New Hampshire Revised Statutes 162-G:11 – Trust Funds
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Terms Used In New Hampshire Revised Statutes 162-G:11
- 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
- Lease: means :
(a) In the case where the authority is the lessor, "lease" shall mean a written instrument to which the authority and a tenant are parties and which provides for the use and occupancy of a business and industrial facility and the payment of rent to the authority. See New Hampshire Revised Statutes 162-G:3 - Trust indenture: shall mean a written instrument between the governmental unit and any national bank or trust company doing business in the state of New Hampshire or in the Commonwealth of Massachusetts as trustee, which secures one or more series of bonds. See New Hampshire Revised Statutes 162-G:3
All moneys received or held pursuant to a lease or a trust indenture shall be deemed to be trust funds to be held and applied solely in accordance with the lease or the trust indenture.