New Hampshire Revised Statutes 12-L:15 – Discovery Center Equipment, Software, Buildings, and Grounds
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I. Ownership of the discovery center equipment, software, buildings, and grounds shall be retained by the state.
II. The state shall retain responsibility for all debt service incurred by the discovery center prior to January 1, 2013.
III. The state shall assume buildings and grounds routine maintenance and repair costs up to an amount appropriated by the general court, which shall not exceed $70,000 annually.
IV. The state shall enter into a 10-year, renewable lease with the corporation to occupy and operate the discovery center buildings and grounds and utilize the equipment and software beginning on January 1, 2013, at a charge of $1 per year. Either party may terminate this lease with 90 days notice if the other party fails to make a good faith effort to meet all of its obligations under RSA 12-L.
II. The state shall retain responsibility for all debt service incurred by the discovery center prior to January 1, 2013.
Terms Used In New Hampshire Revised Statutes 12-L:15
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- state: when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4
III. The state shall assume buildings and grounds routine maintenance and repair costs up to an amount appropriated by the general court, which shall not exceed $70,000 annually.
IV. The state shall enter into a 10-year, renewable lease with the corporation to occupy and operate the discovery center buildings and grounds and utilize the equipment and software beginning on January 1, 2013, at a charge of $1 per year. Either party may terminate this lease with 90 days notice if the other party fails to make a good faith effort to meet all of its obligations under RSA 12-L.