Section 4. Within sixty days after the submission to it of an application under section two, the board shall authorize the issuance of qualified bonds, if it is satisfied that the issuance of qualified bonds is appropriate. The authorization shall be recorded in a resolution adopted by the board. If the board is not satisfied, it shall so indicate by the adoption within said sixty day period of a resolution stating its disapproval of the request. Failure to adopt an authorizing resolution within this sixty day period shall be a denial of the application.
Structure Massachusetts General Laws
Part I - Administration of the Government
Title VII - Cities, Towns and Districts
Chapter 44a - Qualified Bond Act
Section 2 - Application to Qualify Bonds; Investigation; Costs
Section 3 - Resolution of Board to Authorize Qualified Bonds; Release
Section 4 - Authorization to Issue Bonds; Time for Adoption of Resolution
Section 5 - Recital of Issuance Pursuant to This Act; Maturity Date
Section 7 - Certification to State Treasurer; Payment of Debt Service; Costs Assessed
Section 8 - Covenant by Commonwealth
Section 9 - Certification Conclusive as to Amount Payable; Estoppel
Section 10 - Obligation to Appropriate or Levy Taxes to Pay Bonds When Due; Rules and Regulations
Section 11 - Bonds for Construction, Etc. of Property
Section 11a - Covenants Contained in Proceedings Authorizing Issuance of Bonds