New Hampshire Revised Statutes 204-C:44 – Credit of State Not Pledged
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Terms Used In New Hampshire Revised Statutes 204-C:44
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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
- 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
Obligations issued under this chapter shall not be deemed to constitute a debt or liability or obligation of the state or of any political subdivision of the state, or a pledge of the faith and credit of the state or of any political subdivision of the state, but shall be payable solely from the revenues or assets of the authority. All such obligations issued under this chapter shall contain on their face a statement to the effect that the authority shall not be obligated to pay the same nor the interest on such obligations except from the revenues or assets pledged for them and that neither the faith and credit nor the taxing power of the state or of any political subdivision of the state is pledged to the payment of the principal of or the interest on such notes and bonds. The issuance of obligations under this chapter shall not directly or indirectly or contingently obligate the state or any political subdivision of the state to levy or to pledge any form of taxation whatever for such obligations or to make any appropriation for their payment.