Section 6. The directors of an industrial development financing authority shall serve without compensation as such but each director shall be reimbursed for all necessary travel and other expenses incurred by him in the discharge of his official duties. The compensation of the executive director shall be subject to review and approval by the Massachusetts office of business development. Such compensation, if any, and expenses shall be allocated by the authority among its various projects, in such manner and amounts as it deems proper and shall constitute current expenses thereof.
Structure Massachusetts General Laws
Part I - Administration of the Government
Title VII - Cities, Towns and Districts
Chapter 40d - Industrial Development of Cities and Towns
Section 3 - Board of Directors of Authority; Appointment; Terms
Section 4 - Removal of Directors; Interested Directors
Section 6 - Compensation and Expenses of Directors
Section 7 - Powers of Municipalities
Section 8 - Financing Documents; Excess Payments
Section 9 - Borrowing Money and Issuance of Bonds; Trust Agreements
Section 10 - Requisites for Issuance and Status of Bonds
Section 11 - Proceeds of Bonds
Section 12 - Issuance of Bonds; Conditions
Section 13 - Deposit of Proceeds From Bonds
Section 16 - Bondholders Remedies
Section 17 - Revenue Refunding Bonds
Section 18 - Deposit of Funds; Reports and Financial Statements; Audits
Section 20 - Exemption From Taxation; Leased Property
Section 22 - Pollution Control Facilities; Financing; Findings; Financing Authority; Applicable Laws
Section 23 - Pollution Control, Cogeneration, and Small Power Production Facilities; Grants or Loans