New Hampshire § 31:97 State Guarantee

New Hampshire Statutes

§ 31:97 — State Guarantee

New Hampshire § 31:97

Title IIITOWNS, CITIES, VILLAGE DISTRICTS, AND UNINCORPORATED PLACES

Ch. 31POWERS AND DUTIES OF TOWNS

SubdivisionMiscellaneous

This text of New Hampshire § 31:97 (State Guarantee) is published on Counsel Stack Legal Research, covering New Hampshire primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.H. Rev. Stat. Ann. § 31:97 (2026).

Text

In view of the general public benefits resulting from flood control in the state, the governor and council are authorized in the name of the state of New Hampshire to guarantee unconditionally, but at no time in excess of the total aggregate sum for the entire state of $500,000, the payment of all or any portion, as they may find to be in the public interest, of the principal of and interest on any bonds or notes issued by any municipality, town, city, county or district for purposes authorized by RSA 31:96 and RSA 52:1-a and the full faith and credit of the state are pledged for any such guarantee. The state's guarantee shall be endorsed on such bonds or notes by the state treasurer; and all notes or bonds issued with state guarantee shall be sold (1) at public sealed bidding, (2) after p

Free access — add to your briefcase to read the full text and ask questions with AI

In view of the general public benefits resulting from flood control in the state, the governor and council are authorized in the name of the state of New Hampshire to guarantee unconditionally, but at no time in excess of the total aggregate sum for the entire state of $500,000, the payment of all or any portion, as they may find to be in the public interest, of the principal of and interest on any bonds or notes issued by any municipality, town, city, county or district for purposes authorized by RSA 31:96 and RSA 52:1-a and the full faith and credit of the state are pledged for any such guarantee. The state's guarantee shall be endorsed on such bonds or notes by the state treasurer; and all notes or bonds issued with state guarantee shall be sold (1) at public sealed bidding, (2) after publication of advertisement for bids, (3) to the highest bidder. Any and all such bids may be rejected and a sale may be negotiated with the highest bidder. In the event of default in payment of any such notes or bonds, the state may recover any losses suffered by it by action against the town as provided in RSA 530.