Section 15. Bonds and notes issued under this chapter, whether original or refunding, are hereby made securities in which all public officers and public bodies of the commonwealth and its political subdivisions, all insurance companies, trust companies, banking associations, savings banks, cooperative banks, investment companies, executors, trustees and other fiduciaries, and all other persons whatsoever who are now or may hereafter be authorized to invest in bonds or notes or other obligations of a similar nature may properly and legally invest funds, including capital, deposits or other funds in their control or belonging to them. Such bonds and notes are hereby made securities which may properly and legally be deposited with and received by any state or municipal officer or any agency or political subdivision of the commonwealth for any purpose for which the deposit of bonds or other obligations of the commonwealth now or may hereafter be authorized by law.
Structure Massachusetts General Laws
Part I - Administration of the Government
Chapter 161a - Massachusetts Bay Transportation Authority
Section 2 - Creation of Authority; Powers; Liability for Debts and Obligations; Service of Process
Section 3 - Additional Powers of Authority
Section 5 - Limitations, Conditions, Obligations and Duties of Authority
Section 5b - Disposal of Stolen, Lost or Abandoned Property
Section 6 - Ballot Question for Cities and Towns Regarding Issue of Joining Transportation Area
Section 7 - Board of Directors
Section 8 - Financial Assistance From Commonwealth
Section 9 - Financial Assistance From Cities and Towns
Section 10 - Financial Assistance From the Federal Government
Section 12 - Temporary Notes; Trust Agreements
Section 13 - Authorization for Authority to Issue Bonds; Purposes of Bonds
Section 14 - Bonds Secured by Trust Agreement Between Authority and Corporate Trustee
Section 15 - Bonds and Notes Issued by Authority; Securities
Section 16 - Rights of Holders of Bonds
Section 17 - Issuance of Interest Bearing or Discounted Notes; Bond Anticipation Notes
Section 18 - Insufficiency of Funds; Payments by Commonwealth
Section 19 - Stabilization Fund; Fare Stability Fund
Section 20 - Annual Itemized Budget; Supplementary Budget
Section 21 - Allocation of Annual Revenues in Excess of Expenses
Section 23 - Biennial Report by State Auditor
Section 24 - Exemption From Taxation
Section 25 - Directors; Authority to Bargain Collectively With Labor Organizations; Restrictions
Section 27 - Deceased Employees; Payment of Wages to Nominated Beneficiaries
Section 28 - Submission of Dispute Over Terms of Collective Bargaining Agreement to Arbitration
Section 29 - Mediation; Report; Selection of Arbitrator
Section 30 - Arbitrator; Requirements
Section 31 - Factors for Determining Arbitration Awards
Section 32 - Arbitration Awards; Written Opinions
Section 33 - Employee Deferred Compensation Program
Section 34 - Ira Plan; Employee Contributions
Section 37 - Proclamation of State of Emergency; Powers of Governor; Operation of Facilities
Section 38 - Liability; Board Supervision of Investigation, Settlement and Defense of All Claims
Section 40 - Electric Utility Services; Procurement
Section 41 - Electric Utility Business; Public Interest Factors
Section 42 - Notice of Violation of Public Smoking Law; Fine; Arrest
Section 43 - Liability Policy for Passenger Rail Services
Section 45 - Sale of Prepaid Monthly Transit Passes
Section 52 - Rights by Prescription or Adverse Possession in Lands Held in Name of the Authority