Section 19. Municipalities and school districts shall notify the authority no later than 14 days before refinancing any bond for which the municipality or district will receive state reimbursement under chapter 645 of the acts of 1948 or other law. The authority shall reimburse municipalities or districts at the actual interest rate obtained. The authority shall encourage municipalities and school districts to refinance any bond for which the municipality or district will receive state reimbursement where the refinancing would result in savings for the commonwealth or the municipality or school district and where the refinancing is otherwise in accordance with the law.
Structure Massachusetts General Laws
Part I - Administration of the Government
Chapter 70b - School Building Assistance Program
Section 1 - School Building Assistance Program; Establishment
Section 1a - School Building Authority
Section 3a - School Building Advisory Board; Establishment; Members
Section 3d - Accounts; Annual Report
Section 5 - School Facilities Grant Applications
Section 6 - Examination of Application by Board of Education; Notice of Approval or Rejection
Section 7 - Limit on Estimated Amount of Grants Approved by Authority
Section 10 - Facilities Grants for Approved Projects; Formula
Section 11 - Disbursement Schedule
Section 14 - Approved Alternative Projects; Allowable Costs
Section 16 - Maintenance Assessment Program for School Buildings
Section 17 - Annual Report; Anticipated Needs for School Facilities Projects
Section 19 - Notification of Actual Interest Rate for Bond Issuance