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Home » US Law » 2022 New Hampshire Revised Statutes » Title XXXIV - Public Utilities » Title 374-D - Municipal Small Scale Power Facility Bonds

Section 374-D:1 – Definitions.

    374-D:1 Definitions. – For the purposes of this chapter: I. "Bond" or "note" means a bond or note or other evidence of indebtedness issued under this chapter by a municipality, the payment of principal or interest of which is secured by the revenues derived from a small scale power facility, the full faith and […]

Section 374-D:10 – Tax Exemption.

    374-D:10 Tax Exemption. – The bonds and notes issued under this chapter, their transfer and the income from them, including any profit made on their sale, shall at all times be free from taxation within the state, excepting only inheritance, estate, and gift tax. Source. 1981, 545:6, eff. Aug. 29, 1981.

Section 374-D:11 – Revenue Refunding Bonds.

    374-D:11 Revenue Refunding Bonds. – Any municipality having bonds outstanding under this chapter, when authorized by a 2/3 vote as prescribed in RSA 33, may issue refunding bonds for the purpose of paying bonds issued by or on its behalf, at maturity or upon acceleration or redemption. The refunding bonds may be issued in […]

Section 374-D:13 – Severability.

    374-D:13 Severability. – If any provision of this chapter or the application of such provision to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of the chapter which can be given effect without the invalid provision or application, and to this end the provisions of this […]

Section 374-D:2 – Powers.

    374-D:2 Powers. – Municipalities may design, develop, acquire, and construct small scale power facilities at sites owned or leased by them or otherwise made available to them for a period at least equal to the term of any financing undertaken under this chapter. Municipalities may operate, or may enter into contracts for the operation […]

Section 374-D:3 – Authorization and Issuance of Bonds.

    374-D:3 Authorization and Issuance of Bonds. – I. Any municipality, when authorized by a 2/3 vote as prescribed in RSA 33, may borrow money through the issuance of bonds or notes to finance the design, development, and acquisition or construction costs, or its share of such costs, of a small scale power facility. Such […]

Section 374-D:4 – Notes.

    374-D:4 Notes. – In anticipation of the issuance of bonds under this chapter, a municipality may issue notes under RSA 33:7-a in the manner provided, except that such notes shall be payable within 8 years from their respective dates, and the principal of and interest on notes issued for a shorter period may be […]

Section 374-D:5 – Resolution or Trust Agreement Securing Bonds or Notes.

    374-D:5 Resolution or Trust Agreement Securing Bonds or Notes. – I. In the discretion of the governing board of the municipality, but subject to the terms of the authorizing vote, any bonds or notes issued under this chapter may be secured by a resolution of the governing board, which resolution shall constitute a contract […]

Section 374-D:6 – Investment of Proceeds.

    374-D:6 Investment of Proceeds. – Subject to any applicable trust agreement or resolution, the proceeds of bonds or notes issued under this chapter and any moneys governed by a trust agreement or resolution may be deposited or invested in demand deposits, time deposits, or savings deposits in banks which are members of the Federal […]

Section 374-D:7 – Bonds and Notes Payable Solely From Certain Funds.

    374-D:7 Bonds and Notes Payable Solely From Certain Funds. – If bonds and notes are issued under this chapter which are not secured by the full faith and credit and the taxing power of the municipality, such bonds or notes shall be payable solely from the funds provided for such bonds and notes under […]

Section 374-D:8 – Remedies.

    374-D:8 Remedies. – Any holder of bonds or notes issued under this chapter, and the trustee under a trust agreement or resolution securing such bonds or notes, except to the extent the rights given in this chapter may be restricted by such trust agreement or resolution, may bring suit upon the bonds or notes […]

Section 374-D:9 – Bonds and Notes Eligible for Investment.

    374-D:9 Bonds and Notes Eligible for Investment. – Bonds and notes issued under this chapter are securities in which all public officers and public bodies of the state and its political subdivisions, the New Hampshire municipal bond bank, all insurance companies, trust companies, banking associations, credit unions, building and loan associations, investment companies, executors, […]