reglab/statecodes huggingface dataset:
2023 New Hampshire Revised Statutes › Title III - Towns, Cities, Village Districts, and Unincorporated Places › Chapter 33 - Municipal Finance Act › Section 33:8-c - Alternate Procedure for Authorizing Town or Village District Bonds or Notes for Municipal Small Scale Power Facilities.

33:8-c Alternate Procedure for Authorizing Town or Village District Bonds or Notes for Municipal Small Scale Power Facilities. –
I. By a 2/3 vote, the governing board of a town or village district may call a special meeting for the purpose of authorizing the issuance of bonds or notes for the municipal financing of small scale power facilities, as such facilities are defined in RSA 374-D:1. A special meeting held under this section shall have the same authority as that of an annual town meeting. The issuance of such bonds or notes shall be authorized by a vote of 2/3 of all the voters present and voting at the special meeting.
II. The warrant for such special meeting shall be published in a newspaper of general circulation in the municipality at least once a week for 2 consecutive weeks after the posting of such warrant. The warrant for such special meeting shall be served or posted at least 14 days before the date of the meeting. Every warrant shall be deemed to have been duly served or posted, if the return on the warrant shall so state, and it shall be certified by the officer or officers required to serve or post the warrant.
III. There shall be at least one public hearing concerning any such proposed municipal bond issue held before the governing board of the municipality, before a special meeting held to vote on such issue. Said hearing shall be held at least 15 days, but not more than 60 days before the special meeting at which the bonds or notes to be issued are to be voted on. Notice of the time, place, and subject of such hearing shall be published in a newspaper of general circulation in the municipality at least 7 days before it is held. If a hearing is held under RSA 35:8-a or RSA 32, said hearing shall be sufficient for this purpose.
IV. All bonds or notes authorized in accordance with this section shall be signed by the governing board, or a majority of the board, and countersigned by the treasurer of the issuing municipality, and shall have the corporate seal, if any, affixed to such bonds or notes. The discretion of fixing the date, maturities, denominations, the interest rate, or discount rate in the case of notes, the place of payment, the form and other details of said bonds or notes and of providing for their sale, may be delegated to the governing board or to the treasurer and shall, to the extent provision for such delegation shall not have been made in the authorizing vote, be deemed to have been delegated to the governing board.
Source.
1981, 545:3, eff. Aug. 29, 1981.
2023 New Hampshire Revised Statutes › Title III - Towns, Cities, Village Districts, and Unincorporated Places › Chapter 33 - Municipal Finance Act › Section 33:8-e - Town Council Authority to Issue Bonds and Notes.

33:8-e Town Council Authority to Issue Bonds and Notes. –
Any town which has adopted a charter pursuant to RSA 49-B and which does not have a budgetary town meeting, may choose in its charter to allow the town council to follow the procedures set out in RSA 33:8-d or RSA 33:9 for the issuance of bonds and notes.
Source.
1994, 87:2, eff. July 5, 1994.
2023 New Hampshire Revised Statutes › Title III - Towns, Cities, Village Districts, and Unincorporated Places › Chapter 33 - Municipal Finance Act › Section 33:8-f - Procedures to Limit or Rescind Bonding Authority for Bonds or Notes.

33:8-f Procedures to Limit or Rescind Bonding Authority for Bonds or Notes. –
I. In any vote to approve bonding authority, a town may limit the length of time the bond authorization remains valid. If, after the expiration of any such period, no bond or note has been issued, the bonding authority shall be considered for all purposes as rescinded.
II. A town may vote at an annual meeting to rescind an authorized but unissued bond or note following the same procedures as would be required to adopt such bond or note, provided that:
(a) A vote to rescind shall not take place less than 5 years after the vote to authorize the bond or note;
(b) The vote to rescind must pass by the same majority required, at the time of the rescission vote, to adopt a bond or note; and
(c) Notwithstanding RSA 33:8-a, II, a warrant article proposing the rescission of a bond or note in excess of $100,000 need not be acted upon prior to other business.
Source.
2009, 229:3, eff. Jan. 1, 2010.
2023 New Hampshire Revised Statutes › Title III - Towns, Cities, Village Districts, and Unincorporated Places › Chapter 33 - Municipal Finance Act › Section 33:9 - City Bonds.

33:9 City Bonds. –
The issue of bonds or tax anticipation notes by a city shall be authorized by a resolution of the city councils, passed by at least 2/3 of all the members of each branch thereof. All such bonds and notes shall be signed by a mayor and countersigned by the city treasurer, and shall have the city seal affixed thereto. The discretion of fixing the date, maturities, denominations, place of payment, interest rate, or discount rate in the case of notes, the form and other details of said bonds or notes, and of providing for the sale thereof, may be delegated to the city treasurer and shall, to the extent provision therefor shall not have been made in the vote authorizing the same, be deemed to have been delegated to the treasurer with approval of the mayor.
Source.
1895, 43:4. PL 59:11. RL 72:11. 1953, 258:1, par. 9, eff. Jan. 1, 1954.
2023 New Hampshire Revised Statutes › Title III - Towns, Cities, Village Districts, and Unincorporated Places › Chapter 33 - Municipal Finance Act › Section 33:10 - County Bonds.

