Section 374-C:1 – Citation.
374-C:1 Citation. – This chapter shall be known as, and may be cited as, the New Hampshire public utility bond financing chapter. Source. 1979, 498:2, eff. Sept. 4, 1979.
Section 374-C:10 – Exemption From Taxes, Levy and Sale.
374-C:10 Exemption From Taxes, Levy and Sale. – I. All property of the public utility division of the bank is hereby declared to be public property devoted to an essential public and governmental function and purpose and shall be exempt from all taxes and special assessments of the state or any subdivision thereof. All […]
Section 374-C:11 – Insurance or Guaranty.
374-C:11 Insurance or Guaranty. – The bank is authorized and empowered to obtain from any department or agency of the United States of America or from any nongovernmental insurer any insurance or guaranty (to the extent now or hereafter available) as to, or of, or for, the payment or repayment of, interest or principal, […]
Section 374-C:12 – Federal Funds; Withholding of Moneys.
374-C:12 Federal Funds; Withholding of Moneys. – I. The state treasurer is hereby authorized to receive from the United States of America or any department or agency thereof any amounts of money as and when appropriated, allocated, granted, turned over or in any way provided for the purposes of this chapter, and said amounts […]
Section 374-C:13 – Additional Powers.
374-C:13 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 and in RSA 35-A, shall have the following powers: I. To charge for its costs and services in review or consideration of any proposed […]
Section 374-C:14 – Limitations Not Applicable; Contracts of Public Utilities; Terms of Bonds.
374-C:14 Limitations Not Applicable; Contracts of Public Utilities; Terms of Bonds. – Notwithstanding the provisions of any law or statute applicable to or constituting any limitation on the maximum rate of interest per annum payable on bonds or notes, or as to annual interest cost to maturity of money borrowed or received upon issuance […]
Section 374-C:15 – Waiver of Defenses; Rights of Holders.
374-C:15 Waiver of Defenses; Rights of Holders. – Upon the sale and issuance of any utility bonds to the bank by any public utility, such public utility shall be held and be deemed to have agreed that, in the event of the failure of such public utility to pay the interest on or the […]
Section 374-C:16 – Cooperation by State Agencies.
374-C:16 Cooperation by State Agencies. – All officers, departments, boards, agencies, divisions and commissions of the state are hereby authorized and empowered to render any and all of such services to the bank as may be within the area of their respective governmental functions as fixed or established by law and as may be […]
Section 374-C:17 – Agreements With Financial Institutions.
374-C:17 Agreements With Financial Institutions. – The bank is hereby authorized and empowered to enter into such agreements or contracts with any banks, trust companies, banking or financial institutions, within or without the state, as may be necessary, desirable or convenient in the opinion of the bank for rendering services to the bank in […]
Section 374-C:18 – Effectuation of Purposes.
374-C:18 Effectuation of Purposes. – In order to effectively carry out its purpose under this chapter of making loans to public utilities by purchase of the utility bonds of such public utilities, and by receipt of its income from service charges and from payments of interest on and the maturing principal of utility bonds […]
Section 374-C:19 – Form of Investments.
374-C:19 Form of Investments. – All utility bonds or other investments of moneys of the bank permitted or provided for under this chapter shall at all times be purchased and held in fully marketable form (subject to provisions for any registration in the name of the bank). All utility bonds at any time purchased, […]
Section 374-C:2 – Definitions.
374-C:2 Definitions. – The following words or terms as used in this chapter shall have the following meanings unless a different meaning clearly appears from the context: I. "Chapter" means this New Hampshire public utility bond financing chapter. II. "Bank" means the New Hampshire municipal bond bank created and established by RSA 35-A:4. III. […]
Section 374-C:3 – Bond Bank’s Authority.
374-C:3 Bond Bank’s Authority. – I. The New Hampshire municipal bond bank established pursuant to RSA 35-A is hereby authorized and empowered to lend money to public utilities through the purchase by the bank of utility bonds of public utilities in fully marketable form. The bank, for the purposes authorized by this chapter, including […]
Section 374-C:4 – General Power.
374-C:4 General Power. – In addition to those powers enumerated in RSA 35-A:6, the bank shall have the authority to purchase or hold public utility bonds at such prices and in such manner as the bank shall deem advisable and to sell public utility bonds acquired or held by it at such prices without […]
Section 374-C:5 – Reserve Funds.
374-C:5 Reserve Funds. – I. The bank may create and establish one or more public utility reserve funds, hereafter referred to as "reserve funds", and shall pay into each such reserve fund any proceeds of sale of notes or bonds to the extent provided in the resolution or resolutions of the bank authorizing the […]
Section 374-C:6 – Public Utility General Fund.
374-C:6 Public Utility General Fund. – I. The bank shall establish and maintain a fund called the "public utility general fund" which shall consist of and in which there shall be deposited (1) fees received or charges made by the bank for use of its services or facilities under this chapter, (2) any moneys […]
Section 374-C:7 – Additional Accounts.
374-C:7 Additional Accounts. – The bank may establish such additional and further reserves or such other funds or accounts as may be, in its discretion, necessary, desirable or convenient to further the accomplishment of the purposes of the bank delineated under this chapter or to comply with the provisions of any agreement made by […]
Section 374-C:8 – Agreement by State.
374-C:8 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 utility bonds or […]
Section 374-C:9 – Legal Investments.
374-C:9 Legal Investments. – To the extent that other securities of a public utility are legal investments under state law, the state and all public officers, and agencies thereof, public utilities, all banks, trust companies, savings banks and institutions, building and loan associations, savings and loan associations, investment companies, and other persons carrying on […]