New Hampshire Revised Statutes 31:94-d – Debt During Transition Period
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Towns, cities, and counties which have adopted the provisions of N.H. Rev. Stat. § 31:94-a may incur debt under the provisions of N.H. Rev. Stat. Chapter 33 in an amount not to exceed
1/3 of all taxes assessed on April 1 of the year following adoption of N.H. Rev. Stat. § 31:94-a, excluding payments upon outstanding debts, said debt to be discharged in not more than 20 years. For the purposes of this section, taxes assessed shall include all taxes reimbursed to the town, city or county in accordance with the provisions of RSA 31-A. Debt incurred pursuant to this section shall not be included in the debt limit of the town, city or county, and the funds borrowed pursuant to this section shall be used only to defray additional costs that result from the adoption of an 18 month transitional accounting period.
1/3 of all taxes assessed on April 1 of the year following adoption of N.H. Rev. Stat. § 31:94-a, excluding payments upon outstanding debts, said debt to be discharged in not more than 20 years. For the purposes of this section, taxes assessed shall include all taxes reimbursed to the town, city or county in accordance with the provisions of RSA 31-A. Debt incurred pursuant to this section shall not be included in the debt limit of the town, city or county, and the funds borrowed pursuant to this section shall be used only to defray additional costs that result from the adoption of an 18 month transitional accounting period.
Terms Used In New Hampshire Revised Statutes 31:94-d
- following: when used by way of reference to any section of these laws, shall mean the section next preceding or following that in which such reference is made, unless some other is expressly designated. See New Hampshire Revised Statutes 21:13
- month: shall mean a calendar month, and the word "year" a calendar year, unless otherwise expressed; and the word "year" shall be equivalent to the expression "year of our Lord. See New Hampshire Revised Statutes 21:8