33:10 County Bonds. –
County bonds shall be authorized and issued as provided in RSA 25 and 28, provided that a public hearing is held which shall be advertised at least 7 days before said public hearing, in some daily newspaper having a wide circulation in the county, giving the time and place of the hearing; and provided that not more than 14 days after said public hearing the county convention shall approve such bond issue by at least 2/3 of the county convention present and voting and provided further that a majority of the whole convention shall be present.
Source.
PL 59:12. RL 72:12. 1953, 258:1, par. 10. RSA 33:10. 1957, 109:1, eff. July 7, 1957.
2023 New Hampshire Revised Statutes › Title III - Towns, Cities, Village Districts, and Unincorporated Places › Chapter 33 - Municipal Finance Act › Section 33:11 - Authentication of Bonds.

33:11 Authentication of Bonds. –
All bonds issued under authority of this chapter shall bear an authenticating certificate signed by an authorized officer of a bank or trust company doing business in the state of New Hampshire or in the commonwealth of Massachusetts, or by the commissioner of revenue administration, or by a notary public or justice of the peace. The authenticating certificate endorsed upon such bond shall identify such bond as being one of the particular issues described therein, shall certify the genuineness of the signatures and the seal, if any, thereto affixed and shall state the name of the attorney or attorneys who rendered an opinion approving the legality of such issue. A signed copy of such legal opinion shall be furnished to the commissioner of revenue administration within 10 days after the bonds are delivered to the purchaser thereof. The provisions of this section shall not apply to bonds or notes issued to secure a principal sum of $17,000 or less when the bonds or notes are payable over a period not exceeding 5 years from the date of issue.
Source.
1953, 258:1, par. 11. RSA 33:11. 1973, 544:11, II. 1994, 167:1, eff. Jan. 1, 1995.
2023 New Hampshire Revised Statutes › Title III - Towns, Cities, Village Districts, and Unincorporated Places › Chapter 33 - Municipal Finance Act › Section 33:11-a - Agreements Relating to Registered Bonds and Notes.

33:11-a Agreements Relating to Registered Bonds and Notes. –
In connection with the issuance by a municipality or county of original or replacement bonds or notes in registered form, the treasurer of the municipality or county, with the approval of the officer or officers authorized to sign such bonds or notes, is authorized to contract for and engage the services of any bank, trust company, banking institution or financial institution within or without the state to perform authentication, registration, transfer, exchange, record and paying agent functions, including, without limitation, the preparation, signing and issuance of checks in payment of such bonds or notes, the preparation and maintenance of records, reports and accounts and the performance of such related duties as may be necessary or desirable in connection with such bonds or notes. The treasurer, with such approval, may also enter into agreements with banks, trust companies, banking institutions and financial institutions to act as custodian or financial intermediary in connection with the establishment and maintenance by others of a central depository system for the transfer of interests in such bonds or notes. Any agreement entered into under this section shall include provisions for indemnifying the municipality or county for losses sustained by it on account of the negligence of a designated bank, trust company, banking institution or financial institution or on account of the failure of such designated bank, trust company, banking institution or financial institution to perform faithfully its duties and obligations under the agreement. Such agreement may include additional provisions necessary or desirable to protect the municipality or county and may provide for the limitation of liabilities of the parties, indemnification or payment of liquidated damages.
Source.
1983, 365:1, eff. June 19, 1983.
2023 New Hampshire Revised Statutes › Title III - Towns, Cities, Village Districts, and Unincorporated Places › Chapter 33 - Municipal Finance Act › Section 33:12 - Register.

33:12 Register. –
The treasurer of every municipal corporation shall keep a register, in such form as may be prescribed by the commissioner of revenue administration, which shall state the denomination, number and date of every bond or note issued by the municipality, the time when and the place where the principal thereof and interest, if any, thereon are payable and such other information as the commissioner of revenue administration may prescribe. The commissioner of revenue administration shall inspect the register provided for herein whenever it shall make any audit of the accounts of a municipal corporation.
Source.
1895, 43:6. PL 59:19. RL 72:19. 1953, 258:1, par. 12. RSA 33:12. 1973, 544:8, eff. Sept. 1, 1973.
2023 New Hampshire Revised Statutes › Title III - Towns, Cities, Village Districts, and Unincorporated Places › Chapter 33 - Municipal Finance Act › Section 33:13 - Repealed by 1957, 95:2, eff. Jan. 1, 1958.

33:13 Repealed by 1957, 95:2, eff. Jan. 1, 1958. –
2023 New Hampshire Revised Statutes › Title III - Towns, Cities, Village Districts, and Unincorporated Places › Chapter 33 - Municipal Finance Act › Section 33:14 - Report of Borrowing.

33:14 Report of Borrowing. –
The treasurer of any municipal corporation, within 10 days after the delivery of an issue of bonds or notes authorized by this chapter to the purchaser thereof, shall submit to the commissioner of revenue administration a report setting forth the details of the issue in such form as the commissioner may prescribe. Failure to make said report, however, shall not affect the validity of any issue of bonds or notes.
Source.
1953, 258:1, par. 14. RSA 33:14. 1973, 544:8, eff. Sept. 1, 1973.
2023 New Hampshire Revised Statutes › Title III - Towns, Cities, Village Districts, and Unincorporated Places › Chapter 33 - Municipal Finance Act › Section 33:15 - Regularity Presumed.

