New Hampshire Revised Statutes 195-D:5 – General Grant of Powers
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The corporation has the following powers, together with all powers incidental thereto or necessary for the performance of those hereinafter stated:
I. To have perpetual succession as a public body corporate and agency of the state and to adopt bylaws for the regulation of its affairs and the conduct of its business;
II. To sue and be sued, plead and be impleaded;
III. To adopt an official seal and alter the same at pleasure;
IV. To maintain an office at such place or places as it may designate;
V. To determine the location and character of any project to be financed under the provisions of this chapter, and to construct, reconstruct, maintain, repair, operate, lease, as lessee or lessor, and regulate the same; to enter into contracts for any or all of such purposes; to enter into contracts for the management and operation of a project; and to designate a participating institution as its agent to determine the location and character of a project undertaken by such participating institution under the provisions of this chapter as its agent to construct, reconstruct, maintain, repair, operate, lease, as lessee or lessor, and regulate the same; and as its agent to enter into contracts for any or all of such purposes, including contracts for the management and operation of such projects;
VI. To issue bonds, bond anticipation notes and other obligations of the corporation for any of its corporate purposes, and to fund or refund the same, all as provided in this chapter;
VII. Generally, to fix and revise from time to time and charge and collect rates, rents, fees and charges for the use of and for the services furnished or to be furnished by a project or any portion thereof; and to contract with any person, partnership, association or corporation or other body, public or private, in respect thereof and to designate a participating institution as its agent to fix, revise, charge and collect such rates, rents, fees and charges and to make such contracts;
VIII. To establish rules and regulations for the use of a project or any portion thereof and to designate a participating institution as its agent to establish rules and regulations for the use of a project undertaken by such participating institution;
IX. To employ consulting engineers, architects, attorneys, accountants, construction and financial experts, superintendents, managers, and such other employees and agents as are necessary in its judgment, and to fix their compensation;
X. To receive and accept from any public agency loans or grants for or in aid of the construction of a project or any portion thereof, and to receive and accept loans, grants, aid, or contributions from any source of either money, property, labor, or other things of value, to be held, used, and applied only for the purposes for which such loans, grants, aid, and contributions are made;
XI. To mortgage any project and the site thereof for the benefit of the holders of revenue bonds issued to finance the project;
XII. To make loans to any participating institution for the construction of a project in accordance with an agreement between the corporation and the participating institution. However, no such loan shall exceed the total cost of construction and equipment of the project as determined by the participating institution and approved by the corporation;
XIII. To acquire any federally guaranteed security with respect to the financing of a project or the refinancing of existing indebtedness and to pledge or otherwise use such federally guaranteed security in such manner as the corporation deems necessary or appropriate to secure or otherwise provide a source of repayment on any of its bonds or notes or to enter into any appropriate agreement with a participating institution whereby the corporation may make a loan to such participating institution for the purpose of acquiring and entering into commitments to acquire any federally guaranteed security with respect to financing of a project or the refinancing of existing indebtedness; provided, however, that the corporation, prior to making any such acquisition, commitment or loan with respect to financing a project, shall first determine, and thereafter shall enter into an agreement with any such participating institution to require, that the proceeds derived from the acquisition of any such federally guaranteed security will be used for the purpose of providing for a project;
XIV. To charge to and equitably apportion between participating institutions its administrative costs and expenses incurred in the exercise of the powers and duties conferred by this chapter;
XV. To accept any gifts or grants or loans of funds or property or financial or other aid in any form from the federal government or any agency or instrumentality thereof or from the state or any agency or instrumentality thereof or from any other source, and to comply, subject to the provisions of this chapter, with the terms and conditions thereof;
XVI. To do all things necessary or convenient to carry out the purposes of this chapter; and
XVII. To provide for the refinancing of existing indebtedness or to make loans to a participating institution for the purpose of providing for the refinancing of existing indebtedness or repaying advances made or given by such participating institution with respect to the acquisition or construction of a project.
