New Hampshire § 374-E-12 - Section 374-E:12 General Fund.

§ 374-E-12. Section 374-E:12 General Fund.

I. The bond bank shall establish and maintain in and for the division a fund called the "small scale power facility bond general fund" which shall consist of and in which there shall be deposited: (a) Fees received or charges made by the division for use of its services or facilities; (b) Any moneys which the division shall transfer from any small scale power facility bond reserve fund under RSA 374-E:11, III; (c) Moneys received by the division as payment of principal of or interest on municipal small scale power facility bonds purchased by the division, proceeds of sale of any municipal small scale power facility bonds purchased by the division, proceeds of sale of any municipal small scale power facility bonds or other investment of the division, or proceeds of sale of bonds or notes of the division and required under the terms of any resolution of the division or contract with the holders of its bonds or notes to be deposited in such fund; (d) Any moneys required under the terms of a resolution of the division or contract with the holders of its bonds or notes to be deposited in such fund; and (e) Any moneys transferred to such fund from any other fund or made available for the purpose of the fund by the state or for the operating expenses of the division. Any such moneys in the small scale power facility general fund may, subject to any contracts between the division and its holders of bonds or notes issued under this chapter, be transferred to any small scale power facility bond reserve fund, or if not so transferred, may be used for the payment of the principal of or interest on bonds or notes of the division when they shall become due and payable, whether at maturity or upon redemption, including payment of any premium upon redemption before maturity. Any moneys in the small scale power facility general fund may be used for the purchase of municipal small scale power facility bonds and for all other purposes of the division, including payment of its operating expenses. II. No amount shall be paid or expended out of the small scale power facility general fund or from any account in such fund for operating expenses of the division in any year, in excess of the amount provided for the operating expenses of the division by the annual budget then in effect with respect to such year or any amendment of such budget in effect at the time of such payment or expenditure for operating expenses. III. The bond bank may create and establish for the division in the small scale power facility general fund such accounts, subaccounts, or special accounts which, in the opinion of the division, are necessary, desirable, or convenient for its purposes under this chapter.