Section 237:8 Borrowing Power. - New Hampshire Statutes

For the purpose of providing a portion of the funds necessary for the appropriations made by RSA 237:7 the state treasurer is authorized to borrow upon the credit of the state a sum not exceeding $91,500,000 and may issue general obligation bonds and notes in the name and on behalf of the state in accordance with the provisions of RSA 6-A; provided that the bonds may mature up to 30 years from their dates of issue and may be made redeemable before maturity at the option of the governor and council at such price or prices and under such terms and conditions as may be fixed by the governor and council prior to the issue of the bonds. In addition, the state treasurer is authorized to issue revenue bonds under RSA 237-A to provide the additional funds necessary for the appropriations made by RSA 237:7, as well as to pay related project costs, including costs of issuance and funding of reserves, all in accordance with and subject to the debt limit prescribed in RSA 237-A.

Source. RSA 256-C:7. 1971, 520:1. 1973, 500:3. 1975, 286:4. 1977, 558:5. 1981, 87:1. 1983, 76:3; 427:3; 451:3. 1985, 246:2, 391:2, 8. 1987, 266:4. 1989, 356:5. 1991, 255:4, eff. July 1, 1991; 301:8, eff. Aug. 23, 1991.