Section 6 Temporary notes - Massachusetts Statutes

Section 6. Any city, town or regional school district which has been authorized by the board to issue qualified bonds may issue temporary notes in anticipation of the issuance of the qualified bonds to the extent permitted by sections seventeen and seventeen A of chapter forty-four; provided, however, that such notes shall be subject to such additional terms or conditions as may be fixed or required by the board to ensure that funds are borrowed only as needed to meet required payments for construction, development, extension, improvement, or acquisition of the facilities or improvements to be financed by the issuance of the qualified bonds.