New Hampshire Revised Statutes 195-F:19 – Effectuation of Purposes
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Terms Used In New Hampshire Revised Statutes 195-F:19
- Bank: means the New Hampshire municipal bond bank created and established by N. See New Hampshire Revised Statutes 195-F:3
- Bonds: means bonds of the bank issued pursuant to this chapter. See New Hampshire Revised Statutes 195-F:3
- Educational institution: means a public or other nonprofit institution situated within the state, which is either approved by the state board of education as a public academy under the standards pertaining to public high schools, and empowered to provide a program of education at the elementary or secondary level to students whose tuition costs are paid by the municipalities or the school districts in which the students reside, or any other institution which provides a program of education within the state which is preparatory for secondary, postsecondary, or higher education. See New Hampshire Revised Statutes 195-F:3
- Notes: means any notes of the bank issued pursuant to this chapter. See New Hampshire Revised Statutes 195-F:3
- Revenues: means all fees, charges, moneys, profits, payments of principal of or interest on educational institution bonds and other investments, gifts, grants, contributions, appropriations and all other income derived or to be derived by the bank under this chapter. See New Hampshire Revised Statutes 195-F:3
In order to effectively carry out its purpose under this chapter of making loans to educational institutions by purchase of educational institution bonds, and by receipt of its income from service charges and from payments of interest on and the maturing principal of educational institution bonds purchased and held by it, and in order to produce revenues or income to the bank sufficient at all times to meet its costs and expenses of operation under this chapter and to pay the principal of and interest on its outstanding bonds and notes when due, the bank shall at all times, and to the greatest extent possible, so plan to issue its bonds and notes and so lend money to educational institutions by the purchase of educational institution bonds so that the aforesaid intention and purpose is achieved without in any manner or respect jeopardizing any rights of the holders of bonds or notes of the bank or affecting other matters provided for in or pursuant to this chapter.