Industrial Development Financial Authority

The voters of the Town of Southborough at its duly called Annual Town Meeting of May 12, 1975, declare that an Industrial Development Financing Authority is needed in the Town of Southborough and that:

  1. Unemployment or the threat thereof exists in the municipality, or
  2. Security against future unemployment and lack of business opportunity is required in the Town and that unemployment or the threat thereof can be alleviated or the security against future unemployment and lack of business opportunity can be provided, by attracting new idustry to the Town or by substantially expanding industry existing in the Town through an industrial development project or projects financed under chapter 40d of the general laws of the Commonwealth.

The authority of the Industrial Development Financing Authority hereby created is limited to the financing of a project or projects by the issuance of revenue bonds which do not pledge the faith and credit of the Town of Southborough. 

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