PUBLIC SAFETY AND WELFARE
BUSINESS FINANCE AUTHORITY REVENUE BONDS
162-I:10 Obligations of the State.
I. No financing or security document, bond or other instrument shall in any way obligate the state to raise any money by taxation or use other public funds for any purpose in relation to an eligible facility, and neither the state nor the authority shall pay or promise to pay any debt or meet any financial obligation to any person at any time in relation to an eligible facility financed in whole or in part by the issue of bonds except:
(a) From moneys received or to be received under the provisions of a financing or security document entered into under this chapter or derived from the exercise of the authority's rights under those instruments;
(b) As permitted by RSA 162-I:9, RSA 162-I:9-a, or RSA 162-I:9-b; or
(c) As may be required by law other than the provisions of this chapter.
II. Notwithstanding paragraph I, the authority may accept and expend with respect to an eligible facility any gifts or grants received from any source in accordance with the terms of the gifts or grants. Bonds issued under this chapter shall not be deemed obligations of the authority for the purposes of RSA 162-A:12.
Source. 1975, 98:1. 1981, 213:10; 455:9. 1992, 46:5; 262:6, eff. May 15, 1992.