PUBLIC SAFETY AND WELFARE
BUSINESS FINANCE AUTHORITY REVENUE BONDS
I. Bonds authorized under this chapter may be issued:
(a) In one or more series of one or more denominations and bearing one or more rates of interest;
(b) In bearer form or registered form with or without privileges of conversion and reconversion from one form to the other;
(c) Payable in serial installments or as term bonds, and any series may consist of both types of bond, provided that all of the bonds of every series shall mature no later than 40 years after their dates; and
(d) Subject to redemption prior to maturity, with or without the payment of any redemption premium, in accordance with the provisions of the security document.
II. Every bond shall be signed on behalf of the authority by 2 persons designated by the board. Any person so designated shall be a member of the board, or the executive director, senior credit officer, or the chief financial officer of the authority. Each such signature may be manual or facsimile but at least one signature on every bond shall be manual, unless the bond bears a manual authentication or certification by a bank, trust company or other financial institution described in RSA 162-I:12, in which case each signature on behalf of the authority may be facsimile. Interest coupons, if any, shall bear the facsimile signature of one of the persons signing the bond on behalf of the authority. Bonds shall also bear the seal of the authority or a facsimile of the seal. Bonds executed as provided in this paragraph shall be valid notwithstanding that any or all of the persons whose signatures appear on the bond shall have ceased to hold office before delivery of and payment for the bond.
III. Every bond shall bear a statement on its face that it does not constitute an indebtedness of the state or the authority except to the extent permitted by this chapter. Bonds may be sold at public or private sale. The price at which bonds are sold may be par or may be more or less than par, but the original purchaser thereof shall be obligated to pay accrued interest for the period, if any, from the date of the bonds to the date of delivery. All bonds issued under this chapter and interest coupons applicable thereto, if any, shall be deemed to be negotiable instruments and to be investment securities under RSA 382-A.
IV. No purchaser of bonds shall in any way be bound to see to the proper application of the proceeds thereof.
V. The signature of the state treasurer on an endorsement of a state guarantee of a bond may be manual or facsimile.
Source. 1975, 98:1. 1981, 213:8. 1985, 357:12. 1992, 46:4; 262:5. 1997, 329:13, eff. Oct. 1, 1997.