New Hampshire Revised Statutes 204-C:11-a – Financing for Community Providers
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I. Notwithstanding any other requirement of this chapter relating to the making or purchasing of loans or mortgage loans or to the provisions of N.H. Rev. Stat. § 204-C:28, the authority may make loans on such terms, conditions and security, if any, as the authority may determine, to nonprofit corporations to finance, refinance or reimburse all or a portion of the costs of acquiring, constructing, improving or equipping community provider facilities in the state.
II. For purposes of this section, “community provider facilities” means facilities owned and used by a nonprofit corporation, or a nonprofit affiliate of a nonprofit corporation, including, but not limited to, homes for the disabled, residential and day care facilities, administrative facilities, community facilities, transportation facilities, health facilities, recreational facilities, cultural facilities, educational facilities, and welfare facilities, deemed by the authority to be necessary, convenient, ancillary or desirable in connection with the rendering by such nonprofit corporation of services as a community provider to persons in the state.
III. Before making any loan under this section, the authority shall find that such financing, refinancing or reimbursement will result in a public benefit. Loans made by the authority under this section may be made from the proceeds of obligations issued by the authority or from other sources; provided, however, no such obligation shall constitute a general obligation of the authority or a debt or pledge of the faith and credit of the authority.
II. For purposes of this section, “community provider facilities” means facilities owned and used by a nonprofit corporation, or a nonprofit affiliate of a nonprofit corporation, including, but not limited to, homes for the disabled, residential and day care facilities, administrative facilities, community facilities, transportation facilities, health facilities, recreational facilities, cultural facilities, educational facilities, and welfare facilities, deemed by the authority to be necessary, convenient, ancillary or desirable in connection with the rendering by such nonprofit corporation of services as a community provider to persons in the state.
Terms Used In New Hampshire Revised Statutes 204-C:11-a
- Authority: shall mean the New Hampshire housing finance authority. See New Hampshire Revised Statutes 204-C:1
- 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.
- 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.
- Obligations: shall mean collectively any bonds, notes, bond anticipation notes, debentures, interim certificates or other evidence of financial indebtedness issued by the authority pursuant to this chapter. See New Hampshire Revised Statutes 204-C:1
- 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
III. Before making any loan under this section, the authority shall find that such financing, refinancing or reimbursement will result in a public benefit. Loans made by the authority under this section may be made from the proceeds of obligations issued by the authority or from other sources; provided, however, no such obligation shall constitute a general obligation of the authority or a debt or pledge of the faith and credit of the authority.