Section 16. Bonds issued under the provisions of this chapter are hereby made securities in which all public officers and public bodies of the commonwealth and its political subdivisions, all insurance companies, trust companies in their commercial departments, savings banks, co-operative banks, banking associations, investment companies, executors, administrators, trustees and other fiduciaries may properly and legally invest funds, including capital in their control or belonging to them. Such bonds 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 obligations of the commonwealth is now or may hereafter be authorized by law.
Structure Massachusetts General Laws
Part I - Administration of the Government
Title VII - Cities, Towns and Districts
Chapter 40n - Model Water and Sewer Commission
Section 4 - Municipal Water and Sewer Commissions; Creation; Members
Section 5 - Executive Director; Officers
Section 7 - Employees; Transfer
Section 9 - Additional Powers and Limitations
Section 10 - Issuance of Notes; Collection and Enforcement Powers
Section 11 - Issuance of Bonds; Temporary Notes
Section 14 - Payment of Bonds From Bond Proceeds; Liability
Section 15 - Moneys Received Deemed to Be Trust Funds
Section 16 - Bonds Eligible for Investment
Section 17 - Bonds Deemed to Be Investment Securities
Section 18 - Bonds Issued Without Consent of Other Entities
Section 20 - Records; Reports; Inspection
Section 21 - Termination or Dissolution of Commission
Section 22 - Inconsistent Laws or Ordinances Inoperative
Section 23 - Provisions of Act Controlling
Section 24 - Construction of Act
Section 25 - Regional Water and Sewer District Commissions; Formation
Section 26 - Construction of Act; Constitutional Requirements