XVIII. Before the university system of New Hampshire or any of its components may participate in any of the provisions of this chapter, each project must receive the approval of the capital project overview committee of the general court and the approval of the governor.
XIX. To protect, indemnify, and hold harmless its members of the board of directors, officers and employees from any costs, damages, awards, judgments, or settlements arising from any claim, civil action, lawsuit, or other proceeding against them.
I. To have perpetual succession as a public body corporate and agency of the state and to adopt bylaws for the regulation of its affairs and the conduct of its business;
Terms Used In New Hampshire Revised Statutes 195-D:5
- Bonds: or the words "revenue bonds" means revenue bonds of the corporation issued under the provisions of this chapter, including revenue refunding bonds, notwithstanding that the same may be secured by the mortgage or the full faith and credit of a participating educational institution or of a participating health care institution or any other lawfully pledged security of a participating educational institution or of a participating health care institution. See New Hampshire Revised Statutes 195-D:3
- Contract: A legal written agreement that becomes binding when signed.
- 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.
- Corporation: means the New Hampshire health and education facilities authority created and established as a corporation and constituted and established as a public body corporate and agency of the state under N. See New Hampshire Revised Statutes 195-D:3
- Cost: as applied to a project or any portion thereof financed under the provisions of this chapter shall mean the cost of construction, building, acquisition, equipping, alteration, enlargement, reconstruction and remodeling of a project and acquisition of all lands, structures, property, real or personal, rights, rights-of-way, franchises, easements, and interests acquired, necessary, used for, or useful for or in connection with a project and all other undertakings which the corporation deems reasonable or necessary for the development of a project, including but not limited to the cost of demolishing or removing any buildings or structures on land so acquired, the cost of acquiring any lands to which such buildings or structures may be moved, the cost of all machinery and equipment, financing charges, interest prior to and during construction, and if judged advisable by the corporation, for a period after completion of such construction the cost of financing the project, including interest on bonds and notes issued by the corporation to finance the project. See New Hampshire Revised Statutes 195-D:3
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Federally guaranteed security: means any security, investment or evidence of indebtedness which is issued pursuant to the national housing act or any successor provision of law, each as amended from time to time, and which is either, directly or indirectly, insured or guaranteed, in whole or in part, as to the repayment of principal and interest by the United States of America or any instrumentality thereof. See New Hampshire Revised Statutes 195-D:3
- 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
- Lawsuit: A legal action started by a plaintiff against a defendant based on a complaint that the defendant failed to perform a legal duty, resulting in harm to the plaintiff.
- 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
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Participating institution: means a participating educational institution or a participating health care institution. See New Hampshire Revised Statutes 195-D:3
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- person: may extend and be applied to bodies corporate and politic as well as to individuals. See New Hampshire Revised Statutes 21:9
- Refinancing of existing indebtedness: means (a) liquidation, with the proceeds of bonds or notes issued by the corporation, of any indebtedness of a participating institution incurred to finance or aid in financing a lawful purpose of such participating institution which would constitute a project had it been undertaken and financed by the corporation; or (b) consolidation of such indebtedness with indebtedness of the corporation incurred for a project of such participating institution; or (c) purchase of a federally guaranteed security issued with respect to the financing of a lawful purpose of a participating institution which would constitute a project had it been undertaken and financed by the corporation. See New Hampshire Revised Statutes 195-D:3
- revenue bonds: means revenue bonds of the corporation issued under the provisions of this chapter, including revenue refunding bonds, notwithstanding that the same may be secured by the mortgage or the full faith and credit of a participating educational institution or of a participating health care institution or any other lawfully pledged security of a participating educational institution or of a participating health care institution. See New Hampshire Revised Statutes 195-D:3
- seal: shall include an impression of the official seal made upon the paper alone, as well as an impression thereof made by means of wax, or a wafer, affixed thereto. See New Hampshire Revised Statutes 21:11
- 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
II. To sue and be sued, plead and be impleaded;
