Bonds and notes; official statements; advertising; collateral tax consequences to social security recipients
• Section 22C Security for bonds or notes; insurance, letters or lines of credit, trust agreements
• Section 23 Forms for notes
• Section 24 Authentication; certification
• Section 24A Bearer instruments
• Section 25 Payments; notice to director of accounts
• Section 26 Fees for certification
• Section 27 Certification; evidence of liability
• Section 27A Effect of provisions on power to issue notes
• Section 28 Report to director of accounts required
• Section 28A Applicability of finance law to school districts
• Section 28B Applicability of finance law to planning districts
• Section 28C Management of solid waste; project costs; debt obligations
• Section 29 Repealed, 1969, 849, Sec. 48; 1971, 766, Sec. 11
• Section 30 Determination of amount
• Section 31 Liabilities in excess of appropriations forbidden; exceptions
• Section 31A Report of estimated expenses; period covered; contents
• Section 31B Repealed, 1969, 505, Sec. 6
• Section 31C Construction contracts; certificate as to availability of funds; effect of certificate upon defense of insufficiency of appropriations
• Section 31D Snow and ice removal; emergency expenditures; reporting requirements
• Section 32 Submission to city council; procedure for approval, rejection or alteration
• Section 33 Power of council to add to appropriation; conditions; limitations
• Section 33A Salary provisions in budget; requirements and limitations
• Section 33B Transfer of appropriations; restrictions
• Section 34 Repealed, 1969, 849, Sec. 48; 1971, 766, Sec. 11
• Section 35 Towns and districts; right to petition for an audit or installation of accounting system
• Section 36 Cities; right to petition for an audit or installation of accounting system
• Section 37 Duties of director with respect to installation of accounting system
• Section 38 Uniformity of accounting systems
• Section 39 Results of audit; report to municipality
• Section 40 Audit of accounts; frequency
• Section 41 Expenses of auditing; payment
• Section 42 Audits by private accountants; required reports
• Section 42A Pilot program for audits of public functions of city, town, county, etc. where irregularities or illegal acts are suspected; establishment
• Section 43 Accounting reports; returns; forms
• Section 44 Reports of municipal statistics; publication
• Section 45 Powers of director; attendance of witnesses; production of books and documents
• Section 46 Destruction of records
• Section 46A Powers of director; investigation of municipal affairs
• Section 47 Right to establish or use
• Section 48 Sinking fund commissioners; powers and duties; records; compensation
• Section 49 Issuance of new bonds
• Section 50 Repealed, 1921, 486, Sec. 12
• Section 51 Repealed, 1938, 458
• Section 52 Issuance of bonds in exchange for bearer instruments
• Section 53 City, town or district funds; use and disposition
• Section 53A Grants and gifts; acceptance and expenditure
• Section 53A1/2 Gifts of tangible personal property; acceptance
• Section 53B Contributions by commonwealth; application to indebtedness
• Section 53C Deposit and expenditure of compensation for off-duty or special detail work; appropriation for special fund; fee
• Section 53D Recreation and park self-supporting service revolving funds; creation; authorized use of funds; annual report; revocation of provisions
• Section 53E Agencies, boards, etc.; annual operating costs; offset by estimated receipts of user fees
• Section 53E1/2 Revolving funds
• Section 53F Deposits of public funds in banking institutions in return for banking services
• Section 53F1/2 Enterprise funds
• Section 53G Employment of outside consultants
• Section 53H Rebate to federal government to exclude interest paid on bonds from gross income
• Section 53I Settlement or incorporation celebrations; special fund
• Section 54 Investment of trust funds
• Section 55 Public funds on deposit; limitations; investments
• Section 55A Liability of depositor for losses due to bankruptcy
• Section 55B Investment of public funds
• Section 55C Municipal Affordable Housing Trust Fund
• Section 56 Towns; fiscal year
• Section 56A Cities; fiscal year
• Section 57 Taxation; interest on debts incurred in aid of a railroad
• Section 58 Cities and towns; limitation on purchasing powers
• Section 59 Enforcement of chapter
• Section 60 Penalty for violation of law controlling handling of town and district notes
• Section 61 Penalty for refusal to issue bond in exchange for bearer instruments in sinking funds
• Section 62 Penalty for violation of provisions of chapter by officials
• Section 63 Sale or other disposal of realty; disposition of proceeds
• Section 63A Sales of public land; payment of taxes
• Section 64 Payment of bills incurred in excess of appropriations
• Section 65 Vacation pay; advances to employees
• Section 66 Advances to public employees
• Section 67 Deferred compensation program for employees; authorized investments; requisites; limitations
• Section 67A Employee individual retirement accounts
• Section 68 Retroactive salary increases
• Section 69 Municipal or district services, fees or charges; insufficient funds checks; penalty
• Section 70 Payment for municipal programs, services, and activities; federal government reimbursements and other resources
• Section 71 Contracts for revenue raising activities; regulations and guidelines; negotiation
• Section 72 Federal funds for reimbursable medical expenses; distribution

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