PUBLIC UTILITY BOND FINANCING
374-C:4 General Power.
In addition to those powers enumerated in RSA 35-A:6, the bank shall have the authority to purchase or hold public utility bonds at such prices and in such manner as the bank shall deem advisable and to sell public utility bonds acquired or held by it at such prices without relation to cost and in such manner as the bank shall deem advisable. The bank may require the public utility to secure the bonds as to payment of both principal and interest by a pledge of, lien upon or bond interest in, its revenues or properties, including a mortgage thereof under RSA 369:2, as the bank determines necessary to secure the payment of such bonds purchased and the interest thereon as the same become due. The bank may assign any such pledge, lien or bond interest to or for the benefit of the holders of its bonds. The bank may fix and prescribe any form of application or procedure to be required of a public utility for the purpose of any loan or the purchase of its utility bonds, and to fix the terms and conditions of any such loan or purchase and to enter into agreements with public utilities with respect to any such loan or purchase. The bank shall have the powers prescribed in RSA 35-A:8 with respect to bonds issued under this chapter; provided, however, that such bonds shall not be general obligations of the bank, but shall be special obligations of the bank payable only from the revenues pledged to their payment. Any pledge of revenues or moneys under this chapter shall have the same effect as a pledge under RSA 35-A:10.
Source. 1979, 498:2. 1981, 315:7, eff. Aug. 16, 1981.