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Home » US Law » 2022 New Hampshire Revised Statutes » Title XII - Public Safety and Welfare » Title 162-I - Business Finance Authority Revenue Bonds

Section 162-I:1 – Declaration of Need and Purpose.

    162-I:1 Declaration of Need and Purpose. – I. It is hereby declared that there is a need for the development of industrial facilities, including pollution control facilities, commercial facilities in redevelopment project areas, water powered electric generating facilities and aircraft hangar facilities within the state in order to create or preserve employment opportunities, protect […]

Section 162-I:10 – Obligations of the State.

    162-I:10 Obligations of the State. – I. No financing or security document, bond or other instrument shall in any way obligate the state to raise any money by taxation or use other public funds for any purpose in relation to an eligible facility, and neither the state nor the authority shall pay or promise […]

Section 162-I:11 – Action by the Authority.

    162-I:11 Action by the Authority. – All actions by the authority under this chapter may be authorized by resolutions adopted by a majority of the members of the board in attendance at a meeting at which a quorum is present pursuant to RSA 162-A:20. Source. 1975, 98:1. 1997, 329:14, eff. Oct. 1, 1997.

Section 162-I:12 – Trustees and Trust Funds.

    162-I:12 Trustees and Trust Funds. – Any bank, trust company, or any other financial institution which has power to act as a trustee, whether within or outside the state may serve as trustee for the benefit of bondholders under a security document. Such trustee may at any time own all or any part of […]

Section 162-I:13 – Bonds Eligible for Investment.

    162-I:13 Bonds Eligible for Investment. – Bonds issued under this chapter shall be legal investments for all persons without limit as to the amount held, regardless of whether they are acting for their own account or in a fiduciary capacity. No person offering to buy or sell or buying or selling such bonds shall […]

Section 162-I:15 – Tax Exemption and Payment for Services in Lieu of Taxes.

    162-I:15 Tax Exemption and Payment for Services in Lieu of Taxes. – Any eligible facility while owned by the authority is declared to be public property and shall be exempt from all taxes and special assessments of the state or any political subdivision of the state. In lieu of such taxes and special assessments […]

Section 162-I:15-a – Assessment for Development in Unincorporated Places.

    162-I:15-a Assessment for Development in Unincorporated Places. – In an unincorporated place, the county commissioners, with the approval of the county delegation, may establish redevelopment districts to ensure that projects benefiting from the issuance of bonds guaranteed pursuant to RSA 162-I:9-a, I repay such bonds. The boundaries of the redevelopment district shall be configured […]

Section 162-I:16 – Construction and Effect of Other Laws.

    162-I:16 Construction and Effect of Other Laws. – I. The powers conferred by this chapter are supplemental and alternative to other powers conferred by law, and this chapter is intended as an independent and comprehensive conferral of powers to accomplish the purposes set forth in RSA 162-I:1. II. No notice, hearing, proceedings or approval […]

Section 162-I:2 – Definitions.

    162-I:2 Definitions. – In this chapter: I. "Aircraft hangar facility" shall be an eligible facility and means any privately owned structure used for housing or repairing aircraft. I-a. "Authority" means the business finance authority created under RSA 162-A:3. II. "Board" means the board of directors of the authority. III. "Bond" means an evidence of […]

Section 162-I:3 – Powers of the Authority.

    162-I:3 Powers of the Authority. – I. The authority shall have the following powers in addition to any other powers conferred upon it: (a) To engage in projects, to acquire and dispose of ownership or possessory interests in eligible facilities and related property within the state. (b) To issue bonds: (1) To pay project […]

Section 162-I:3-a – Railroad Lines.

    162-I:3-a Railroad Lines. – Bonds issued under this chapter relative to railroad lines may finance the upgrading, construction or repair of railroad lines in the state. Source. 1981, 455:3, eff. June 23, 1981.

Section 162-I:3-b – Intrastate Energy Pipeline Facility Revolving Loan Fund.

    162-I:3-b Intrastate Energy Pipeline Facility Revolving Loan Fund. – I. There is hereby established in the office of the state treasurer a fund to be known as the intrastate energy pipeline facility revolving loan fund which shall be kept separate and distinct from all other funds. Moneys in the fund shall be nonlapsing and […]

Section 162-I:4 – Limitation on Authority.

    162-I:4 Limitation on Authority. – Nothing in this chapter shall be construed to authorize the authority to operate an eligible facility itself or to conduct any business enterprise in connection with an eligible facility. Source. 1975, 98:1. 1981, 213:4; 455:4, eff. June 23, 1981.

Section 162-I:5 – Authority’s Ownership, Possessory or Security Interest.

    162-I:5 Authority’s Ownership, Possessory or Security Interest. – The authority’s interest in the facility under a financing document may be that of owner, lessor, lessee, conditional or installment vendor, mortgagor, secured party or otherwise, but the authority need not have any ownership, possessory or security interest in the facility. Source. 1975, 98:1. 1981, 213:5; […]

Section 162-I:6 – Financing Documents.

    162-I:6 Financing Documents. – I. Every financing document shall: (a) Provide for payments by the user at such times and in such amounts as are necessary in order to pay the debt service on all bonds issued to finance the project as they become due; and (b) Obligate the user to pay all the […]

Section 162-I:7 – Security Documents.

    162-I:7 Security Documents. – I. A security document may: (a) Contain an assignment, pledge, mortgage or other encumbrance of all or part of the authority’s interest in, or right to receive payments with respect to, an eligible facility under a financing document; (b) Bear any appropriate title; (c) Provide for a trustee for the […]

Section 162-I:8 – Bonds.

    162-I:8 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-I:9 – Approval of Governor and Council.

    162-I:9 Approval of Governor and Council. – I. The authority shall not acquire any interest in an eligible facility or execute any financing or security document or issue any bonds with respect to the facility, unless the governor and council have found after a hearing that the proposed financing, operation and use of the […]

Section 162-I:9-a – State Guarantee.

    162-I:9-a State Guarantee. – I. The governor and council may award an unconditional state guarantee of the principal of and interest on bonds issued under this chapter. Any guarantee awarded pursuant to this section shall be solely for the purpose of financing a redevelopment district, and only to the extent the bonds are to […]