PUBLIC SAFETY AND WELFARE
BUSINESS FINANCE AUTHORITY REVENUE BONDS
162-I:15-a Assessment for Development in Unincorporated Places.
In an unincorporated place, the county commissioners, with the approval of the county delegation, may establish redevelopment districts to ensure that projects benefiting from the issuance of bonds guaranteed pursuant to RSA 162-I:9-a, I repay such bonds. The boundaries of the redevelopment district shall be configured so that it includes, but is limited to, all of the property available to be developed, redeveloped, or revitalized using such bonds. Every owner, tenant, or occupant of each lot or parcel located within the redevelopment district shall be subject to an assessment. The amount of the assessment shall be sufficient to provide for repayment of the debt service related to the bond. The amount of the assessment, payment terms, and method for collection shall be established in a financing plan prepared by the bond recipient, approved by the commissioner of the department of revenue administration, and adopted by the county commissioners. The financing plan shall include the delegation of collection responsibilities to the county. The county commissioners may enter into such agreements with the authority, the user, and the state as they deem necessary to ensure repayment under this chapter and to implement the financing plan and including without limitation such terms and conditions as the state shall deem necessary to provide for the segregation and pledge of the assessments to secure repayment of the bonds. The assessment shall be used solely to pay off debt service related to the bond. This payment shall be independent of, and in addition to, any other taxes including property taxes. Any unpaid assessment under this chapter shall constitute a lien pursuant to RSA 80:19 on the assessed property. Collection and enforcement of assessments under this section shall be in accordance with RSA 80:19.
Source. 2015, 47:7, eff. May 21, 2015.