New Hampshire Revised Statutes 6:13-b – Highway Fund
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Terms Used In New Hampshire Revised Statutes 6:13-b
- governor and council: shall mean the governor with the advice and consent of the council. See New Hampshire Revised Statutes 21:31-a
- 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
When it is anticipated that there will not be sufficient highway funds in the treasury for the payment of obligations, the treasurer under the direction of the governor and council is authorized to borrow on the state‘s credit for a period of not more than one year, at the lowest net interest cost to the state, such sums as may be necessary, provided that at no time shall the indebtedness of the state pursuant to the authority granted by this section exceed the sum of $15,000,000. The short term loans authorized hereunder shall be repaid from highway income or from federal reimbursement for highway purposes.