New Hampshire Revised Statutes 204-C:28 – General Obligations
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I. Except as may otherwise be expressly provided by resolution of the authority, every issue of its notes and bonds shall be general obligations of the authority payable out of any revenues or moneys of the authority, subject only to any agreements with the holders of particular notes or bonds pledging any particular revenues. The authority shall not at any time have outstanding obligations, other than obligations to which paragraph II applies, the unpaid principal amount of which is in excess of $600,000,000 in the aggregate. In computing the total amount of obligations of the authority which may at any time be outstanding for any purpose under this chapter, the amount of the outstanding obligations refunded or to be refunded from the proceeds of the sale of new obligations or by the exchange of new obligations shall be excluded.
II. In addition to the obligations which the authority may have outstanding under paragraph I, the authority may issue notes and bonds not in excess of $800,000,000 for the purposes specified in this paragraph. Such notes and bonds shall constitute general obligations of the authority payable out of any revenues or moneys of the authority, subject only to any agreements with the holders of particular notes or bonds pledging any particular revenues. The purposes for which such notes and bonds may be issued pursuant to this paragraph shall be to provide sufficient funds for any one or more of the following:
(a) The making of loans and mortgage loans to eligible mortgagors and eligible persons and families and the making of loans to lending institutions in each case to finance the acquisition, construction or rehabilitation of housing designed and planned, or being converted, to consist of not more than 4 family units for occupancy by eligible persons and families and of which at least one unit is occupied or is to be occupied by an eligible person or family owning the housing;
(b) The making of loans or advances with interest and whether or not secured by a mortgage to a single eligible person or family for the costs of reconstruction, rehabilitation or other improvements of existing housing owned by such single person or family and consisting of not more than 4 family units of which one is or is to be occupied by the owner, and for down payment costs, closing costs and other initial expenses of acquiring, financing or refinancing housing owned or to be owned by a single eligible person or family and consisting of not more than 4 family units of which one is or is to be occupied by the owner; the purchase of mortgages on any such housing or securing such loans or advances described above; the establishment of reserves to secure such notes and bonds, including any reserve fund created pursuant to N.H. Rev. Stat. § 204-C:40; and
(c) All other expenditures of the authority incident to and necessary or convenient to carry out the issuance of notes and bonds to provide sufficient funds for any one or more of the other purposes enumerated in this paragraph. The provisions of N.H. Rev. Stat. § 204-C:41 shall not apply with respect to any bond reserve fund established under N.H. Rev. Stat. § 204-C:40 with respect to bonds of the authority to which this paragraph applies.
III. In addition to the obligations which the authority may have outstanding under paragraphs I and II, the authority may issue notes and bonds not in excess of $600,000,000 for the purposes specified in this paragraph. Such notes and bonds shall constitute general obligations of the authority payable out of any revenue or moneys of the authority, subject only to any agreements with the holders of particular notes or bonds pledging any particular revenues. The purposes for which such notes and bonds may be issued shall be to provide sufficient funds for any purpose authorized by this chapter; such notes and bonds may, at the discretion of the authority, be subject to the provisions of N.H. Rev. Stat. § 204-C:41 with respect to any bond reserve fund established under N.H. Rev. Stat. § 204-C:40 and may, at the discretion of the authority, be subject to the provisions of N.H. Rev. Stat. § 204-C:49, II.
