New Hampshire § 374-D-3 - Section 374-D:3 Authorization and Issuance of Bonds.

§ 374-D-3. Section 374-D:3 Authorization and Issuance of Bonds.

I. Any municipality, when authorized by a 2/3 vote as prescribed in RSA 33, may borrow money through the issuance of bonds or notes to finance the design, development, and acquisition or construction costs, or its share of such costs, of a small scale power facility. Such costs to be financed may include the costs of all equipment necessary for the production, distribution, and transmission of electrical energy, the cost of the site of such facility, if acquired, or any lease payments required to be made before placing the facility in operation, costs for structures housing such equipment, costs for fish passageways and other measures to mitigate environmental or recreational damage, interest charges accruing before, during, and for a reasonable period after the construction of such facility, such reserves for debt service or other capital or current expenses as may be required by a trust agreement or resolution securing such notes or bonds, and all other expenses incidental to the determination of the feasibility of any small scale power facility or to the acquisition, construction, and placing of such facility in operation, or the issuance of bonds or notes to finance it. II. The vote under which bonds or notes are authorized shall state whether the principal and interest thereon is to be secured by the revenues derived from the facility or the full faith and credit and taxing power of the municipality, or both. III. The bonds or notes issued under this chapter may be in term or serial form, may mature at any time or times not exceeding 50 years from the date of issue, and may be made redeemable before maturity with or without premiums. The provisions of RSA 33:2 shall not apply to bonds issued under this chapter. All signatures required to be on such bonds or notes may be either manual or by facsimile. Such bonds or notes shall bear the seal of the municipality or a facsimile of such seal. IV. In case any officer whose signature or a facsimile of whose signature shall appear on any bonds or notes issued under this chapter shall cease to be such officer before the delivery of such bonds or notes, such signature or such facsimile shall nevertheless be valid and sufficient for all purposes, the same as if he had remained in office, until after such delivery. V. The bonds may be issued in registered or bearer form and may contain provisions for exchanging one form for the other. Subject to this chapter and the authorizing vote, the municipality may sell the bonds in such manner, either at public or private sale, for such price as the governing board may determine will best effect the purpose of this chapter. VI. Prior to the preparation of definitive bonds, the municipality may issue interim receipts or temporary bonds exchangeable for definitive bonds when such bonds shall have been executed and are available for delivery.