RSA 195-D:5 · General Grant of Powers

195-D:5 General Grant of Powers. – The corporation has the following powers, together with all powers incidental thereto or necessary for the performance of those hereinafter stated:

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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;

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II.

To sue and be sued, plead and be impleaded;

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III.

To adopt an official seal and alter the same at pleasure;

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IV.

To maintain an office at such place or places as it may designate;

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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;

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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;

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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;

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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;

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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;

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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;

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XI.

To mortgage any project and the site thereof for the benefit of the holders of revenue bonds issued to finance the project;

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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;

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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;

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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;

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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;

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XVI.

To do all things necessary or convenient to carry out the purposes of this chapter; and

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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.

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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.

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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. Source. 1969, 318:1. 1970, 16:11-16. 1979, 384:4, 5. 1986, 151:2. 1991, 298:3. 1994, 86:2, eff. July 5, 1994. 2023, 192:4, eff. Aug. 4, 2023.

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