Sec. 204. Duties
153 words·~1 min read·
/bill/114/s/3044/is/section-204·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Board may— hire and pay members of the Board and staff; organize the affairs in accordance with bylaws approved by the Board; discount any note or Bond from any public entity in the Commonwealth upon approval of a majority of the Board; make any expenditure the Board determines is necessary to address the humanitarian crisis in the Commonwealth and restore economic growth; authorize expenditures and lending activities, including discounting any note or offering a financial guarantee, by an affirmative vote of a majority of the members of the Board; negotiate with the Commonwealth or a municipality that has defaulted on a Bond over budgets, revenues, and appropriations; remove a stay under section 205(d); discount Bonds and notes from the Commonwealth or a municipality; may reduce the par value of any such Bond; and protect the public pensions in the Commonwealth as well as ordinary investors and pension funds in the United States.