Ocm40693443-1960.Pdf
i Q k O C‘ IVTRODUCTIOIV In order to present a frame of reference in which to Under this trusteeship, the Massachusetts Port Authori place the Massachusetts Port Authority and its efforts to ty on February 17, 1959, sold a revenue bond issue of aid the commerce of the Commonwealth, we offer the $71,750,000 bearing interest at 4%%, and took over following background information: operation of the Port of Boston facilities, Logan Inter national Airport, Hanscom Field, and the Mystic River The taxpayers of the State provided approximately Bridge. $30 million after World War II for improved ship-truck- The Authority is moving toward objectives. It was railroad facilities on the Boston waterfront. Over a longer authorized and empowered in its enabling act “to in period, the taxpayers invested approximately $70 million vestigate the necessity for the development and improve in airplane-automobile-truck facilities at Logan Inter ment of commerce in the city and the metropolitan area national Airport. surrounding the city and for the more expeditious han Despite these huge investments and the efforts of State dling of such commerce, including but not limited to, managerial agencies, sizeable annual deficits had to be additional traffic facilities, bus and truck terminals, off- met from tax revenues. In accordance with the “equal and street parking facilities, and passengers at steamship, proportional” tax provision of the State Constitution, the railroad or motor terminals or airports, and to make such users and the non-users of the facilities were treated alike. studies, surveys and estimates as may be necessary to To relieve non-users of additional tax burdens, the determine the feasibility of any such facility .
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