New Hampshire Revised Statutes 204-C:79 – Guarantee; Credit of State Pledged
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Terms Used In New Hampshire Revised Statutes 204-C:79
- 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
- governor and council: shall mean the governor with the advice and consent of the council. See New Hampshire Revised Statutes 21:31-a
- 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
The full faith and credit of the state is pledged to support and redeem the certificates of guarantee issued by the authority. In furtherance of that pledge, the state treasurer shall advance to the authority from available cash in the treasury or from proceeds of bonds or notes of the state issued pursuant to this subdivision, such amounts as may be requested from time to time by the authority to enable it to perform all guarantee obligations punctually and in accordance with their terms. The authority shall request such advances from time to time as additional amounts are required for such purpose. The treasurer shall, subject to the approval of the governor and council, issue full faith and credit bonds of the state from time to time in amounts equal to advances made under this subdivision, and borrow in anticipation of the proceeds of such bonds. The obligation of the state under the provision of this section shall at no time exceed the amount of $300,000.