Section 16. The trust and its existence shall continue until terminated by law; provided, however, that no such law shall take effect so long as the trust shall have bonds outstanding unless adequate provision has been made for the payment or satisfaction thereof. Upon termination of the trust, the title to the fund and all other properties of the trust which remain after provision for the payment or satisfaction of all bonds of the trust shall vest in the commonwealth. The obligations, debts and liabilities of the trust shall be assumed by and imposed upon the commonwealth, and shall be transferred to the state treasurer or to such other successor as the general court may designate.
Structure Massachusetts General Laws
Part I - Administration of the Government
Title III - Laws Relating to State Officers
Chapter 29c - Massachusetts Clean Water Trust
Section 2 - Massachusetts Clean Water Trust; Board of Trustees; Members; Officers
Section 3 - Purpose of Trust; Powers and Duties of Board
Section 4 - Monies Held in Trust; Administration of Fund
Section 5 - Disbursement of Monies by Board of Trustees; Purposes
Section 7 - Clean Water Act; Powers and Duties of Board
Section 8 - Appropriations to Water Pollution Abatement Trust; Agreements
Section 9 - Bonds and Notes; Issuance
Section 10 - Loans to Local Governmental Units
Section 11 - Default on Loan; Remedies
Section 12 - Collection and Enforcement Powers of Local Governments
Section 13 - Local Governmental Obligations; Issuance; Interest; Payment; Taxation
Section 14 - Limited Obligations Payable From Local System Revenues
Section 15 - Security Agreements for Local Governmental Obligations
Section 16 - Termination of Trust
Section 19 - Cape Cod and Islands Water Protection Fund
Section 20 - Cape Cod and Islands Water Protection Fund Management Board; Annual Reports; Audit