Section 67. (a)(1) The department may issue and sell bonds or notes of the department for the purpose of providing funds to carry out sections 62 to 73, inclusive, with respect to the development, financing or operation of a transportation facility or the refunding of any bonds or notes, together with any costs associated with the transaction.
(2) Any bond or note issued under this section:
(A) constitutes the corporate obligation of the department;
(B) shall not constitute a debt of the commonwealth within the meaning or application of the constitution of the commonwealth; and
(C) shall be payable solely as to both principal and interest from:
(i) the revenues from a lease to the department, if any;
(ii) proceeds of bonds or notes, if any;
(iii) investment earnings on the proceeds of bonds or notes; or
(iv) other funds available to the department for such purpose.
(b)(1) For the purpose of financing a transportation facility, the department and operator may apply for, obtain, issue and use private activity bonds available under any Federal law or program.
(2) Any bonds, debt, other securities or other financing issued for the purposes of sections 62 to 73, inclusive, shall not be considered a debt of the commonwealth or any political subdivision thereof state or a pledge of the faith and credit of the state or any political subdivision of the commonwealth.
(c) Nothing in this section shall limit a local government or any authority of the commonwealth to issue bonds for transportation projects.
Structure Massachusetts General Laws
Part I - Administration of the Government
Title II - Executive and Administrative Officers of the Commonwealth
Chapter 6c - Massachusetts Department of Transportation
Section 2 - Creation; Board of Directors; Officers and Employees
Section 4 - Massachusetts Transportation Trust Fund
Section 6 - Office of Performance Management and Innovation; Duties
Section 6a - Office of Performance Management and Innovation; Goals
Section 7 - Employee Performance Evaluation Program
Section 8 - Money Received to Be Held as Trust Funds
Section 9 - Internal Special Audit Unit
Section 10 - Office of Transportation Planning
Section 11a - Project Selection Advisory Council
Section 12 - Integrated Asset Management System
Section 12a - Performance and Asset Management Advisory Council
Section 14 - Department as Public Agency for Purposes of State Contracts
Section 15 - Department as Public Agency for Purposes of State Finance Law
Section 16 - Annual Finance Plan
Section 19 - Eminent Domain Powers of Department
Section 20 - Sale of Real Property; Procedure; Sale of Buildings or Other Structures
Section 21 - Abandoned, Mislaid or Lost Property; Sale of Unclaimed Property
Section 22 - Enforcement by Superior Court Department
Section 23 - Termination of Department
Section 25 - Conduct of Secretary, Administrators and Directors
Section 26 - Application of Chapter 12a
Section 27 - Exemption From Taxes or Assessments
Section 28 - Annual Revenue and Expenditure Report
Section 29 - Office of Planning and Programming; Secretary
Section 31 - Administrative Units Within the Office of Planning and Programming
Section 32 - Federal Gifts, Loans or Grants-in-Aid for Improved Transportation Management Systems
Section 33 - Healthy Transportation Compact
Section 35 - Annual Report of Department's Activities
Section 36 - Definitions Applicable to Secs. 41 to 56
Section 37 - Division of Highways; Administrator
Section 38 - Duties of the Division of Highways
Section 40 - Procedure for Recommending Approval or Disapproval of Contracts
Section 41 - Engineering Internship Program
Section 42 - Co-Operative Engineer Program
Section 43 - Real Estate Appraisal Review Board
Section 50 - Regional Mobility Assistance Program
Section 51 - Definitions Applicable to Secs. 52 to 54
Section 52 - Mass Transit Division; Administrator
Section 53 - Duties of the Mass Transit Division
Section 54 - Administrative Units Within the Mass Transit Division; Statement of Organization
Section 55 - Definitions Applicable to Secs. 56 to 57
Section 56 - Registry of Motor Vehicles; Administrator
Section 57 - Administrative Units Within the Registry of Motor Vehicles; Statement of Organization
Section 57a - Motor Vehicle Insurance Merit Rating Board
Section 58 - Definitions Applicable to Secs. 59 to 61
Section 59 - Aeronautics Division; Administrator
Section 60 - Duties of the Aeronautics Division
Section 61 - Administrative Units Within the Aeronautics Division; Statement of Organization
Section 62 - Definitions Applicable to Secs. 62 to 73
Section 64 - Request for Proposals; Content of Public–private Agreement
Section 65 - End of Term or Termination of Public–private Agreement
Section 66 - Rights of Department Upon Material Default by an Operator
Section 67 - Issue and Sale of Bonds or Notes of the Department
Section 68 - Acceptance of Funds From the United States and Other Sources
Section 69 - Application of Sec. 26
Section 70 - Exercise of Power of Eminent Domain
Section 71 - Powers and Jurisdiction of Law Enforcement Officers
Section 72 - Waiver of Sovereign Immunity Not Limited
Section 73 - Public-Private Partnership Infrastructure Oversight Commission
Section 75 - Contracts With Fuel Providers to Provide for the Consumption of Alternative Fuel
Section 76 - Removal and Storage of Vehicle Left Unattended at State-Owned Park and Ride Facility