1977 TOWN RECORDS - Laserfiche WebLink

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Special Town Meeting (Art. 10 section1a contioned) 3 9 February 9, 1977 may maintain essential governmental services. Section 2. The Commissioner of Indian Affairs is hereby authorixed to unconditionally guarantee punctual payment of principal and interest on bonds or notes, including remporary notes issued in anticipation of a serial loan, of the Town of Mashpee, Massachusetts, to an aggregate principal amount not exceeding $2,500.00 in any one fiscal year. The full faith and credit of the United States is pledged to the pay- ment of all amounts which may be required to ve paid under any guarantee under this act." SUBMITTED BY THE BOARD OF SELECTMEN Action: Amended to read under Section 2 "The Secretary of the Treasury" instead of "The Commissioner of Indian Affairs". Moved.and seconded to accept amendment. It is a unanimous vote. Article 11. To see if the Town will vote to authorixe the Board of Selectmen to instruct our State Legislators to file the following legislation: "AN ACT AUTHORIZING THE COMMONWEALTH TO GUARANTEE CERTAIN BONDS AND NOTES ISSUED BY THE TOWN OF MASHPEE BE IT ENACTED BY THE SENATE AND HOUSE OF REPRESENTATIVES IN GENERAL COURT ASSEMBLED AND BY THE AUTUORITY OF THE SAME, AS FOLLOWS: Section 1. The Commonwealth, action by and through the Secretary of Administration and Finance, is hereby authorixed to guarantee bonds or notes, including temporary notes issued in anticipation of a serial loan, of the Town of Mashpee to an aggregate principal amount not exceeding two million five hundred thousabd dollars in any one fiscal year. The guarantee by the Commonwealth shall be executed.on each bond or note by said Secretdry and shall be in substantially the following form: "The Commonwealth of Massachusetts hereby unconditionally guarantees to the interest thereon as the aame shall become due and payable and hereby pledges its full faith and credit to the performance of this guarantee." The signature of said Secretary upon any such bond or noteemay be engraved, printed or stamped facsimile of his signature, provided that he has, by a writing bearing his written signature and filed in the Executive Office of Administration and Finance, authorized his facsimile signature to be placed thereon and any such facsimile signature shall have the same validity and effect as the Sec- retary's written signature. If any such Secretary in office at the time of execution of such guarantee shall cease to hold such office before<the delivery of any bonds or notes so guaranteed, his signature or facsimile signature shall nevertheless be valid and sufficient for all purposes as if he had remained in office until such delivery. The full faith and credit of the Commonwealth is hereby pledged to the performance of any guarantee authorixed by this act." SUBMITTED BY THE BOARD OF SELECTMEN Action: Amended to read: Sect on 1. The Commonwealth, acting by and through the Secretary of Administration and Finance, is hereby authorized to guarantee bonds or notes, including temporary notes issued in anticipation of a serial loan, of the Town of Mashpee to an aggregate principal amount not exceeding two million five hundred thousand dollars in' any one fiscal year. The guarantee by the Commonwealth shall be executed on each bond or Mote by said secretary and shall be in substantially the following form::: "The Commonwealth of Massachusetts hereby ' unconditionally guarantees to the holder of this bond (note) the punctual payment of the principal thereof and the interest thereon as the same shall become due and payable and hereby pledges its full faith and credit to the performance of this guarantes." :The signature of said Secretary upon any such bond or note may be engraved, printed or stamped facsimile of his signature, provided that he has, by a writing bearing his written signature and filed in the executive office of Administration and Finance, authorized his facsimile signature to be placed thereon and any such facsimile signature shall have the same calidity and effect as the Secretary's written signature. If any such Secretary in office at the time of execution of such guarantee shall cease to hold such office before the delivery of any bonds or notes so guaranteed, his signature or facsimile signature shall nevertheless be valid and sufficient for all purposes as if he had remained in office until such delivery.