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2012 AUGUST-MASHPEE EDIC Plan for Executive Park
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2012 AUGUST-MASHPEE EDIC Plan for Executive Park
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12/1/2016 10:59:39 PM
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Mashpee_Meeting Documents
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ECONOMIC DEV AND INDUSTRIAL COMMITTEE
Meeting Document Type
Minutes
Meeting Date
12/31/2012
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agreement in a sinking fund. That fund is hereby pledged to and charged with the <br /> payment of(1) the interest upon the bonds as the interest shall fall due, (2)the principal <br /> of the bonds as the same shall fall due, (3)the necessary charges of paying agents for <br /> paying principal and interest, and(4) the redemption price or the purchase price of bonds <br /> retired by call or purchase as therein provided. <br /> SECTION S. The corporation shall be liable in contract or in tort in the same manner as <br /> a private corporation. The directors, employees, officers and agents of the corporation <br /> shall not be liable as such on its contracts or for torts not committed or directly authorized <br /> by them. The property or funds of the corporation shall not be subject to attachment or to <br /> levy and sale on execution,but if the corporation refuses to pay a judgment entered <br /> against it in any court of competent jurisdiction,the superior court, sitting within and for <br /> the county in which the corporation is situated,may, by writ of mandamus, direct the <br /> treasurer of the agency to pay the judgment. The real estate of the corporation shall not be <br /> subject to liens under chapter 254 of the General Laws;but sections 28 and 29 of chapter <br /> 149 of the General Laws shall be applicable to any construction work by the corporation. <br /> SECTION 9.The real estate and tangible personal propeity of the corporation shall be <br /> deemed to be public property used for essential public and governmental purposes and <br /> shall be exempt from taxation and from bettennents and special assessments; but in lieu <br /> of such taxes,betterments and special assessments,the town may determine a sum to be <br /> paid to it annually in any year or period of years,the sum to be in any year not in excess <br /> of the amount that would be levied at the then current tax rate upon the average of the <br /> assessed value of such real estate, including buildings and other structures, for the 3 years <br /> preceding the year of acquisition thereof,the valuation for each year being reduced by all <br /> abatements thereon. <br /> The town may agree with the corporation upon the payments to be made, or the <br /> corporation may make and the town may accept the payments, the amount of which shall <br /> not in either case be subject to the foregoing limitation. <br /> Nothing in.this act shall be construed to prevent the taxation to the same extent and in the <br /> same manner as other real estate is taxed, of real estate acquired by the corporation for an <br /> economic development project and sold by it, or the taxation to the same extent and in the <br /> same manner as real estate of the commonwealth is taxed, of real estate so acquired by <br /> the corporation and leased by it; but real estate so acquired by the corporation and sold or <br /> leased to an urban redevelopment corporation or other entity operating under chanter <br /> 121A of the General Laws or to an insurance company or savings bank or group of <br /> savings banks operating under said chapter 121A, shall be taxed as provided in said <br /> chapter 121A and not otherwise. <br /> The corporation and the debentures, revenue bonds and revenue refunding bonds issued <br /> under the provisions of this act, their transfer and the income therefrom including any <br /> profit made on the sale thereof, shall at all times be free from taxation by the <br /> commonwealth or the town. <br />
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