Massachusetts § 53J Reservation of revenues from betterments or special assessments to repay debt issued in connection to such improvements

Massachusetts Statutes

§ 53J — Reservation of revenues from betterments or special assessments to repay debt issued in connection to such improvements

Massachusetts § 53J

Part IADMINISTRATION OF THE GOVERNMENT

Title VIICITIES, TOWNS AND DISTRICTS

Ch. 44MUNICIPAL FINANCE

This text of Massachusetts § 53J (Reservation of revenues from betterments or special assessments to repay debt issued in connection to such improvements) 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, § 53J (2026).

Text

Section 53J. Notwithstanding sections 53 and 53F1/2, in any city, town or district that borrows money to pay for improvements for which betterments or special assessments are assessed, revenues from such betterments and assessments, including interest charged thereon, shall be reserved for appropriation for the payment of debt issued in connection with such improvements. Any such revenues received by the treasurer shall be kept separate from all other monies of such city, town or district. Interest earned on the revenues shall remain with and become part of such revenues available for appropriation. No appropriations from the revenues for payments of principal and interest on such debt issue for any fiscal year shall exceed the same percentage of the principal and interest payment due in s

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Section 53J. Notwithstanding sections 53 and 53F1/2, in any city, town or district that borrows money to pay for improvements for which betterments or special assessments are assessed, revenues from such betterments and assessments, including interest charged thereon, shall be reserved for appropriation for the payment of debt issued in connection with such improvements. Any such revenues received by the treasurer shall be kept separate from all other monies of such city, town or district. Interest earned on the revenues shall remain with and become part of such revenues available for appropriation. No appropriations from the revenues for payments of principal and interest on such debt issue for any fiscal year shall exceed the same percentage of the principal and interest payment due in such year as the percentage of project costs for which the betterments or special assessments are assessed. Any surplus remaining after such debt is repaid shall belong to any enterprise fund established under section 53F1/2 that the improvement for which the betterments or special assessments are assessed is part of, or, if no such enterprise fund is established, to the general fund of such city, town or district.