33:15 Regularity Presumed. –
All bonds or notes purporting to be issued under authority of this chapter, and executed as hereinbefore provided, shall, in favor of bona fide holders, be conclusively presumed to have been duly and regularly authorized and issued in accordance with the provisions herein contained, and no such holder thereof shall be obliged to see the propriety of the purpose of the issue, to the regularity of any of the proceedings relating thereto, or to the application of the proceeds thereof. Said bonds or notes shall be negotiable in all respects and to the same extent as other securities negotiable by the law merchant except as herein otherwise provided. Any of such bonds or notes, if properly executed by officers of the municipality in office on the date of execution, shall be valid and binding according to their terms notwithstanding that before the delivery thereof and payment therefor such officers shall have ceased to be officers of the municipality.
Source.
1895, 43:7. PL 59:21. RL 72:21. 1953, 258:1, par. 15, eff. Jan. 1, 1954.
2023 New Hampshire Revised Statutes › Title III - Towns, Cities, Village Districts, and Unincorporated Places › Chapter 33 - Municipal Finance Act › Section 33:16 - Tax Exemption.

33:16 Tax Exemption. –
All bonds and notes, and the interest thereon, heretofore or hereafter issued by municipal corporations and counties under the provisions of this chapter or of any general or special act, heretofore or hereafter enacted, shall be exempt from taxation in the state of New Hampshire. For the purpose of this section the amount of the discount on any notes which are sold at discount shall be deemed to be interest paid in advance.
Source.
1953, 258:1, par. 16, eff. Jan. 1, 1954.
2023 New Hampshire Revised Statutes › Title III - Towns, Cities, Village Districts, and Unincorporated Places › Chapter 33 - Municipal Finance Act › Section 33:17 - Construction of Other Legislation.

33:17 Construction of Other Legislation. –
Any special act, heretofore or hereafter enacted shall be construed so as not to lessen the amount of indebtedness which the municipality affected would be authorized to incur under the terms of this chapter, unless such act expressly provides for such limitation.
Source.
1931, 115:1. RL 72:22. 1953, 258:1, par. 17, eff. Jan. 1, 1954.
2023 New Hampshire Revised Statutes › Title III - Towns, Cities, Village Districts, and Unincorporated Places › Chapter 33 - Municipal Finance Act › Section 33:18 - Saving Clause.

33:18 Saving Clause. –
I. Nothing contained herein shall impair the validity of any debt properly issued by a municipality or county under authority of any general or special act so repealed hereby.
II. Chapter 9, Laws of 1953, [RSA ch. 204 ], shall not be deemed repealed by this act.
Source.
1953, 258:2, eff. Jan. 1, 1954.
2023 New Hampshire Revised Statutes › Title III - Towns, Cities, Village Districts, and Unincorporated Places › Chapter 33 - Municipal Finance Act › Section 33:19 - Validity and Enforceability of Certain Obligations and Indebtedness.

33:19 Validity and Enforceability of Certain Obligations and Indebtedness. –
Any obligation and indebtedness incurred under this chapter prior to January 1, 1999 and any obligation and indebtedness incurred under this chapter on or after January 1, 1999 which mature on or before March 31, 2000 shall be a valid and enforceable obligation and debt of the municipality that approved such obligation and indebtedness in the manner required by this chapter, notwithstanding the fact that all or any portion of the tax revenues that the municipality expects to use to repay such indebtedness or obligation is, or can reasonably be expected, to be derived from tax revenues from levies for the school portion of the municipality's tax rate. No member of any municipal legislative body or governing body, and no officer of any municipality, shall have any official or personal liability as a result of executing and delivering, on behalf of such municipality, any such obligation or debt authorized in said manner.
Source.
1999, 2:1, eff. Feb. 3, 1999.
2023 New Hampshire Revised Statutes › Title III - Towns, Cities, Village Districts, and Unincorporated Places › Chapter 33-A - Disposition of Municipal Records › Section 33-A:1 - Definition of Terms.

33-A:1 Definition of Terms. –
In this chapter:
I. "Board" means the municipal records board.
II. "Municipal" refers to a city or town, county or precinct.
III. "Municipal officers" means:
(a) In the case of a town, the board of selectmen.
(b) In the case of a city which has adopted the council manager plan under RSA 49-A, the city manager.
(c) In the case of any other city, the mayor.
(d) In the case of a county, the county commissioners.
(e) In the case of a precinct, the precinct commissioners.
IV. "Municipal records" means all municipal records, reports, minutes, tax records, ledgers, journals, checks, bills, receipts, warrants, payrolls, deeds and any other written or computerized material that may be designated by the board.
V. "Active" means until termination or expiration of obligations or services, cessation of need for further attention, and completion or release of any pending legal processes.
Source.
1967, 105:1. 1977, 358:1, eff. July 1, 1977. 2005, 187:1, eff. Aug. 29, 2005.
2023 New Hampshire Revised Statutes › Title III - Towns, Cities, Village Districts, and Unincorporated Places › Chapter 33-A - Disposition of Municipal Records › Section 33-A:2 - Repealed by 1957, 95:2, eff. Jan. 1, 1958.

33-A:2 Repealed by 1957, 95:2, eff. Jan. 1, 1958. –
2023 New Hampshire Revised Statutes › Title III - Towns, Cities, Village Districts, and Unincorporated Places › Chapter 33-A - Disposition of Municipal Records › Section 33-A:3 - Municipal Committees.

