Mass. Gen. Laws ch. 44 – Municipal Finance | Midpage1Definitions2Limitations and restrictions upon manner of incurring debt3Computation of indebtedness4Temporary loans in anticipation of revenue; conditions; limitations6Power to incur debt for payment of land damages, altering grade crossings, and highway or traffic control expenditures6APower to borrow in anticipation of reimbursement by federal government or commonwealth7Cities and towns; purposes for borrowing money within debt limit8Cities and towns; purposes for borrowing money outside debt limit8AOrders authorizing issuance of bonds; authentication8BCities and towns; right to replace lost funds deposited; liquidation or insolvency of depository bank8CCities and towns; acquisition of land for conservation or recreation purposes in anticipation of state or federal reimbursement of expense; temporary debt outside limit authorized9Districts; right to borrow money; purposes; amount10Debt limit11Debt retirement; provision for earlier payment14Liability for lawful debts15Liability for legal debts contracted under special acts16Issuance of bonds, notes and certificates of indebtedness; procedure; form; contracts with banking or financial institutions16AFacsimile signature16BFacsimile seal; validity17Temporary loans; refund; repayment18Discount of notes19Issuance of notes payable on demand forbidden; procedure for repaying debts; time for making final payment19AInability to pay interest or principal of bonds, notes or certificates of indebtedness; notice; certification to state treasurer; payment by state treasurer20Proceeds from sale of bonds; restrictions on use; disposition of premiums20AAdvances made in anticipation of proceeds21Call and redemption prior to maturity21ARefunding bonds; issuance; present values21BDesignation of tax credit bonds; sinking fund; sale of tax credit bonds; issuance of refunding bonds21CLease purchase financing agreements22Rate of interest22AInsurance, letters or lines of credit for bonds or notes; trust agreements22BBonds and notes; official statements; advertising; collateral tax consequences to social security recipients22CSecurity for bonds or notes; insurance, letters or lines of credit, trust agreements23Forms for notes24Authentication; certification24ABearer instruments27Certification; evidence of liability27AEffect of provisions on power to issue notes28Report to director of accounts required28AApplicability of finance law to school districts28BApplicability of finance law to planning districts28CManagement of solid waste; project costs; debt obligations30Determination of amount of appropriation for departments31Liabilities in excess of appropriations forbidden; exceptions31AReport of estimated expenses; period covered; contents31CConstruction contracts; certificate as to availability of funds; effect of certificate upon defense of insufficiency of appropriations31DSnow and ice removal; emergency expenditures; reporting requirements32Submission of city budget to city council; procedure for approval, rejection or alteration33Power of council to add to appropriation; conditions; limitations33ASalary provisions in budget; requirements and limitations33BTransfer of appropriations; restrictions35Audits of accounts; when conducted; governmental units to be considered districts; copy to be sent to chief executive officer; costs38Uniformity of accounting classifications; standards; authority of director39Results of audit; report to municipality40Audit of accounts; frequency; reports41Failure to meet minimum standards and methods of accounting; expenses of auditing; payment42Audits by private accountants; required reports42APilot program for audits of public functions of city, town, county, etc. where irregularities or illegal acts are suspected; establishment43Accounting reports; returns; forms44Reports of municipal statistics; publication45Powers of director; attendance of witnesses; production of books and documents46APowers of director; investigation of municipal affairs47Right to establish or use48Sinking fund commissioners; powers and duties; records; compensation49Issuance of new bonds52Issuance of bonds in exchange for bearer instruments53City, town or district funds; use and disposition53AGrants and gifts; acceptance and expenditure53BContributions by commonwealth; application to indebtedness53CDeposit and expenditure of compensation for off-duty or special detail work; appropriation for special fund; fee53DRecreation and park self-supporting service revolving funds; creation; authorized use of funds; annual report; revocation of provisions53EAgencies, boards, etc.; annual operating costs; offset by estimated receipts of user fees53FDeposits of public funds in banking institutions in return for banking services53GEmployment of outside consultants53HRebate to federal government to exclude interest paid on bonds from gross income53ISettlement or incorporation celebrations; special fund53JReservation of revenues from betterments or special assessments to repay debt issued in connection to such improvements53KEstablishment of revenue account53A1/2Gifts of tangible personal property; acceptance53E1/2Revolving funds53E3/4Energy Revolving Loan Fund53F1/2Enterprise funds53F3/4PEG Access and Cable Related Fund53G1/2Special account for deposits to secure the performance of an obligation by an applicant for a license or permit54Investment of trust funds55Public funds on deposit; limitations; investments55ALiability of depositor for losses due to bankruptcy55BInvestment of public funds55CMunicipal Affordable Housing Trust Fund56Towns; fiscal year56ACities; fiscal year57Taxation; interest on debts incurred in aid of a railroad58Cities and towns; limitation on purchasing powers59Enforcement of chapter60Penalty for violation of law controlling handling of town and district notes61Penalty for refusal to issue bond in exchange for bearer instruments in sinking funds62Penalty for violation of provisions of chapter by officials63Sale or other disposal of realty; disposition of proceeds63ASales of public land; payment of taxes64Payment of bills incurred in excess of appropriations65Vacation pay; advances to employees66Advances to public employees67Deferred compensation program for employees; authorized investments; requisites; limitations67AEmployee individual retirement accounts68Retroactive salary increases69Municipal or district services, fees or charges; insufficient funds checks or electronic funds transfers; penalty70Payment for municipal programs, services, and activities; federal government reimbursements and other resources71Contracts for revenue raising activities; regulations and guidelines; negotiation72Federal funds for reimbursable medical expenses; distribution73Requests 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