New Hampshire Revised Statutes 162-G:17 – Water Facilities
Current as of: 2023 | Check for updates
|
Other versions
I. Any municipality or other political subdivision enabled to adopt the provisions of N.H. Rev. Stat. Chapter 162-G may, by similar action, adopt the provisions of this section. Any such municipality or other political subdivision which adopts the provisions of this section may engage in projects under N.H. Rev. Stat. Chapter 162-G which have as their purpose the improvement of the furnishing of water for domestic, industrial, agricultural, or other uses, if the water for such uses is to be available on reasonable demand to members of the general public.
II. For the purposes of this section: “business and industrial facility” shall include and mean any facility suitable for collecting, purifying, storing, or distributing water for the aforesaid uses and shall hereinafter be called a “water facility”; “lease” shall include any conveyance or contract, however titled or described, providing for the use and operation of a water facility; “tenant” shall mean any corporation which is organized under the laws of this state for the purpose of furnishing water for any one or more of the uses described above and which is responsible for the use and operation of a water facility under a lease; and “trust indenture” shall include any conveyance, contract, or assignment to a trustee or other person to secure bonds issued to finance a water facility. A trust indenture may include a pledge of system revenues in whole or in part. A lease and a trust indenture may be combined as one instrument.
III. No such municipality or other political subdivision acting by itself, or through a business and industrial development authority pursuant to N.H. Rev. Stat. § 162-G:15-a, shall be required hereby to have any ownership or other possessory interest in a water facility. In making findings under N.H. Rev. Stat. § 162-G:8 when acting under this section, the governing body, instead of making the findings required by subparagraphs I(b) and I(c) of N.H. Rev. Stat. § 162-G:8, shall find that the tenant has the necessary powers and franchises to construct and operate the proposed water facility and that the proposed water facility is suitable for the furnishing of water for the uses for which it is intended.
II. For the purposes of this section: “business and industrial facility” shall include and mean any facility suitable for collecting, purifying, storing, or distributing water for the aforesaid uses and shall hereinafter be called a “water facility”; “lease” shall include any conveyance or contract, however titled or described, providing for the use and operation of a water facility; “tenant” shall mean any corporation which is organized under the laws of this state for the purpose of furnishing water for any one or more of the uses described above and which is responsible for the use and operation of a water facility under a lease; and “trust indenture” shall include any conveyance, contract, or assignment to a trustee or other person to secure bonds issued to finance a water facility. A trust indenture may include a pledge of system revenues in whole or in part. A lease and a trust indenture may be combined as one instrument.
Terms Used In New Hampshire Revised Statutes 162-G:17
- authority: shall mean the board of directors of a corporation described in N. See New Hampshire Revised Statutes 162-G:3
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Governing body: shall mean the board or body in which the general executive powers of the governmental unit are vested as defined in N. See New Hampshire Revised Statutes 162-G:3
- Lease: means :
(a) In the case where the authority is the lessor, "lease" shall mean a written instrument to which the authority and a tenant are parties and which provides for the use and occupancy of a business and industrial facility and the payment of rent to the authority. See New Hampshire Revised Statutes 162-G:3 - Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- person: may extend and be applied to bodies corporate and politic as well as to individuals. See New Hampshire Revised Statutes 21:9
- state: when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4
- Tenant: shall mean the person primarily liable for the payment of rent under a lease. See New Hampshire Revised Statutes 162-G:3
- Trust indenture: shall mean a written instrument between the governmental unit and any national bank or trust company doing business in the state of New Hampshire or in the Commonwealth of Massachusetts as trustee, which secures one or more series of bonds. See New Hampshire Revised Statutes 162-G:3
- Trustee: A person or institution holding and administering property in trust.
III. No such municipality or other political subdivision acting by itself, or through a business and industrial development authority pursuant to N.H. Rev. Stat. § 162-G:15-a, shall be required hereby to have any ownership or other possessory interest in a water facility. In making findings under N.H. Rev. Stat. § 162-G:8 when acting under this section, the governing body, instead of making the findings required by subparagraphs I(b) and I(c) of N.H. Rev. Stat. § 162-G:8, shall find that the tenant has the necessary powers and franchises to construct and operate the proposed water facility and that the proposed water facility is suitable for the furnishing of water for the uses for which it is intended.