Code of Massachusetts Regulations
975 CMR - EMERGENCY BOARD
Title 975 CMR 2.00 - Administrative Procedures
Section 2.05 - Requests for Approval of Emergency Loans

Universal Citation: 975 MA Code of Regs 975.2

Current through Register 1531, September 27, 2024

(1) All requests for Board approval of emergency loans shall be made in writing by vote of:

(a) the county commissioners as certified by the county clerk in the case of any county;

(b) the city councillors or town selectmen as certified by the city or town clerk in the case of any municipality;

(2) Each request shall set forth in detail on forms prescribed by the Board:

(a) the amount and term of the loan for which Board approval is requested;

(b) the justification for each portion of the loan, including, but not limited to a detailed description of the emergency nature of each portion of the loan;

(c) all documents supporting the need for the loan including, but not limited to, copies of requests from county or municipality agency heads, boards or commissioners or similar entities;

(d) written approval of the trustees of any county institution or any special board or commission in charge of any county reservation connected with the loan.

(3) No request for approval of an emergency loan shall be considered by the Board unless filed within 20 days of the time the county or municipality first knew or reasonably should have known that the loan would be required.

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