Section 228:24-b Equipment Inventory Fund. - New Hampshire Statutes

   I. There is hereby established an equipment inventory fund which is hereby authorized as a revolving fund.
   II. The commissioner of transportation, through the division of property and plant management, may purchase such equipment as is necessary for the operation of the department's motor vehicle fleet and construction equipment fleet.
   III. The commissioner may rent or lease vehicles and equipment from the equipment inventory to all departments and institutions of the state, political subdivisions of the state and agencies of the federal government. He shall assess a fair and equitable charge with respect to the rental or lease of vehicles and equipment sufficient to defray all administrative, transportation, storage, maintenance, amortization, replacement and other costs incurred by the department in administering this account sufficient to continue the equipment inventory fund as a revolving fund. The revenue from the rent, lease, or sale of vehicles or equipment purchased, rented or leased with funds from the equipment inventory fund shall be deposited into the equipment inventory fund. The commissioner of transportation shall expend such funds for the operation of the mechanical services bureau, operation division of the department of transportation, and to purchase replacement or new motor vehicles and construction equipment, provided that the general court appropriates such funds from the equipment inventory fund to the mechanical services bureau.

Source. 1992, 289:36, eff. June 17, 1992.