CHAPTER 195-F NEW HAMPSHIRE MUNICIPAL BOND BANK EDUCATIONAL INSTITUTIONS BOND FINANCING ACT
Section 195-F:3
195-F:3 Definitions. –
As used in this chapter:
I. "Bank" means the New Hampshire municipal bond bank created and established by RSA 35-A:4.
II. "Bonds" means bonds of the bank issued pursuant to this chapter.
III. "Educational institution" means a public or other nonprofit institution situated within the state, which is either approved by the state board of education as a public academy under the standards pertaining to public high schools, and empowered to provide a program of education at the elementary or secondary level to students whose tuition costs are paid by the municipalities or the school districts in which the students reside, or any other institution which provides a program of education within the state which is preparatory for secondary, postsecondary, or higher education.
IV. "Educational institution project or improvement" means any structure designed for use as a dining facility, academic building, administrative facility, library, research facility, faculty office facility, athletic facility, first-aid room or its equivalent, laboratory, maintenance, storage or utility facility, or any multi-purpose structure designed to combine 2 or more of the functions performed by the types of structures enumerated above, and shall include all real and personal property, lands, improvements, driveways, roads, approaches, pedestrian access roads, rights-of-way, utilities, easements, machinery and equipment, and all other appurtenances and facilities either on, above or under the ground which are used or usable in connection with any of the above mentioned structures, and shall also include landscaping, site preparation, furniture, machinery, equipment and other similar items necessary or convenient for the operation of a particular facility or structure in the manner for which its use is intended, but shall not include such items as books, fuel, supplies, or other items which are customarily considered as a current operating charge.
V. "Educational institution bond" means a bond or note or other evidence of debt issued by an educational institution and payable from the revenues of such educational institution and secured by the revenues, the mortgage, the full faith and credit of an educational institution or any other lawfully pledged security of an educational institution, including a pledge of revenues to be received by the educational institution pursuant to agreements between the educational institution and school districts entered into pursuant to RSA 194:22.
VI. "Educational institution general fund" means the fund created or established as provided in RSA 195-F:7.
VII. "Educational institution reserve fund" means any of the educational institution reserve funds created or established as provided in RSA 195-F:6.
VIII. "Fully marketable form" means an educational institution bond duly executed and accompanied by such opinion of counsel and other documentation as is customary in the field of educational institution financing, provided that the educational institution bond so executed need not be printed or lithographed nor be in more than one denomination.
IX. "Notes" means any notes of the bank issued pursuant to this chapter.
X. "Revenues" means all fees, charges, moneys, profits, payments of principal of or interest on educational institution bonds and other investments, gifts, grants, contributions, appropriations and all other income derived or to be derived by the bank under this chapter.
Source. 1982, 5:1. 1998, 69:1, eff. July 11, 1998.