New Hampshire § 228:26 Borrowing Authorized

New Hampshire Statutes

§ 228:26 — Borrowing Authorized

New Hampshire·Title XX TRANSPORTATION·Ch. 228 ADMINISTRATION OF TRANSPORTATION LAWS·Subdivision Commissioner, Deputy and Assistant Commissioners

If the moneys in the highway fund are not sufficient to provide the funds authorized by RSA 228:25, the treasurer is authorized to borrow on the state's credit at the lowest rate of interest obtainable, such sums as may be necessary to provide said funds; provided, that at no time shall the indebtedness of the state pursuant to this section exceed $1,000,000; and provided further, that such indebtedness shall be repaid from revenues within 3 years.

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If the moneys in the highway fund are not sufficient to provide the funds authorized by RSA 228:25, the treasurer is authorized to borrow on the state's credit at the lowest rate of interest obtainable, such sums as may be necessary to provide said funds; provided, that at no time shall the indebtedness of the state pursuant to this section exceed $1,000,000; and provided further, that such indebtedness shall be repaid from revenues within 3 years.

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