New Hampshire § 237-40 - Section 237:40 Tolls.

§ 237-40. Section 237:40 Tolls.

The commissioner of transportation, with the approval of the governor and council, shall establish toll rates and other charges for use of the central New Hampshire turnpike or any part of the right-of-way and other property acquired in connection therewith. The governor and council shall approve or reject the commissioner's proposed toll rates and other charges within 90 days of receiving them. The tolls collected shall be deposited with the state treasurer who shall keep the same in a separate account, and the operating expenses and maintenance of the turnpike shall be paid from said account. From the balance remaining after payment of operation and maintenance, the governor, with the approval of the council, shall pay the interest and principal on the bonds hereunder. Fourteen days previous to the time said interest and principal are payable, the state treasurer shall examine the existing balance and if such balance is insufficient to make the payment, then he shall notify the governor who shall immediately draw his warrant on the highway fund to cover any deficit, and, if the funds in both of the above accounts are insufficient, the governor shall draw his warrant upon the state's general fund to the amount necessary to meet the payments. The full faith and credit of the state is pledged to the payment of the principal of and the interest on the bonds as they become due and payable. Any funds paid out from the state's general fund for the above purposes shall be reimbursed from the collection of tolls as soon as such funds are available. Any funds that have been or may be expended for the completion of the turnpike by the department of transportation shall be repaid to said department when, in the opinion of the governor and council, sufficient funds are available. Any excess income may be used for further turnpike extensions in accordance with RSA 237:34, XIII. During the construction of the turnpike the governor may, if necessary, draw his warrant upon the highway fund to pay interest due on any bonds that have been issued in accordance with the provisions of this subdivision; such payment is to be repaid to the highway fund from the collection of tolls.