New Hampshire Revised Statutes 162-G:12-a – Covenants With Bondholders
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Terms Used In New Hampshire Revised Statutes 162-G:12-a
- Governing body: shall mean the board or body in which the general executive powers of the governmental unit are vested as defined in N. See New Hampshire Revised Statutes 162-G:3
- Governmental unit: shall mean a city or a town. See New Hampshire Revised Statutes 162-G:3
The governmental unit, by resolution of its governing body, may covenant with holders of its bonds, issued under this chapter, in such manner and to such extent as the governing body deems necessary, that the governmental unit will act in such a way as to preserve, or refrain from acting in such a way as to defeat, any exemption from federal income tax which may be applicable with respect to interest on such bonds at the time when they are issued.