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Municipal Finance
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Massachusetts General Laws
Administration of the Government
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Municipal Finance
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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Repealed, 1990, 210, Sec. 2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To 5b - Repealed, 1969, 849, Sec. 48; 1971, 766, Sec. 11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Repealed, 1946, 358, Sec. 16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13a - Repealed, 1971, 766, Sec. 11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Repealed, 1984, 400, Sec. 3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Repealed, 1992, 143, Sec. 3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
53e.5
Revolving Funds
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