New Hampshire Revised Statutes 33:6 – Emergency Borrowing
Current as of: 2023 | Check for updates
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Terms Used In New Hampshire Revised Statutes 33:6
- governor and council: shall mean the governor with the advice and consent of the council. See New Hampshire Revised Statutes 21:31-a
- Municipality: or "municipal corporation" town, city, school district or village district. See New Hampshire Revised Statutes 33:1
- Net indebtedness: all outstanding and authorized indebtedness, heretofore or hereafter incurred by a municipality, exclusive of the following: unmatured tax anticipation notes issued according to law. See New Hampshire Revised Statutes 33:1
Upon recommendation of the commissioner of revenue administration, approved by the governor and council, municipalities and counties may, within such limits as to amount, term and rate of interest as may be prescribed by the commissioner of revenue administration, incur debt outside the debt limit prescribed by N.H. Rev. Stat. § 33:4 for purposes made necessary by war or other national or local disaster or emergency. Such debt shall at no time be included in the net indebtedness of the municipality or county for the purpose of determining its borrowing capacity.