New Hampshire Revised Statutes 162-I:10 – Obligations of the State
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I. No financing or security document, bond or other instrument shall in any way obligate the state to raise any money by taxation or use other public funds for any purpose in relation to an eligible facility, and neither the state nor the authority shall pay or promise to pay any debt or meet any financial obligation to any person at any time in relation to an eligible facility financed in whole or in part by the issue of bonds except:
(a) From moneys received or to be received under the provisions of a financing or security document entered into under this chapter or derived from the exercise of the authority’s rights under those instruments;
(b) As permitted by N.H. Rev. Stat. § 162-I:9, N.H. Rev. Stat. § 162-I:9-a, or N.H. Rev. Stat. § 162-I:9-b; or
(c) As may be required by law other than the provisions of this chapter.
II. Notwithstanding paragraph I, the authority may accept and expend with respect to an eligible facility any gifts or grants received from any source in accordance with the terms of the gifts or grants. Bonds issued under this chapter shall not be deemed obligations of the authority for the purposes of N.H. Rev. Stat. § 162-A:12.
(a) From moneys received or to be received under the provisions of a financing or security document entered into under this chapter or derived from the exercise of the authority’s rights under those instruments;
Terms Used In New Hampshire Revised Statutes 162-I:10
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- 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
(b) As permitted by N.H. Rev. Stat. § 162-I:9, N.H. Rev. Stat. § 162-I:9-a, or N.H. Rev. Stat. § 162-I:9-b; or
(c) As may be required by law other than the provisions of this chapter.
II. Notwithstanding paragraph I, the authority may accept and expend with respect to an eligible facility any gifts or grants received from any source in accordance with the terms of the gifts or grants. Bonds issued under this chapter shall not be deemed obligations of the authority for the purposes of N.H. Rev. Stat. § 162-A:12.