RSA 33:3 · Purpose of Issue of Bonds or Notes

33:3 Purpose of Issue of Bonds or Notes. –
A municipality or county may issue its bonds or notes for the acquisition of land, for economic development, for planning relative to public facilities, for the construction, reconstruction, alteration, and enlargement or purchase of public buildings, for other public works or improvements, or for the financing of improvements, of a permanent nature including broadband infrastructure as defined in RSA 38:38, I(e), to serve any location within a municipality unserved by broadband as defined in RSA 38:38, I(c) for the purchase of departmental equipment of a lasting character, and for the payment of judgments. The issuance of such bonds or notes shall include, but not be limited to, public-private partnerships involving capital improvements, loans, financing, and guarantees. The public benefit in any public-private partnership must outweigh any benefit accruing to a private party. Bonds or notes for the purposes of economic development may be issued only after the governing body of the municipality or county has held hearings and presented the public benefit findings to the public and after such issuance has been approved by the legislative body. A municipality or county shall not issue bonds or notes to provide for the payment of expenses for current maintenance and operation except as otherwise specifically provided by law.
Source. 1917, 129:5, 6. PL 59:5, 6. RL 72:5, 6. 1953, 258:1. RSA 33:3. 1971, 34:1, eff. May 31, 1971. 1996, 55:1, eff. June 23, 1996. 2006, 225:1, eff. July 31, 2006. 2018, 118:2, eff. July 29, 2018.