Code of Massachusetts Regulations
950 CMR - OFFICE OF THE SECRETARY OF THE COMMONWEALTH
Title 950 CMR 60.00 - Voting Equipment Loan Fund
Section 60.04 - Overview

The Secretary of the Commonwealth shall provide, subject to appropriation, a loan to eligible municipalities to replace voting equipment, provided that such loans shall be repaid, together with a reasonable rate of interest, not later than ten years after the loan is made, and further, that said method of repayment shall be through a deduction on a recipient municipality's cherry sheet. Loan repayments shall begin in the second quarter of the fiscal year in which the loan is made, or if the loan is made in the third or fourth quarter of a fiscal year, the second quarter of the next fiscal year.