2012 AUGUST-MASHPEE EDIC Plan for Executive Park

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1 i (g) invest any funds not required for immediate use or disbursement in certificates of deposit or in obligations of the government of the United States or in obligations of the payment of the principal of, and interest on, which is guaranteed by the government of the United States; (h) provide advisory services and technical assistance necessary or desirable to carry out the purposes of this act; (i)prepare or cause to be prepared plans, designs, drawings, specifications and estimates of cost for the construction,reconstruction, development,redevelopment, rehabilitation, remodeling, alteration or repair of economic development projects and from time to time modify such plans, designs, drawings, specifications and estimates; 0) finance pollution control facilities in the same manner provided by this act for economic development projects, in which event all provisions of this act which are applicable to economic development projects apply to the pollution control facilities, insofar as the provisions are apt, except as otherwise provided; (k) subject to the approval of town meeting, designate areas of the town as economic development areas, or economic opportunity areas as approved by the economic assistance coordinating council; (1) acquire and hold by bequest,devise, grant,gift,purchase, exchange, lease,judicial order or decree,or otherwise, for any of its objects and purposes, any property, either real or personal, or any interest therein; and without limiting the generality of the foregoing, acquire by purchase, on such terms and conditions and in such mamier as it may deem proper, or by the exercise of the power of eminent domain following a public hearing and an affirmative 2/3 vote at an annual town meeting or a special town meeting called for the purpose,with the advice of MOBD and the director in accordance with chapter 79 or chapter 80A of the General Laws insofar as these chapters may apply,private lands, or any interests therein,as it considers necessary for carrying out this actor for providing for the relocation of persons and businesses displaced as a result of carrying out economic development plans,programs and projects. Section 40 of said chapter 79 shall apply to any taking by the corporation, except that the security therein required shall be deposited with the town treasurer and shall be in an amount at least 25 per cent higher than the aggregate average assessed valuations in the 3 previous calendar years of all real estate to be taken by eminent domain.With the advice of MOBD and the director, the date as of which the value of such lands shall be determined for eminent domain purposes shall be the date on which said taking is approved by the town select board; (m)make relocation payments to persons and businesses displaced as a result of carrying out economic development plans,programs and projects,including such payments on a pro tanto basis; (n) procure insurance against any loss in connection with its property and other assets and operations in amounts and from insurers as it considers desirable;