New Hampshire Revised Statutes 216:11 – Administration
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I. The road maintenance endowment established by N.H. Rev. Stat. § 216:10 shall be maintained in perpetuity and shall be utilized only for the purposes of maintaining the road system acquired through the Connecticut Lakes headwaters tract purchase.
II. The principal of the endowment shall be managed by the state treasurer for the sole purpose of providing interest earnings for the purposes set forth in this subdivision and expenditures from the endowment for these purposes shall be limited to the interest earned thereon.
III. Any interest earned on the endowment principal which is not used for the purposes set forth in this subdivision within the fiscal year in which it is earned shall be nonlapsing. The state treasurer is authorized to accept gifts, donations, and grants, including federal gifts, donations, and grants, for the purposes set forth in this chapter, and such gifts, donations, and grants shall be added to the principal amount.
IV. The executive director of the fish and game department and the commissioner of the department of natural and cultural resources shall, pursuant to the road maintenance endowment established under N.H. Rev. Stat. § 216:10, I, jointly prepare an annual report to be presented no later than December 1 of each year to the speaker of the house, the president of the senate, the governor, the house clerk, the senate clerk, and the state library. The report shall include a listing of all roads subject to the maintenance provisions of N.H. Rev. Stat. § 216:10 and a complete financial accounting of the funds in the monitoring endowment including expenditures for the most recent full fiscal year. The report shall also summarize maintenance activities for the road system, as conducted in the most recent full fiscal year.
II. The principal of the endowment shall be managed by the state treasurer for the sole purpose of providing interest earnings for the purposes set forth in this subdivision and expenditures from the endowment for these purposes shall be limited to the interest earned thereon.
Terms Used In New Hampshire Revised Statutes 216:11
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- road: shall include all bridges thereon. See New Hampshire Revised Statutes 21:26
- 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. Any interest earned on the endowment principal which is not used for the purposes set forth in this subdivision within the fiscal year in which it is earned shall be nonlapsing. The state treasurer is authorized to accept gifts, donations, and grants, including federal gifts, donations, and grants, for the purposes set forth in this chapter, and such gifts, donations, and grants shall be added to the principal amount.
IV. The executive director of the fish and game department and the commissioner of the department of natural and cultural resources shall, pursuant to the road maintenance endowment established under N.H. Rev. Stat. § 216:10, I, jointly prepare an annual report to be presented no later than December 1 of each year to the speaker of the house, the president of the senate, the governor, the house clerk, the senate clerk, and the state library. The report shall include a listing of all roads subject to the maintenance provisions of N.H. Rev. Stat. § 216:10 and a complete financial accounting of the funds in the monitoring endowment including expenditures for the most recent full fiscal year. The report shall also summarize maintenance activities for the road system, as conducted in the most recent full fiscal year.