Section 204-C:11-a Financing for Community Providers. - New Hampshire Statutes

   I. Notwithstanding any other requirement of this chapter relating to the making or purchasing of loans or mortgage loans or to the provisions of RSA 204-C:28, the authority may make loans on such terms, conditions and security, if any, as the authority may determine, to nonprofit corporations to finance, refinance or reimburse all or a portion of the costs of acquiring, constructing, improving or equipping community provider facilities in the state.
   II. For purposes of this section, ""community provider facilities'' means facilities owned and used by a nonprofit corporation, or a nonprofit affiliate of a nonprofit corporation, including, but not limited to, homes for the disabled, residential and day care facilities, administrative facilities, community facilities, transportation facilities, health facilities, recreational facilities, cultural facilities, educational facilities, and welfare facilities, deemed by the authority to be necessary, convenient, ancillary or desirable in connection with the rendering by such nonprofit corporation of services as a community provider to persons in the state.
   III. Before making any loan under this section, the authority shall find that such financing, refinancing or reimbursement will result in a public benefit. Loans made by the authority under this section may be made from the proceeds of obligations issued by the authority or from other sources; provided, however, no such obligation shall constitute a general obligation of the authority or a debt or pledge of the faith and credit of the authority.

Source. 1990, 220:1, eff. June 26, 1990.