RSA 35-A:27 · Additional Powers

35-A:27 Additional Powers. – In order to carry out the purposes and provisions of this chapter, the bank, in addition to any powers granted to it elsewhere in this chapter, shall have the following powers:

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I.

In connection with any loan to a governmental unit, to consider the need, desirability or eligibility of such loan, the ability of such governmental unit to secure borrowed money from other sources and the costs thereof, and the particular public improvement or purpose to be financed by the municipal bonds to be purchased by the bank;

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II.

To charge for its costs and services in review or consideration of any proposed loan to a governmental unit or purchase of municipal bonds of such governmental unit, and to charge therefor whether or not such loan shall have been made or such municipal bonds shall have been purchased;

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III.

To fix and establish any and all terms and provisions with respect to any purchase of municipal bonds by the bank, including date and maturities of such bonds, provision as to redemption or payment prior to maturity, and any and all other matters which in connection therewith are necessary, desirable or advisable in the judgment of the bank;

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IV.

To conduct examinations and hearings and to hear testimony and take proof, under oath or affirmation, at public or private hearings, on any matter material for its information and necessary to carry out the provisions of this chapter;

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V.

To issue subpoenas requiring the attendance of witnesses and the production of books and papers pertinent to any hearing before the bank, or before one or more of the directors of the bank appointed by it to conduct such hearing;

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VI.

To apply to the superior court, under the provisions of RSA 491:19-20, to have punished for contempt any witness who refuses to obey a subpoena, or who refuses to be sworn or affirmed to testify, or who is guilty of any contempt after summons to appear;

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VII.

To procure insurance against any losses in connection with its property, operations or assets in such amounts and from such insurers as it deems desirable;

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VIII.

To the extent permitted under its contracts with the holders of bonds or notes of the bank, to consent to any modification with respect to rate of interest, time and payment of any installment of principal or interest, security or any other term or bond or note, contract or agreement of any kind to which the bank is a party; and

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IX.

To make, enter into, carry out and enforce all contracts or agreements with respect to obtaining or maintaining insurance, letters or lines of credit or other credit facilities for the purpose of providing security for any bonds or notes issued by the bank or for the purpose of meeting any bond reserve fund requirement, and to pay all reimbursements, premiums, commitment fees and other fees and expenses necessary, convenient or desirable to the obtaining or maintaining of said insurance, letters or lines of credit or other credit facilities. Source. 1977, 491:1. 1988, 52:4, eff. April 4, 1988.

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