A city, by vote of its city council, subject to the provisions of its charter, or a town by vote of its board of selectmen, may make preliminary agreements with one or more companies operating within its territory for the lease or purchase and operation of the properties of said company. For the purposes of this section, a company shall act by a majority of its board of directors.
Mass. Gen. Laws ch. 161, § 144
Preliminary agreements
Official source: Massachusetts Legislature. Reproduced from public-domain Massachusetts statutes; confirm against the official source for the current text. Not legal advice.