Section 35-A:25 – Conflicts in Statutes.
35-A:25 Conflicts in Statutes. – It is the intent of the legislature that in the event of any conflict or inconsistency in the provisions of this chapter and any other chapters pertaining to matters herein established or provided for or in any rules and regulations adopted under this chapter or said other chapters, to […]
Section 35-A:26 – Report; Audits.
35-A:26 Report; Audits. – The bank shall, promptly following the close of each fiscal year, submit an annual report of its activities for the preceding year to the governor and council. Each such report shall set forth a complete operating and financial statement of the bank during such year. The bank shall cause an […]
Section 35-A:27 – Additional Powers.
35-A:27 Additional Powers. – In order to carry out the purposes and provisions of this chapter, the bank, in addition to any powers granted to it elsewhere in this chapter, shall have the following powers: I. In connection with any loan to a governmental unit, to consider the need, desirability or eligibility of such […]
Section 35-A:18 – Agreement by State.
35-A:18 Agreement by State. – The state does pledge to and agree with the holders of the bonds or notes issued pursuant to authority contained in this chapter that the state will not limit or restrict the rights hereby vested in the bank to purchase, acquire, hold, sell or dispose of municipal bonds or […]
Section 35-A:19 – Legal Investments.
35-A:19 Legal Investments. – Notwithstanding any restriction contained in any other law, the state and all public officers, governmental units and agencies thereof, all banks, trust companies, savings banks and institutions, building and loan associations, savings and loan associations, investment companies, and other persons carrying on a banking business, all insurance companies, insurance associations […]
Section 35-A:8 – Bonds and Notes of the Bank.
35-A:8 Bonds and Notes of the Bank. – I. The bank shall have the power and is hereby authorized from time to time to issue its bonds or notes in such principal amounts as it shall deem necessary to provide funds for any purposes authorized by this chapter, including the making of loans, the […]
Section 35-A:9 – Terms of Agreement with Holders of Securities.
35-A:9 Terms of Agreement with Holders of Securities. – In any resolution of the bank authorizing or relating to the issuance of any bonds or notes, the bank, in order to secure the payment of such bonds or notes and in addition to its other powers, shall have power by provisions therein which shall […]
Section 35-A:10 – Effect of Pledge.
35-A:10 Effect of Pledge. – Any pledge of revenues or other moneys made by the bank shall be valid and binding from the time when the pledge is made; the revenues or other moneys so pledged and thereafter received by the bank shall immediately be subject to the lien of such pledge without any […]
Section 35-A:11 – Reserve Fund.
35-A:11 Reserve Fund. – I. The bank may create and establish one or more special funds, hereafter referred to as "bond reserve funds", and shall pay into each such bond reserve fund any monies appropriated and made available by the state for the purpose of such fund; any proceeds of sale of notes or […]
Section 35-A:12 – Requests for Appropriations.
35-A:12 Requests for Appropriations. – I. To assure the continued operation and solvency of the bank for the carrying out of its corporate purposes, the chairperson of the bank shall, not later than 10 days following the failure of a governmental unit to make a scheduled payment of principal of or interest on a […]