TOWNS, CITIES, VILLAGE DISTRICTS, AND UNINCORPORATED PLACES
MUNICIPAL FINANCE ACT
33:3-f State Guarantee.
I. The governor and council may award an unconditional state guarantee of the principal of and interest on bonds issued under RSA 33:3-e. The full faith and credit of the state shall be pledged for any such guarantees of principal and interest. The principal amount of the bonds guaranteed under this section shall not exceed $20,000,000.
II. The total amount awarded under RSA 33:3-e and this section to any one superfund site, however, shall not exceed $10,000,000, plus interest. The governor, with the advice and consent of the council, is authorized to draw his warrant for such a sum out of any money in the treasury not otherwise appropriated, for the purpose of honoring any guarantee awarded under this section. The state's guarantee shall be evidenced on each guaranteed bond by an endorsement signed by the state treasurer in substantially the following form:
The state of New Hampshire hereby unconditionally guarantees the payment of the whole of the principal and interest thereon of the within bond and for the performance of such guarantee the full faith and credit of the state are pledged.
III. In connection with the award of a state guarantee, the governor and council may impose such terms and conditions as they may deem appropriate concerning the bonds and such terms and conditions as they may deem appropriate concerning reimbursement to the state if any state funds are used to honor the guarantee. Such terms and conditions may be contained in an agreement between the state and the municipality, to be executed on behalf of the state by the governor and the state treasurer and on behalf of the municipality by its governing body.
IV. Nothing in this subdivision shall be construed to affect in any way the ultimate liability of any party, under state or federal law, for hazardous waste cleanup costs.
Source. 1992, 275:2, eff. May 18, 1992. 2008, 49:4, eff. July 1, 2008.