33-A:3 Municipal Committees. –
The municipal officers or their designee together with the clerk, treasurer, an assessor, and tax collector of each city or town shall constitute a committee to govern the disposition of municipal records pursuant to this chapter. Unless otherwise provided by a municipal ordinance, the committee shall designate the office responsible for the retention of each type of record created for the municipality.
Source.
1967, 105:1. 1977, 358:2, eff. July 1, 1977. 2005, 187:2, eff. Aug. 29, 2005. 2006, 119:1, eff. May 12, 2006.
2023 New Hampshire Revised Statutes › Title III - Towns, Cities, Village Districts, and Unincorporated Places › Chapter 33-A - Disposition of Municipal Records › Section 33-A:4 - Repealed by 1977, 358:7, II, eff. July 1, 1977.

33-A:4 Repealed by 1977, 358:7, II, eff. July 1, 1977. –
2023 New Hampshire Revised Statutes › Title III - Towns, Cities, Village Districts, and Unincorporated Places › Chapter 33-A - Disposition of Municipal Records › Section 33-A:4-a - Municipal Records Board.

33-A:4-a Municipal Records Board. –
I. There is hereby established a municipal records board consisting of the following persons or their designees:
(a) The director of the division of archives and records management.
(b) The director of the New Hampshire Historical Society.
(c) The state librarian.
(d) The presidents of the New Hampshire Tax Collectors' Association, the New Hampshire City and Town Clerks' Association and the Association of New Hampshire Assessors.
(e) The registrar of vital records.
(f) The secretary of state.
(g) A municipal treasurer or finance director appointed by the president of the New Hampshire Municipal Association for a 3-year term.
(h) A professional historian appointed by the governor and council for a 3-year term.
(i) A representative of the Association of New Hampshire Historical Societies appointed by its president for a 3-year term.
(j) A representative of the department of revenue administration.
(k) The state records manager.
II. The board shall elect its own chairman and vice-chairman. The board shall meet at the call of the chairman, but not less than once every 2 calendar years. Five members of the board shall constitute a quorum for all purposes. Board members shall serve without compensation. Administrative services for the board shall be provided by the director of the division of archives and records management who shall serve as secretary of the board.
Source.
1977, 358:3. 1985, 102:1. 1991, 197:1, eff. July 27, 1991. 2003, 97:4, eff. Aug. 5, 2003; 319:56, eff. July 1, 2003.
2023 New Hampshire Revised Statutes › Title III - Towns, Cities, Village Districts, and Unincorporated Places › Chapter 33-A - Disposition of Municipal Records › Section 33-A:4-b - Powers and Duties of Board.

33-A:4-b Powers and Duties of Board. –
The board shall advise the secretary of state on standards and procedures for the effective and efficient management of municipal records. Such standards and procedures shall govern the retention, preservation and disposition of municipal records. The board shall oversee the local government records management improvement program as provided in RSA 5:47-5:51.
Source.
1977, 358:3, eff. July 1, 1977. 2002, 145:3, eff. July 12, 2002. 2005, 187:4, eff. Aug. 29, 2005.
2023 New Hampshire Revised Statutes › Title III - Towns, Cities, Village Districts, and Unincorporated Places › Chapter 33-A - Disposition of Municipal Records › Section 33-A:5 - Microfilming.

33-A:5 Microfilming. –
If municipal records are disposed of by microfilming, 2 films shall be produced. One film shall be retained by the municipality in a fireproof container and properly labeled. One shall be transferred to a suitable location for permanent storage.
Source.
1967, 105:1. 1977, 358:4, eff. July 1, 1977.
2023 New Hampshire Revised Statutes › Title III - Towns, Cities, Village Districts, and Unincorporated Places › Chapter 33-A - Disposition of Municipal Records › Section 33-A:5-a - Electronic Records.

33-A:5-a Electronic Records. –
I. Paper municipal records listed in the disposition and retention schedule of RSA 33-A:3-a may be transferred to electronic records, as defined in RSA 5:29, VI, and the original paper records may be disposed of as the municipality chooses, subject to the requirements of other state or federal laws. Such records shall be stored in portable document format/archival (PDF/A) or another file format approved by the secretary of state and the municipal records board.
II. Electronic municipal records listed on the disposition and retention schedule of RSA 33-A:3-a that are to be retained for 10 years or less may be retained solely electronically in their original format if so approved by the municipal committee responsible for the records. The municipality is responsible for assuring the accessibility of the records for the retention period. If the records retention period exceeds 10 years or the municipal committee does not approve retention of the record solely electronically in an approved format, the records shall be transferred to paper, microfilmed, or stored in portable document format/archival (PDF/A) or another approved file format on a medium from which it is readily retrievable. At least once every 5 years from date of creation, the municipal committee shall review documents and procedures for compliance with guidelines issued by the secretary of state and the municipal records board.
Source.
2005, 187:5, eff. Aug. 29, 2005. 2006, 275:6, eff. June 15, 2006. 2016, 226:1, eff. Aug. 8, 2016. 2017, 96:1, eff. Aug. 7, 2017.
2023 New Hampshire Revised Statutes › Title III - Towns, Cities, Village Districts, and Unincorporated Places › Chapter 33-A - Disposition of Municipal Records › Section 33-A:6 - Exception.

