Massachusetts General Laws ch. 29 sec. 50 – Serial and sinking fund payments; certification
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Section 50. The state treasurer shall annually in December certify to the budget director the amount necessary to provide for serial and sinking fund payments with respect to any bonds or notes of the commonwealth for the fiscal year beginning on July 1 following.
Terms Used In Massachusetts General Laws ch. 29 sec. 50
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.