204-C:41 Requests for Appropriations. –
I. To assure the continued operation and solvency of the authority for the carrying out of its corporate purposes, the chairperson of the authority shall, not later than the twentieth legislative day of each session of the general court, submit to the chairperson of the house finance committee a written request for an appropriation for the sum, if any, required to insure that the bond reserve funds established under RSA 204-C:40 equal the bond reserve fund requirement. All sums appropriated by the general court, if any, paid to the authority pursuant to this section shall be deposited by the authority in the bond reserve fund.
II. All amounts paid over to the authority by the state pursuant to this section shall constitute and be accounted for as advances by the state to the authority and, subject to the rights of the holders of any bonds or notes of the authority theretofore or thereafter issued, shall be repaid to the state without interest from all available operating revenues of the authority in excess of amounts required for the payment of obligations of the authority, the bond reserve funds and operating expenses.
Source. 1981, 466:2. 1995, 9:25, eff. June 11, 1995.