Massachusetts General Laws|Chapter 44 - MUNICIPAL FINANCE

Section 1 - Definitions

Section 2 - Limitations and restrictions upon manner of incurring debt

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Section 4A - Repealed, 1990, 210, Sec. 2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Section 5 to 5B - Repealed, 1969, 849, Sec. 48; 1971, 766, Sec. 11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 incur debt for payment of land damages, altering grade crossings, and highway or traffic control expenditures

Section 6A - Power to borrow in anticipation of reimbursement by federal government or 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Section 12 - Repealed, 1946, 358, Sec. 16

Section 13, 13A - Repealed, 1971, 766, Sec. 11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 of bonds, notes and certificates of indebtedness; 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Section 16C - Repealed, 1984, 400, Sec. 3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Section 17A - Repealed, 1992, 143, Sec. 3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; time for making final payment

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 21B - Designation of tax credit bonds; sinking fund; sale of tax credit bonds; issuance of refunding bonds

Section 21C - Lease purchase financing agreements

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 - Repealed, 2016, 218, Sec. 70

Section 26 - Repealed, 2010, 188, Sec. 35

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 of appropriation for departments

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 of city budget 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 - Audits of accounts; when conducted; governmental units to be considered districts; copy to be sent to chief executive officer; costs

Section 36, 37 - Repealed, 2016, 218, Sec. 78

Section 38 - Uniformity of accounting classifications; standards; authority of director

Section 39 - Results of audit; report to municipality

Section 40 - Audit of accounts; frequency; reports

Section 41 - Failure to meet minimum standards and methods of accounting; 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 - Repealed, 2016, 218, Sec. 82

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 53E3/4 - Energy Revolving Loan Fund

Section 53F - Deposits of public funds in banking institutions in return for banking services

Section 53F1/2 - Enterprise funds

Section 53F3/4 - PEG Access and Cable Related Fund

Section 53G - Employment of outside consultants

Section 53G1/2 - Special account for deposits to secure the performance of an obligation by an applicant for a license or permit

Section 53H - Rebate to federal government to exclude interest paid on bonds from gross income

Section 53I - Settlement or incorporation celebrations; special fund

Section 53J - Reservation of revenues from betterments or special assessments to repay debt issued in connection to such improvements

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 or electronic funds transfers; 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

Section 73 - Requests for proposals for design and construction services in public-private partnership development agreement seeking assistance under chapter 29C; technical assistance from public-private partnership infrastructure oversight commission

Section 53E.5 - Revolving funds