New Hampshire Revised Statutes 195-F:5 – General Power
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Terms Used In New Hampshire Revised Statutes 195-F:5
- Bank: means the New Hampshire municipal bond bank created and established by N. See New Hampshire Revised Statutes 195-F:3
- Bonds: means bonds of the bank issued pursuant to this chapter. See New Hampshire Revised Statutes 195-F:3
- Educational institution: means a public or other nonprofit institution situated within the state, which is either approved by the state board of education as a public academy under the standards pertaining to public high schools, and empowered to provide a program of education at the elementary or secondary level to students whose tuition costs are paid by the municipalities or the school districts in which the students reside, or any other institution which provides a program of education within the state which is preparatory for secondary, postsecondary, or higher education. See New Hampshire Revised Statutes 195-F:3
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Revenues: means all fees, charges, moneys, profits, payments of principal of or interest on educational institution bonds and other investments, gifts, grants, contributions, appropriations and all other income derived or to be derived by the bank under this chapter. See New Hampshire Revised Statutes 195-F:3
In addition to those powers enumerated in N.H. Rev. Stat. § 35-A:6, the bank shall have the authority to purchase or hold educational institution bonds at such prices and in such manner as the bank shall deem advisable and to sell educational institution bonds acquired or held by it at such prices without relation to cost and in such manner as the bank shall deem advisable. The bank may require the educational institution to secure the bonds as to payment of both principal and interest by a pledge of, lien upon or bond interest in, its revenues or properties, including a mortgage thereof, as the bank determines necessary to secure the payment of such bonds purchased and the interest thereon as the same become due. The bank may assign any such pledge, lien or bond interest to or for the benefit of the holders of its bonds. The bank may fix and prescribe any form of application or procedure to be required of an educational institution for the purpose of any loan or the purchase of its educational institution bonds, and to fix the terms and conditions of any such loan or purchase and to enter into agreements with educational institutions with respect to any such loan or purchase. The bank shall have the powers prescribed in N.H. Rev. Stat. § 35-A:8 with respect to bonds issued under this chapter, provided, however, that such bonds shall not be general obligations of the bank, but shall be special obligations of the bank payable only from the revenues pledged to their payment. Any pledge of revenues or moneys under this chapter shall have the same effect as a pledge under N.H. Rev. Stat. § 35-A:10.