PUBLIC SAFETY AND WELFARE
BUSINESS FINANCE AUTHORITY REVENUE BONDS
162-I:3 Powers of the Authority.
I. The authority shall have the following powers in addition to any other powers conferred upon it:
(a) To engage in projects, to acquire and dispose of ownership or possessory interests in eligible facilities and related property within the state.
(b) To issue bonds:
(1) To pay project costs;
(2) To reimburse a user or a related person for payments for project costs made before or after the bonds are issued; or
(3) To refund, refinance, or acquire indebtedness previously issued by or on behalf of the authority, a user, or a related person.
(c) To execute financing documents and security documents and perform obligations and exercise powers created by the documents.
(d) In the event of default by a user under a financing document, but only to the extent authorized by the financing document or security document, to dispose of all or part of the eligible facility by sale or otherwise for the benefit of the bondholders under the security documents.
(e) To make contracts or take any other action which is necessary or desirable in connection with the exercise of the powers granted under this section.
(f) To take all actions necessary or appropriate in its administration of the intrastate energy pipeline facility revolving loan fund established in this chapter, including, but not limited to, underwriting loan applications and exercising any of the other powers granted to the authority under this section or elsewhere.
II. The authority may authorize its officers to take such actions as may be reasonably necessary to carry out its powers. The authority may from time to time by resolution delegate to the chairman, vice chairman, or executive director, or any combination of these officers, the power to grant waivers and consents, approve amendments, and take all other actions with respect to financing documents, security documents, and other documents pertaining to bonds previously issued by the authority; provided, however, that all such actions shall be consistent with the findings and approval of the governor and council made under RSA 162-I:9 and with the purposes of this chapter.
Source. 1975, 98:1. 1981, 213:3. 1987, 351:1. 1995, 128:14. 1998, 265:3, eff. Aug. 25, 1998.