Section 6-A:4 Short Term Notes. - New Hampshire Statutes

Pending the issue of bonds, the state treasurer, when authorized by the governor and council, may borrow money on short term notes in anticipation of the bonds. At no time shall the amount due on such short term notes exceed the amount of the appropriation for the same purposes. Each such note shall mature within 5 years from its date, provided that notes issued for a shorter period may be refunded from time to time by the issue of other such notes maturing within 5 years from the date of the original loan being refunded. The notes may also be refunded by the issue of bonds hereunder or may be paid from any cash in the treasury. The notes shall be deemed a pledge of the faith and credit of the state. Any premium received on the sale of notes shall be applied to the payment of the costs of issuing the notes or credited to the general fund, as the state treasurer shall determine.

Source. 1967, 88:1, eff. April 27, 1967. 2008, 120:14, eff. Aug. 2, 2008.