33-A:6 Exception. –
Notwithstanding any other provision hereof, original town meeting and city council records shall not be disposed of but shall be permanently preserved. Such records prior to 1900 need not be microfilmed unless legible.
Source.
1967, 105:1, eff. July 10, 1967.
2023 New Hampshire Revised Statutes › Title III - Towns, Cities, Village Districts, and Unincorporated Places › Chapter 33-B - Municipal Revenue Bonds › Section 33-B:2 - Issuance of Revenue Bonds.

33-B:2 Issuance of Revenue Bonds. –
A municipality or regional water district may issue bonds or notes under this chapter for construction of revenue-producing facilities. Bonds issued by a municipality or regional water district under this chapter shall not be deemed to be a pledge of the faith and credit of the state or of the municipality or municipalities that are members of a regional water district. Except as otherwise provided in this chapter, the principal of, premium, if any, and interest on all bonds shall be payable solely from the particular funds provided therefor under this chapter. Bonds issued by a municipality shall be issued in such amounts as the legislative body may authorize by a vote as required under RSA 33:8 or 9, as applicable. Bonds issued by regional water districts shall be issued in such amounts as the governing body may authorize pursuant to the regional water district's charter. Bonds of each issue shall be dated, shall bear interest at such rate or rates, including rates variable from time to time as determined by such index, banker's loan rate or other method as may be determined by the authorized officers, and shall mature at such time or times as may be determined by the authorized officers, except that no bond shall mature more than 40 years from the date of its issue or beyond the expiration of the expected useful life of the facilities being financed by the bonds as determined by the authorized officers. Bonds may be made redeemable before maturity at the option of the municipality or regional water district at such price or prices and under such terms and conditions as may be fixed by the authorized officers prior to the issue of bonds. The authorized officers shall determine the form and details and the manner of execution of bonds. The municipality or regional water district may sell its bonds in such manner, either at public or private sale, for such price, at such rate or rates of interest, or at such discount in lieu of interest, as the authorized officers may determine. The provisions of RSA 33:11-a, 14 and 15 shall apply to bonds issued under this chapter.
Source.
1988, 90:1, eff. June 17, 1988. 2003, 281:6, eff. July 18, 2003.
2023 New Hampshire Revised Statutes › Title III - Towns, Cities, Village Districts, and Unincorporated Places › Chapter 33-B - Municipal Revenue Bonds › Section 33-B:3 - Project Costs.

33-B:3 Project Costs. –
In addition to other lawful items, the costs to be financed by the issuance of bonds under this chapter may include interest during construction and for up to one year after completion of the revenue-producing facilities being financed as estimated by the authorized officers, the cost of architectural, engineering, financial and legal services, plans, specifications, studies, expenses as may be necessary or incident to determining the feasibility or practicability of constructing the revenue-producing facilities, the funding of reserves for debt service or other expenses, and such other expenses as may be necessary or incident to the construction of the revenue-producing facilities, the financing of such construction and the placing of the facilities in operation.
Source.
1988, 90:1, eff. June 17, 1988.
2023 New Hampshire Revised Statutes › Title III - Towns, Cities, Village Districts, and Unincorporated Places › Chapter 33-B - Municipal Revenue Bonds › Section 33-B:4 - Trust or Security Agreement or Resolution.

33-B:4 Trust or Security Agreement or Resolution. –
Any bonds issued under this chapter may be secured by a resolution or by a trust or security agreement between the municipality and a corporate trustee, which may be any trust company or bank having the powers of a trust company within or without the state, or by a trust or security agreement directly between the municipality and the purchasers of the bonds, and such resolution or trust or security agreement shall be in such form and executed in such manner as may be determined by the authorized officers. Such trust or security agreement or resolution may pledge or assign, in whole or in part, the revenues held or to be received by the municipality from or on account of the revenue-producing facilities, and any contract or other rights to receive the same, whether then existing or thereafter coming into existence and whether then held or thereafter acquired by the municipality, and the proceeds thereof. Such trust or security agreement or resolution may contain such provisions for protecting and enforcing the rights, security and remedies of the bondholders as may, in the discretion of the authorized officers, be reasonable and proper and not in violation of law. Without limiting the generality of the foregoing, such agreement or resolution may include provisions defining defaults and providing for remedies in the event of default, which may include the acceleration of maturities, and covenants setting forth the duties of, and limitations on, the municipality in relation to the custody, safeguarding, investment and application of moneys, the issue of additional or refunding bonds, the fixing, revision and collection of fees, charges and other revenues, the use of any surplus bond proceeds, the establishment of reserves, the construction and operation of the revenue-producing facilities, and the making and amending of contracts relating to the bonds. It shall be lawful for any bank or trust company described in RSA 41:29 or RSA 48:16 to act as a depository or trustee of the proceeds of bonds, revenues or other moneys under a trust or security agreement or resolution and to furnish such indemnification or to pledge such securities and issue such letters or lines of credit or other credit facilities as may be required by a municipality acting under this chapter. Any such trust or security agreement or resolution may set forth the rights and remedies of bondholders and of the trustee and may restrict the individual right of action by bondholders.
Source.
1988, 90:1, eff. June 17, 1988.
2023 New Hampshire Revised Statutes › Title III - Towns, Cities, Village Districts, and Unincorporated Places › Chapter 33-B - Municipal Revenue Bonds › Section 33-B:5 - Credit Facilities and Insurance.

