Massachusetts General Laws ch. 40B sec. 17 – Contracts; expenditures and obligations
Section 17. The commission is authorized to enter into contracts and agreements with any department, agency or subdivision of federal or state government and any individual, corporation, association or public authority to provide or to receive services, facilities, staff assistance or money payments in connection with the work of the commission, and the commission may contribute or receive services, facilities, staff assistance or money payments as consideration in such contracts or agreements. The commission shall approve all contracts which shall be signed by the chairman and treasurer.
Terms Used In Massachusetts General Laws ch. 40B sec. 17
- Contract: A legal written agreement that becomes binding when signed.
- 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.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
The commission may make expenditures and incur obligations for services and other expenses, subject to the following conditions and limitations: The commission may expend such amounts in addition to its annual assessment upon the cities and towns in the district as the commission may receive under any federal or state law, or by gift, grant, contract or agreement from any source, including grants, bequests, gifts or contributions made by any individual, corporation, association, public authority or department, agency or subdivision of the federal or state government.