Massachusetts Statutes
§ 15 — Bonds and notes issued; payment; liability of city or town limited; exclusion from municipal debt for borrowing purposes
Massachusetts § 15
JurisdictionMassachusetts
Part IADMINISTRATION OF THE GOVERNMENT
Title XXIICORPORATIONS
Ch. 164ANEW ENGLAND POWER POOL
This text of Massachusetts § 15 (Bonds and notes issued; payment; liability of city or town limited; exclusion from municipal debt for borrowing purposes) is published on Counsel Stack Legal Research, covering Massachusetts primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Mass. Gen. Laws ch. 164A, § 15 (2026).
Text
Section 15. The bonds and notes issued under this chapter shall be payable solely from the funds provided therefor under this chapter, the liability of the city or town from other funds being limited to obligations undertaken by it to pay for the electricity used by it, and a statement to this effect shall be included on the face of such bonds and notes. Subject to the provisions of clause (i) of paragraph (1) of subsection (b) of section nine, the bonds and notes and such obligations shall not at any time be included in the debt of the city or town for the purpose of ascertaining its borrowing capacity.
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Bluebook (online)
Massachusetts § 15, Counsel Stack Legal Research, https://law.counselstack.com/statute/ma/164A/15.