33-B:5 Credit Facilities and Insurance. –
Any bonds issued under authority of this chapter may be issued by a municipality pursuant to lines of credit or other banking arrangements under such terms and conditions not inconsistent with this chapter, and under such agreements as the authorized officers may determine to be in the best interests of the municipality. In addition to other security provided herein or otherwise by law, bonds issued by a municipality under this chapter may be secured, in whole or in part, by insurance or by letters or lines of credit or other credit facilities issued to the municipality by any bank, trust company or other financial institution, within or without the state, and the municipality may pledge or assign any of the revenues from its revenue-producing facilities as security for the reimbursement by the municipality to the issuers of such letters or lines of credit, insurance or credit facilities of any payments made thereunder.
Source.
1988, 90:1, eff. June 17, 1988.
2023 New Hampshire Revised Statutes › Title III - Towns, Cities, Village Districts, and Unincorporated Places › Chapter 33-B - Municipal Revenue Bonds › Section 33-B:6 - Pledge of Revenues or Other Property.

33-B:6 Pledge of Revenues or Other Property. –
Any pledge of revenues, contract or other rights to receive revenues, or the proceeds thereof made by a municipality under this chapter shall be valid and binding and shall be deemed continuously perfected for the purposes of the Uniform Commercial Code and other laws from the time when the pledge is made; the revenues, moneys, rights and proceeds so pledged and then held or thereafter acquired or received by the municipality shall immediately be subject to the lien of such pledge without any physical delivery or segregation thereof or further act; and the lien of such pledge shall be valid and binding against all parties having claims of any kind in tort, contract or otherwise against the municipality, irrespective of whether such parties have notice thereof. Neither the resolution, any trust or security agreement nor any other agreement by which a pledge is created need be filed or recorded except in the records of the municipality and no filing need be made under the Uniform Commercial Code.
Source.
1988, 90:1, eff. June 17, 1988.
2023 New Hampshire Revised Statutes › Title III - Towns, Cities, Village Districts, and Unincorporated Places › Chapter 33-B - Municipal Revenue Bonds › Section 33-B:7 - Enforcement of Rights.

33-B:7 Enforcement of Rights. –
Any owner of a bond issued by a municipality under the provisions of this chapter and any trustee under a trust or security agreement or resolution securing the same, except to the extent the rights herein given may be restricted by such agreement or resolution, may bring suit upon the bonds and may, either at law or in equity, by suit, action, mandamus, or other proceeding for legal or equitable relief, protect and enforce any and all rights under the laws of the state or granted hereunder or under such trust or security agreement or resolution and may enforce and compel the performance of all duties required by this chapter or by such agreement or resolution to be performed by the municipality or by any officer of a municipality.
Source.
1988, 90:1, eff. June 17, 1988.
2023 New Hampshire Revised Statutes › Title III - Towns, Cities, Village Districts, and Unincorporated Places › Chapter 33-B - Municipal Revenue Bonds › Section 33-B:8 - Refunding Bonds.

33-B:8 Refunding Bonds. –
A municipality, when authorized by its legislative body, may issue refunding bonds for the purpose of paying any of its bonds issued pursuant to this chapter at or prior to maturity or upon acceleration or redemption. Refunding bonds may be issued at such times prior to the maturity or redemption of the refunding bonds as the authorized officers may determine. The refunding bonds may be issued in sufficient amounts to pay or provide the principal of the bonds being refunded, together with any redemption premium on the bonds, any interest accrued or to accrue to the date of payment of such bonds, the expenses of issue of the refunding bonds, the expenses of redeeming the bonds being refunded, and such reserves for debt service or other expenses from the proceeds of such refunding bonds as may be required by a trust or security agreement or resolution securing the bonds. The authorization and issue of refunding bonds, the maturities and other details of such bonds, the security for the bonds, the rights of the holders of the bonds, and the rights, duties and obligations of the municipality in respect to the same shall be governed by the provisions of this chapter relating to the issue of the bonds other than refunding bonds insofar as the same may be applicable.
Source.
1988, 90:1, eff. June 17, 1988.
2023 New Hampshire Revised Statutes › Title III - Towns, Cities, Village Districts, and Unincorporated Places › Chapter 33-B - Municipal Revenue Bonds › Section 33-B:9 - Governmental Consents.

33-B:9 Governmental Consents. –
I. Bonds may be issued under this chapter without obtaining the consent of any department, division, commission, board, or agency of the state except as provided in paragraph II, and without any other proceedings or the happening of any condition or things other than those proceedings, conditions or things which are specifically required therefor by this chapter, and the validity of and security for any bonds issued by a municipality pursuant to this chapter shall not be affected by the existence or nonexistence of any such consent or other proceedings, condition or things.
II. If in the opinion of either the authorized officers or the state treasurer more than 1/2 of the revenues derived or expected to be derived from a revenue-producing facility will be in the form of rents, fees, grants or other moneys paid by the state, no bonds may be issued for the revenue-producing facility in excess of an amount approved for the purpose by the governor and council.
Source.
1988, 90:1, eff. June 17, 1988.
2023 New Hampshire Revised Statutes › Title III - Towns, Cities, Village Districts, and Unincorporated Places › Chapter 33-B - Municipal Revenue Bonds › Section 33-B:10 - Investment Securities.

