RSA 162-G:7-a · Authority Bonds

162-G:7-a Authority Bonds. –

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I.

A business and industrial development authority established under RSA 162-G:15-a may issue bonds to pay project costs or to reimburse a tenant for payments for project costs made before or after the bonds are issued or to refund bonds previously issued.

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II.

Bonds shall bear the manual signature of the chairman of the board and the manual or facsimile signature of at least one other member of the board; and interest coupons, if any, shall bear the facsimile signature of the chairman. Bonds shall also bear the seal of the authority or a facsimile of the seal. Bonds executed as herein provided shall be valid notwithstanding that before the delivery thereof and payment therefor any or all of the persons whose signatures appear thereon shall have ceased to hold office.

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III.

Every bond shall bear a statement on its face that it does not constitute an indebtedness of any governmental unit or any authority except to the extent permitted by this chapter. Bonds may be sold at public or private sale. The price at which bonds are sold may be par or may be more or less than par, but the original purchaser thereof shall be obligated to pay accrued interest for the period, if any, from the date of the bonds to the date of delivery. All bonds issued under this section and interest coupons applicable thereto, if any, shall be deemed to be negotiable instruments and to be investment securities under the uniform commercial code. Source. 1975, 481:4. 1994, 331:8. 2000, 161:1, eff. July 22, 2000.

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