Massachusetts § 3 Computation of indebtedness

Massachusetts Statutes

§ 3 — Computation of indebtedness

Massachusetts § 3

Part IADMINISTRATION OF THE GOVERNMENT

Title VIICITIES, TOWNS AND DISTRICTS

Ch. 44MUNICIPAL FINANCE

This text of Massachusetts § 3 (Computation of indebtedness) 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. 44, § 3 (2026).

Text

Section 3. The indebtedness of a city or town for a specific purpose shall be its net indebtedness, which shall be the total indebtedness for that purpose after deducting the amount of sinking funds applicable to the same. The indebtedness to which the debt limit imposed by section ten shall be applied shall be the total net indebtedness of the city or town after excluding debts exempted from the operation of said section.

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Section 3. The indebtedness of a city or town for a specific purpose shall be its net indebtedness, which shall be the total indebtedness for that purpose after deducting the amount of sinking funds applicable to the same. The indebtedness to which the debt limit imposed by section ten shall be applied shall be the total net indebtedness of the city or town after excluding debts exempted from the operation of said section.