II. In addition to the obligations which the authority may have outstanding under paragraph I, the authority may issue notes and bonds not in excess of $800,000,000 for the purposes specified in this paragraph. Such notes and bonds shall constitute general obligations of the authority payable out of any revenues or moneys of the authority, subject only to any agreements with the holders of particular notes or bonds pledging any particular revenues. The purposes for which such notes and bonds may be issued pursuant to this paragraph shall be to provide sufficient funds for any one or more of the following:
Terms Used In New Hampshire Revised Statutes 204-C:28
- Authority: shall mean the New Hampshire housing finance authority. See New Hampshire Revised Statutes 204-C:1
- Bonds: shall mean bonds of the authority issued under this chapter, including refunding bonds. See New Hampshire Revised Statutes 204-C:1
- Eligible persons and families: shall mean a person or persons, and families of 2 or more persons, irrespective of race, creed, national origin, sex, or gender identity, determined by the authority to require assistance under this chapter on account of insufficient personal or family income taking into consideration, without limitation, such factors as follows: (a) the amount of the total income of such persons and families available for housing needs; (b) the size of the family; (c) the cost and condition of housing facilities available; (d) the ability of such persons and families to compete successfully in the normal private housing market and to pay the amounts at which private enterprise is providing decent, safe and sanitary housing; and (e) if appropriate, standards established for various federal programs determining eligibility based on income of such persons and families. See New Hampshire Revised Statutes 204-C:1
- following: when used by way of reference to any section of these laws, shall mean the section next preceding or following that in which such reference is made, unless some other is expressly designated. See New Hampshire Revised Statutes 21:13
- Housing: shall mean one or more new or existing dwelling units in the state financed pursuant to this chapter, including homes for persons with disabilities, mobile homes, prefabricated homes, any buildings, land, improvements, equipment, facilities or other real or personal properties which are deemed by the authority to be necessary, convenient, ancillary or desirable in connection with such dwelling units, and including, but not limited to, streets, sewers, utilities, parks, site preparation, off-site facilities, landscaping and other nonhousing facilities such as administrative, community, transportation, health, recreational, educational, commercial, retail, welfare and public facilities. See New Hampshire Revised Statutes 204-C:1
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgage: shall mean a mortgage deed, deed of trust, or other instrument which shall constitute or create a security interest in tangible personal property constituting housing, or a lien on real property or on a leasehold under a lease having a remaining term, at any time such mortgage is acquired, which does not expire for at least that number of years beyond the maturity date of the obligation secured by such mortgage as is established by the authority as necessary to protect its interest as mortgagee. See New Hampshire Revised Statutes 204-C:1
- 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
- person: may extend and be applied to bodies corporate and politic as well as to individuals. See New Hampshire Revised Statutes 21:9
(a) The making of loans and mortgage loans to eligible mortgagors and eligible persons and families and the making of loans to lending institutions in each case to finance the acquisition, construction or rehabilitation of housing designed and planned, or being converted, to consist of not more than 4 family units for occupancy by eligible persons and families and of which at least one unit is occupied or is to be occupied by an eligible person or family owning the housing;
(b) The making of loans or advances with interest and whether or not secured by a mortgage to a single eligible person or family for the costs of reconstruction, rehabilitation or other improvements of existing housing owned by such single person or family and consisting of not more than 4 family units of which one is or is to be occupied by the owner, and for down payment costs, closing costs and other initial expenses of acquiring, financing or refinancing housing owned or to be owned by a single eligible person or family and consisting of not more than 4 family units of which one is or is to be occupied by the owner; the purchase of mortgages on any such housing or securing such loans or advances described above; the establishment of reserves to secure such notes and bonds, including any reserve fund created pursuant to N.H. Rev. Stat. § 204-C:40; and
(c) All other expenditures of the authority incident to and necessary or convenient to carry out the issuance of notes and bonds to provide sufficient funds for any one or more of the other purposes enumerated in this paragraph. The provisions of N.H. Rev. Stat. § 204-C:41 shall not apply with respect to any bond reserve fund established under N.H. Rev. Stat. § 204-C:40 with respect to bonds of the authority to which this paragraph applies.
III. In addition to the obligations which the authority may have outstanding under paragraphs I and II, the authority may issue notes and bonds not in excess of $600,000,000 for the purposes specified in this paragraph. Such notes and bonds shall constitute general obligations of the authority payable out of any revenue or moneys of the authority, subject only to any agreements with the holders of particular notes or bonds pledging any particular revenues. The purposes for which such notes and bonds may be issued shall be to provide sufficient funds for any purpose authorized by this chapter; such notes and bonds may, at the discretion of the authority, be subject to the provisions of N.H. Rev. Stat. § 204-C:41 with respect to any bond reserve fund established under N.H. Rev. Stat. § 204-C:40 and may, at the discretion of the authority, be subject to the provisions of N.H. Rev. Stat. § 204-C:49, II.