Mass. Gen. Laws ch. 161, § 144: Preliminary agreements

Section 144. 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.