General Laws of Massachusetts (Last Updated: January 16, 2020) |
PART I ADMINISTRATION OF THE GOVERNMENT |
TITLE IX. TAXATION |
CHAPTER 59. ASSESSMENT OF LOCAL TAXES |
SECTION 24. Railroad subscriptions; interest on debts
Latest version.
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The assessors of a town owing debts incurred to obtain funds for subscriptions for the capital stock and securities of a railroad corporation shall annually assess, in addition to the other amounts required by law, an amount sufficient to pay the excess of such interest payable by such town over any income received from such stock or securities.