Section 162-G:2 – Declaration of Need and Purpose.
162-G:2 Declaration of Need and Purpose. – It is hereby declared that there is a need for the development and preservation of business and industry within the state in order to alleviate and prevent unemployment, to insure the continued growth and prosperity of the state, and of the cities and towns within the state […]
Section 162-G:3 – Definitions.
162-G:3 Definitions. – As used in this chapter, unless the context otherwise requires, the following words and terms shall have the following meanings: I. " Bond " shall mean an evidence of indebtedness issued by the governmental unit or a business and industrial development authority under this chapter to finance a project in whole […]
Section 162-G:4 – Powers of the Governmental Unit.
162-G:4 Powers of the Governmental Unit. – The governmental unit shall have the following powers in addition to any other powers conferred upon it. I. To engage in projects and to acquire, lease as lessee, own, and dispose of business and industrial facilities within or without the municipality, and to enter into option contracts […]
Section 162-G:4-a – Sales and Leases.
162-G:4-a Sales and Leases. – I. The sale or lease of any business and industrial facility or any part thereof shall be on such terms and conditions as is deemed appropriate by the legislative body or the business and industrial development authority to which the power to make such findings has been delegated, except […]
Section 162-G:5 – Leases.
162-G:5 Leases. – I. Every lease or sublease entered into by a municipality as lessor or sublessor shall: (a) Provide for the payment of rent by the tenant at such times and in such amounts as are necessary in order to pay the principal and interest of all bonds issued to finance the project […]
Section 162-G:6 – Trust Indentures.
162-G:6 Trust Indentures. – I. A trust indenture may contain a mortgage, pledge, or assignment of all or part of any interest or right which the governmental unit may have as the owner or lessor of a business and industrial facility. Any pledge or assignment of a right to receive money which is contained […]
Section 162-G:7 – Bonds.
162-G:7 Bonds. – I. Bonds authorized under this chapter may be issued: (a) In one or more series of one or more denominations and bearing one or more rates of interest; (b) In bearer form or registered form with or without privileges of conversion and reconversion from one form to the other; (c) Payable […]
Section 162-G:7-a – Authority Bonds.
162-G:7-a Authority Bonds. – I. A business and industrial development authority established under RSA 162-G:15-a may issue bonds to pay project costs or to reimburse a tenant for payments for project costs made before or after the bonds are issued or to refund bonds previously issued. II. Bonds shall bear the manual signature of […]
Section 162-G:8 – Approval of Governing Body or Business and Industrial Development Authority.
162-G:8 Approval of Governing Body or Business and Industrial Development Authority. – I. Except as provided in paragraph II, no municipality shall acquire any business and industrial facility, or execute any lease or trust indenture or issue any bonds with respect thereto, unless the governing body has found after a hearing that the proposed […]
Section 162-G:9 – Obligations of the Governmental Unit.
162-G:9 Obligations of the Governmental Unit. – No lease, trust indenture, bond, or other instrument shall in any way obligate the governmental unit to raise any money by taxation or use other public funds for any purpose in relation to a business and industrial facility, except to the extent permitted by this chapter. The […]