III. To adopt an official seal and alter the same at pleasure;
IV. To maintain an office at such place or places as it may designate;
V. To determine the location and character of any project to be financed under the provisions of this chapter, and to construct, reconstruct, maintain, repair, operate, lease, as lessee or lessor, and regulate the same; to enter into contracts for any or all of such purposes; to enter into contracts for the management and operation of a project; and to designate a participating institution as its agent to determine the location and character of a project undertaken by such participating institution under the provisions of this chapter as its agent to construct, reconstruct, maintain, repair, operate, lease, as lessee or lessor, and regulate the same; and as its agent to enter into contracts for any or all of such purposes, including contracts for the management and operation of such projects;
VI. To issue bonds, bond anticipation notes and other obligations of the corporation for any of its corporate purposes, and to fund or refund the same, all as provided in this chapter;
VII. Generally, to fix and revise from time to time and charge and collect rates, rents, fees and charges for the use of and for the services furnished or to be furnished by a project or any portion thereof; and to contract with any person, partnership, association or corporation or other body, public or private, in respect thereof and to designate a participating institution as its agent to fix, revise, charge and collect such rates, rents, fees and charges and to make such contracts;
VIII. To establish rules and regulations for the use of a project or any portion thereof and to designate a participating institution as its agent to establish rules and regulations for the use of a project undertaken by such participating institution;
IX. To employ consulting engineers, architects, attorneys, accountants, construction and financial experts, superintendents, managers, and such other employees and agents as are necessary in its judgment, and to fix their compensation;
X. To receive and accept from any public agency loans or grants for or in aid of the construction of a project or any portion thereof, and to receive and accept loans, grants, aid, or contributions from any source of either money, property, labor, or other things of value, to be held, used, and applied only for the purposes for which such loans, grants, aid, and contributions are made;
XI. To mortgage any project and the site thereof for the benefit of the holders of revenue bonds issued to finance the project;
XII. To make loans to any participating institution for the construction of a project in accordance with an agreement between the corporation and the participating institution. However, no such loan shall exceed the total cost of construction and equipment of the project as determined by the participating institution and approved by the corporation;
XIII. To acquire any federally guaranteed security with respect to the financing of a project or the refinancing of existing indebtedness and to pledge or otherwise use such federally guaranteed security in such manner as the corporation deems necessary or appropriate to secure or otherwise provide a source of repayment on any of its bonds or notes or to enter into any appropriate agreement with a participating institution whereby the corporation may make a loan to such participating institution for the purpose of acquiring and entering into commitments to acquire any federally guaranteed security with respect to financing of a project or the refinancing of existing indebtedness; provided, however, that the corporation, prior to making any such acquisition, commitment or loan with respect to financing a project, shall first determine, and thereafter shall enter into an agreement with any such participating institution to require, that the proceeds derived from the acquisition of any such federally guaranteed security will be used for the purpose of providing for a project;
XIV. To charge to and equitably apportion between participating institutions its administrative costs and expenses incurred in the exercise of the powers and duties conferred by this chapter;
XV. To accept any gifts or grants or loans of funds or property or financial or other aid in any form from the federal government or any agency or instrumentality thereof or from the state or any agency or instrumentality thereof or from any other source, and to comply, subject to the provisions of this chapter, with the terms and conditions thereof;
XVI. To do all things necessary or convenient to carry out the purposes of this chapter; and
XVII. To provide for the refinancing of existing indebtedness or to make loans to a participating institution for the purpose of providing for the refinancing of existing indebtedness or repaying advances made or given by such participating institution with respect to the acquisition or construction of a project.
XVIII. Before the university system of New Hampshire or any of its components may participate in any of the provisions of this chapter, each project must receive the approval of the capital project overview committee of the general court and the approval of the governor.
XIX. To protect, indemnify, and hold harmless its members of the board of directors, officers and employees from any costs, damages, awards, judgments, or settlements arising from any claim, civil action, lawsuit, or other proceeding against them.