Section 10. The authority is authorized and directed from time to time to take all necessary action to secure any federal assistance which is or may become available to the commonwealth or any of its political subdivisions, for any of the purposes of this chapter. If any federal law, administrative regulations or practice requires any […]
Section 11. The board shall establish and implement policies that provide for the maximization of nontransportation revenues from all sources. The board shall report to the general court 30 days prior to the board’s approval of the preliminary annual budget on efforts of the authority to maximize nontransportation revenues. The board shall establish and implement […]
Section 12. (a) The authority may issue temporary notes under this section (i) to fund temporary cash deficiencies, or (ii) in anticipation of future revenues. The authority shall consult with the state finance and governance board established under section 97 of chapter 6 prior to the sale of any such notes as to the timing […]
Section 13. (a) The authority is hereby authorized to provide by resolution at one time or from time to time for the issue of bonds of the authority for any one or more of the following purposes: (1) To acquire, plan, design, construct, reconstruct, alter, recondition and improve mass transportation facilities and equipment for express […]
Section 14. In the discretion of the authority such bonds or refunding bonds shall be secured by a trust agreement by and between the authority and a corporate trustee, which may be any trust company or bank having the powers of a trust company within or without the commonwealth. Either the resolution providing for the […]
Section 15. Bonds and notes issued under this chapter, whether original or refunding, are hereby made securities in which all public officers and public bodies of the commonwealth and its political subdivisions, all insurance companies, trust companies, banking associations, savings banks, cooperative banks, investment companies, executors, trustees and other fiduciaries, and all other persons whatsoever […]
Section 16. Any holder of bonds or refunding bonds issued under the provisions of this chapter or of any of the coupons appertaining thereto, and the trustee under the trust agreement, if any, except to the extent the rights herein given may be restricted by such resolution or trust agreement, may, either at law or […]
Section 17. The authority is authorized to provide by resolution at one time or from time to time for the issue of interest bearing or discounted notes for the purposes and in the amounts that bonds may be issued. The notes shall be payable within three years from their dates, but the principal of and […]
Section 18. To the extent that funds paid to the authority pursuant to section 35T of chapter 10 are insufficient in any year to meet the debt service or other payment obligations of the authority in connection with debt or other financing obligations of the authority, including, without limitation, leases, reimbursement obligations or interest exchange […]
Section 19. The authority shall establish a Stabilization Fund into which it shall deposit revenues in excess of expenses pursuant to section 21 until the fund balance is equal to or greater than 5 per cent of total revenues of the fiscal year most recently ended. The authority may draw funds from the Stabilization Fund […]
Section 2. The area constituting the authority and the inhabitants thereof are hereby made a body politic and corporate, and a political subdivision of the commonwealth, under the name of Massachusetts Bay Transportation Authority. The authority shall have power to hold property, to sue and be sued in law and equity and to prosecute and […]
Section 20. The board shall approve a preliminary itemized budget for the subsequent fiscal year not later than May 15 prior to the beginning of that fiscal year. The authority shall submit to the advisory board a final itemized budget not later than June 15 prior to the beginning of the fiscal year. The secretary […]
Section 21. Annual revenues in excess of expenses shall be allocated in the following order: (a) to fully fund all debt service reserves required under the trust agreements of any bonds of the authority then outstanding, and to fund in advance the debt service reserve requirements of any bond issuances planned for the upcoming fiscal […]
Section 22. (a) If the authority shall operate or contract for the operation of a mass transportation service or route which is not substantially similar to a service or route previously operated by the authority or the Massachusetts Bay Transportation Authority and which is in competition with a pre-existing mass transportation service or route provided […]
Section 23. The department of the state auditor shall biennially make an audit of the accounts of the authority and make a report thereon to the directors, the governor and the general court. In making said audits, said department of the state auditor may call upon any of the departments, commissions, officers and agencies of […]
Section 24. Notwithstanding any general or special law to the contrary, the authority and all its real and personal property shall be exempt from taxation and from betterments and special assessments; and the authority shall not be required to pay any tax, excise or assessment to or for the commonwealth or any of its political […]
Section 25. The directors shall have authority to bargain collectively with labor organizations representing employees of the authority and to enter into agreements, with such organizations relative to wages, salaries, hours, working conditions, the assignment of work schedules and work locations on the basis of seniority, including: (a) hours of work each day and days […]
Section 26. Notwithstanding any provisions of law to the contrary, the provisions of section 5 of chapter 150A shall so far as apt apply to the authority and its employees, excepting directors, executives and those confidential employees representing the authority and dealing with employee organizations. Nothing in this section shall be construed as conferring upon […]
Section 27. Whenever any employee or former employee of the authority dies, and the authority owes his estate any sum or sums by reason of services rendered by him for wages vacation allowances, and neither a duly appointed executor or administrator nor a administrator has made written demand for payment upon the treasurer of the […]
Section 28. Notwithstanding the provisions of sections 25 and 26, the authority or any organizations representing employees of the authority shall not be permitted to submit any dispute over the terms of a collective bargaining agreement to arbitration except in accordance with sections 28 through 32, inclusive; provided, however, that this section shall not limit […]
