Incurring of Debt. Other than short-term borrowing for cash-flow purposes, the incurring of debt for purposes expressed in G.L. Chapter 71, section 16(d), will require at least a two-thirds (2/3) vote of all of the members of the Regional School Committee, without regard for the weight of the votes. If such a margin exists, the Committee must seek authorization for incurring debt by following the approach set out in G.L. Chapter 71, section 16, subsection (d). If one or more member communities vote disapproval of the debt, the Committee, by a majority of the weighted vote, may then seek authorization for the debt via Chapter 71, section 16, subsection (n). If and when subsection (n) is utilized, and if the incurring of debt is approved via subsection (n), the following option will be open to a member community if a majority of the registered voters voting on the question from that community voted to disapprove the incurring of debt in the subsection (n) election. Said community may seek to withdraw from the District consistent with the procedure in Section IX, and, if the notice of withdrawal is sent consistent with Section IX within sixty (60) days of the subsection (n) election, that community will not be responsible for a share of the debt service attributable to this new debt even if that community’s withdrawal from the District is not approved by a majority of the member communities as required by Section IX, or even if the withdrawal of said community is disapproved by the Commissioner. Communities whose resident voters disapprove the incurring of the debt in the subsection (n) election but which do not give a notice of withdrawal consistent with Section IX will remain members of the District and will share in the debt service for the new debt consistent with the apportionment process in this Section IV.
Incurring of Debt. Within seven (7) days after the date on which the Commission authorizes the incurring of debt, other than temporary debt in anticipation of revenue to be received from Member Towns, the Commission shall cause written notice of the date of said authorization, the sum authorized and the general purpose or purposes for authorizing such debt, to be given to the Chairman of the Sewer Commission and to the Board of Selectmen of each Member Town. The notice shall be deemed to have been duly given to a Board of Selectmen of a Member Town if delivered to said Board or, if mailed, by registered or certified mail within the time specified, postage prepaid and addressed to the Board at the Selectmen's office.
Incurring of Debt. The Committee may vote to incur debt consistent with the terms and conditions of MGL, Chapter 71, Section 16, as amended. At the time of taking action to incur debt, and except for the incurring of temporary debt in anticipation of revenue, the Committee, by two-thirds (2/3) weighted vote, will choose either the process that appears in MGL, Chapter 71, Section 16 (d) or Section 16 (n), as amended. The default method to incur debt outlined in subsection (d) will be used in the event the choice of (d) or
Incurring of Debt. Not later than seven days after the date on which the Committee authorizes the incurring of debt, other than temporary debt in anticipation of revenue to be received from towns, written notice of the amount of the debt and of the purposes for which it was authorized shall be given to the Selectboard in each town. The default method for incurring debt shall be M.G.L. c. 71, s. 16(d), which shall require a majority vote. A two-thirds (2/3) vote of the Committee is required in order to change the method to the process laid out in M.G.L. c. 71, s. 16(n). The District will follow and comply with the procedures and approval process outlined in the chosen method.
Incurring of Debt. The District may borrow under M.G.L. c. 71, §16(d) and any other applicable general or special law now or hereafter in effect. Pursuant to M.G.L. c. 71, §16(d), not later than seven days after the date on which the Committee authorizes the incurring of debt, other than temporary debt in anticipation of revenue to be received from any source, written notice of the date of said authorization, the sum authorized, and the general purpose or purposes for authorizing such debt, shall be given to the Select Board for each member town. No debt may be incurred until authorized in accordance with M.G.L. c. 71,
Incurring of Debt. The District School Committee by a combined total of weighted votes equal to or exceeding 66.67% of the weighted vote of the entire Committee (i.e., not merely two thirds of the weighted vote of those present) may vote to incur debt consistent with the terms and conditions of MGL Chapter 71, Section 16. At the time of taking action to incur debt, and except for the incurring of temporary debt in anticipation of revenue, the District School Committee by majority vote will choose either the process that appears in subsection (d) of Chapter 71, Section 16, or the process that appears in subsection (n) of Chapter 71, Section 16.
Incurring of Debt. The District has the authority to incur debt or, in the alternative, the Board may vote to authorize a member town to incur debt on behalf of the District based on factors including the individual member town bond ratings at the time the authorization to incur debt is sought. The amount of debt, including any costs associated with the incurring of debt by, or on behalf of, the District, shall be assessed to the member towns in accordance with the procedures detailed in Section III herein. Within seven days after the date on which the Board authorizes the incurring of debt, either by the District or an individual member town, other than temporary debt in anticipation of revenue to be received from member towns, the said Board shall cause written notice of the date of said authorization, the sum authorized and the general purpose or purposes for authorizing such debt, to be given to the Board of Selectmen/Town Council of each member town. The notice for which provision is herein made shall be deemed to have been duly given to a Board of Selectmen or Town Council of a member town if delivered to the Chairman of said Board or Town Council or, if mailed, by registered or certified mail within the time specified, postage prepaid and addressed to the Chairman of said Board or Town Council at such Board’s or Town Council’s office. If the Board authorizes a member town to incur debt on behalf of the District, and the authorized amount is two million dollars ($2,000,000.00) or less, the borrowing member town shall proceed with the borrowing without requiring any further authorizations from the non-borrowing member towns. If the Board authorizes the District or a member town to incur debt in an amount greater than two million dollars ($2,000,000.00), each member town shall hold a Town Meeting (or Special Town Meeting) or Town Council meeting within ninety (90) days after the date which the Board authorized the incurring of said debt for the purpose of expressing approval or disapproval of the amount of said debt. This time period may be extended by a majority vote of the Board. If at such Town Meeting (or Special Town Meeting) or Town Council meeting a majority of the voters (or, in the case of a Town Council, members of such Town Council) present and voting thereon express disapproval of the amount authorized by the Board said debt shall not be incurred and the Board shall thereupon prepare another proposal which may be the same as any prior proposal and an authoriz...
Incurring of Debt. The Committee may vote to incur debt consistent with the terms and conditions of M.G.L. c. 71, Section 16. At the time of taking action to incur debt, and except for the incurring of debt in anticipation of revenue, the default method for the Committee will be the process that appears in subsection (d) of M.G.L. c. 71, 16. The Committee may utilize the process that appears in subsection (n) of M.G.L. c. 71, Section 16 with a two thirds (2/3) vote of approval.
Incurring of Debt. The District School Committee may vote to incur debt consistent with the terms and conditions of G.L. chapter 71, section 16. At the time of taking action to incur debt, and except for the incurring of temporary debt in anticipation of revenue, the District School Committee by a majority vote will choose either the process that appears in subsection (d) of chapter 71, section 16, or the process that appears in subsection (n) of chapter 71,
Incurring of Debt. The Committee shall use the provisions stated in MGL, Xx. 00, Xxxxxxx 00 (x) when incurring debt. Written notice of the amount of the debt and of the general purposes for which it was authorized shall be given to the board of selectmen in each of the towns comprising the District not later than seven (7) days after the date on which the debt was authorized by the Committee; provided further, that no debt may be incurred until the expiration of sixty (60) days after the date on which the debt was authorized; and provided further, that before the expiration of this period any member town of the regional school district may hold a town meeting for the purpose of expressing disapproval of the amount of debt authorized by the Committee, and if at that meeting a majority of the voters present and voting express disapproval of the amount authorized by the district committee, the debt shall not be incurred and the Committee shall prepare another proposal which may be the same as any prior proposal and an authorization to incur debt therefor.