33-B:10 Investment Securities. –
Notwithstanding any of the provisions of this chapter or any recitals in any bonds issued under this chapter, all such bonds shall be deemed to be investment securities under the Uniform Commercial Code.
Source.
1988, 90:1, eff. June 17, 1988.
2023 New Hampshire Revised Statutes › Title III - Towns, Cities, Village Districts, and Unincorporated Places › Chapter 33-B - Municipal Revenue Bonds › Section 33-B:11 - Separate Funds.

33-B:11 Separate Funds. –
Any debt service fund, construction fund, debt service reserve fund, depreciation reserve fund or other fund established in connection with the issuance of bonds under this chapter shall be kept separate from other moneys of the municipality. The moneys deposited in any such funds, together with income derived from any investments held as part of such funds, shall be expended without further authorization or appropriation as provided for in the trust or security agreement or resolution establishing such funds.
Source.
1988, 90:1, eff. June 17, 1988.
2023 New Hampshire Revised Statutes › Title III - Towns, Cities, Village Districts, and Unincorporated Places › Chapter 33-B - Municipal Revenue Bonds › Section 33-B:12 - Trust Funds.

33-B:12 Trust Funds. –
All moneys received pursuant to the provisions of this chapter, whether as proceeds from the issue of bonds, as revenues, or otherwise, shall be deemed to be trust funds to be held and applied solely as provided in this chapter.
Source.
1988, 90:1, eff. June 17, 1988.
2023 New Hampshire Revised Statutes › Title III - Towns, Cities, Village Districts, and Unincorporated Places › Chapter 33-B - Municipal Revenue Bonds › Section 33-B:13 - Tax Exemption.

33-B:13 Tax Exemption. –
Bonds issued under this chapter, their transfer and income from them, including any profit made on their sale, shall at all times be exempt from taxation within the state.
Source.
1988, 90:1, eff. June 17, 1988.
2023 New Hampshire Revised Statutes › Title III - Towns, Cities, Village Districts, and Unincorporated Places › Chapter 33-B - Municipal Revenue Bonds › Section 33-B:14 - Eligible Investments.

33-B:14 Eligible Investments. –
Bonds issued under this chapter are hereby made securities in which all public officers, agencies and authorities of the state and of its political subdivisions, insurance companies, investment companies, executors, administrators, trustees and other fiduciaries may properly and legally invest funds, including capital in their control or belonging to them. Such bonds are hereby made securities which may properly and legally be deposited with and received by any state or municipal officer or any agency, authority or political subdivision of the state for any purpose for which the deposit of bonds or obligations of the state or of any political subdivision is now or may hereafter be authorized by law.
Source.
1988, 90:1, eff. June 17, 1988.
2023 New Hampshire Revised Statutes › Title III - Towns, Cities, Village Districts, and Unincorporated Places › Chapter 33-B - Municipal Revenue Bonds › Section 33-B:15 - Construction and Effect of Other Laws.

33-B:15 Construction and Effect of Other Laws. –
I. The provisions of this chapter shall be deemed to provide an additional and alternative method for the effectuation of the purposes of this chapter and shall be construed to be supplemental to, and not in derogation of, powers otherwise conferred by law on municipalities, provided, however, that insofar as the provisions of this chapter are inconsistent with the provisions of any general or special law, administrative order or rule or any limitation imposed by a municipality's charter, the provisions of this chapter shall be controlling.
II. If any provision of this chapter or the application thereof 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 provisions or application, and to this end the provisions of this chapter are severable.
III. This chapter shall be construed in all respects so as to meet all constitutional requirements. In carrying out the purposes and provisions of this chapter, all steps shall be taken which are necessary to meet constitutional requirements.
IV. This chapter shall be interpreted liberally to effect the purposes set forth in this chapter.
Source.
1988, 90:1, eff. June 17, 1988.
2023 New Hampshire Revised Statutes › Title III - Towns, Cities, Village Districts, and Unincorporated Places › Chapter 34 - Capital Reserve Funds for Cities › Section 34:1 - Establishment of Reserves Authorized.

34:1 Establishment of Reserves Authorized. –
Any city may raise and appropriate money as provided by RSA 34:2, from any source other than money given to the city for charitable purposes, for the establishment of a capital reserve fund for the financing of all or part of the cost of:
I. The construction, reconstruction, or acquisition of a specific capital improvement, or the acquisition of a specific item or of specific items of equipment;
II. The construction, reconstruction, or acquisition of a type of capital improvement or the acquisition of a type of equipment;
III. A reappraisal by appraisers of the department of revenue administration or such other appraisers, appraisal firms or corporations approved by the commissioner of revenue administration, of the real estate in such city for tax assessment purposes;
IV. The acquisition of land;
V. The acquisition of a tax map of such city;
VI. Municipal and regional transportation improvement projects including engineering, right-of-way acquisition and construction costs of transportation facilities, and for operating and capital costs for public transportation; or
VII. The repayment of bonded debt issued for the purpose specified in the fund, in conformance with existing Internal Revenue Service rules.
Source.
1949, 181:1. RSA 34:1. 1973, 51:1. 1977, 588:45. 1985, 285:1, eff. Aug. 10, 1985. 1998, 4:2, eff. May 17, 1998. 2000, 224:2, eff. July 31, 2000. 2007, 178:1, eff. Aug. 17, 2007.
2023 New Hampshire Revised Statutes › Title III - Towns, Cities, Village Districts, and Unincorporated Places › Chapter 34 - Capital Reserve Funds for Cities › Section 34:1-a - Non-Capital Reserve Funds Authorized.

