New Hampshire § 162-G-17 - Section 162-G:17 Water Facilities.

§ 162-G-17. Section 162-G:17 Water Facilities.

I. Any municipality or other political subdivision enabled to adopt the provisions of RSA 162-G may, by similar action, adopt the provisions of this section. Any such municipality or other political subdivision which adopts the provisions of this section may engage in projects under RSA 162-G which have as their purpose the improvement of the furnishing of water for domestic, industrial, agricultural, or other uses, if the water for such uses is to be available on reasonable demand to members of the general public. II. For the purposes of this section: "business and industrial facility" shall include and mean any facility suitable for collecting, purifying, storing, or distributing water for the aforesaid uses and shall hereinafter be called a "water facility"; "lease" shall include any conveyance or contract, however titled or described, providing for the use and operation of a water facility; "tenant" shall mean any corporation which is organized under the laws of this state for the purpose of furnishing water for any one or more of the uses described above and which is responsible for the use and operation of a water facility under a lease; and "trust indenture" shall include any conveyance, contract, or assignment to a trustee or other person to secure bonds issued to finance a water facility. A trust indenture may include a pledge of system revenues in whole or in part. A lease and a trust indenture may be combined as one instrument. III. No such municipality or other political subdivision acting by itself, or through a business and industrial development authority pursuant to RSA 162-G:15-a, shall be required hereby to have any ownership or other possessory interest in a water facility. In making findings under RSA 162-G:8 when acting under this section, the governing body, instead of making the findings required by subparagraphs I(b) and I(c) of RSA 162-G:8, shall find that the tenant has the necessary powers and franchises to construct and operate the proposed water facility and that the proposed water facility is suitable for the furnishing of water for the uses for which it is intended.