Massachusetts General Laws ch. 44 sec. 57 – Taxation; interest on debts incurred in aid of a railroad
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Section 57. A city or town owing debts incurred in aid of a railroad corporation shall annually raise by taxation an amount sufficient, with the income, if any, derived from its stock or securities, to pay the interest on such debts.
Terms Used In Massachusetts General Laws ch. 44 sec. 57
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.