34:1-a Non-Capital Reserve Funds Authorized. –
Any city may establish a reserve fund for the maintenance and operation of a specific public facility or type of facility, a specific item or type of equipment, or for any other distinctly-stated, specific public purpose that is not foreign to its institution or incompatible with the objects of its organization. Such funds shall be subject to all provisions and limitations of this chapter as are applicable to capital reserve funds. The legal validity of such a fund properly established shall not be affected by its designation as a "trust," "reserve," "capital reserve," or any other designation.
Source.
1995, 20:4, eff. June 11, 1995.
2023 New Hampshire Revised Statutes › Title III - Towns, Cities, Village Districts, and Unincorporated Places › Chapter 34 - Capital Reserve Funds for Cities › Section 34:2 - Hearing.

34:2 Hearing. –
The authority granted by RSA 34:1 shall be exercised by the city council only after a public hearing on the annual budget as required by RSA 44:10, and by the adoption of a capital improvement budget and program. The public notice of said hearing shall include a statement distinctly stating the purposes for which such reserve is to be established.
Source.
1949, 181:2, eff. May 3, 1949.
2023 New Hampshire Revised Statutes › Title III - Towns, Cities, Village Districts, and Unincorporated Places › Chapter 34 - Capital Reserve Funds for Cities › Section 34:3 - Payments Into Fund.

34:3 Payments Into Fund. –
I. There may be paid into any such capital reserve fund such amounts as may from time to time be raised and appropriated therefor, from any source other than money given to the city for charitable purposes, within the limits as provided in RSA 34:4.
II. The city council may also by a favorable vote of 3/4 of its members, transfer to such fund after a public hearing with notice as provided in RSA 34:2, not more than 1/2 of its unencumbered surplus funds remaining on hand at the end of the fiscal year, within the limits as provided in RSA 34:4.
Source.
1949, 181:3, eff. May 3, 1949. 2000, 224:3, eff. July 31, 2000.
2023 New Hampshire Revised Statutes › Title III - Towns, Cities, Village Districts, and Unincorporated Places › Chapter 34 - Capital Reserve Funds for Cities › Section 34:4 - Limitations on Appropriations.

34:4 Limitations on Appropriations. –
No city shall raise and appropriate or transfer from any of its unencumbered surplus funds in any one year for such reserves a total amount in excess of 1/4 of one percent of the last assessed valuation of the city.
Source.
1949, 181:4, eff. May 3, 1949.
2023 New Hampshire Revised Statutes › Title III - Towns, Cities, Village Districts, and Unincorporated Places › Chapter 34 - Capital Reserve Funds for Cities › Section 34:5 - Investment.

34:5 Investment. –
The moneys in such fund shall be kept in a separate account and not intermingled with the other funds of the city. Said capital reserve fund shall be invested only by deposit in a federally insured bank authorized to accept deposits under RSA 6:8, I and I-a, in such stocks and bonds as are legal for investment by New Hampshire savings banks, or in participation units in the public deposit investment pool established pursuant to RSA 6:45, or in obligations with principal and interest fully guaranteed by the United States government. The obligations may be held directly or in the form of securities of or other interests in any open-end or closed-end management-type investment company or investment trust registered under 15 U.S.C. section 80a-1 et seq., if the portfolio of the investment company or investment trust is limited to such obligations and repurchase agreements fully collateralized by such obligations. When so invested in good faith the trustees hereinafter named shall not be liable for the loss of such moneys. Any interest earned or capital gains realized on the moneys so invested shall accrue to and become a part of the fund. Deposits in banks shall be made in the name of the city, and it shall appear upon the book thereof that the same is a capital reserve fund. Any person who directly or indirectly receives any such funds or moneys for deposit or for investment in securities of any kind shall, prior to acceptance of such funds, make available at the time of such deposit or investment, an option to have such funds secured by collateral having a value at least equal to the amount of such funds. Such collateral shall be segregated for the exclusive benefit of the city. Only securities defined by the bank commissioner in rules adopted pursuant to RSA 383-B:3-301(e) shall be eligible to be pledged as collateral. The trustees shall formally adopt an investment policy for all investments made by them or by their agents for any trust funds in their custody in conformance with the provisions of applicable statutes. The trustees shall review and confirm the investment policy at least annually. A copy of the investment policy shall be filed with the attorney general.
Source.
1949, 181:5. RSA 34:5. 1965, 174:1. 1991, 268:6; 383:3. 1995, 20:5, eff. June 11, 1995. 1996, 209:8, eff. Aug. 9, 1996. 2007, 164:2, eff. Aug. 17, 2007. 2015, 272:41, eff. Oct. 1, 2015. 2021, 65:12, eff. Aug. 3, 2021. 2023, 36:2, eff. July 16, 2023.