§ 33:3-c — Issue of Bonds for Preliminary Expenses

I. A municipality or county may issue its bonds or notes for the purpose of defraying the cost of preliminary or final plans and specifications or other preliminary expenses incidental to, or connected with, any proposed public work or improvement of a permanent nature consisting of the construction, reconstruction, alteration, enlargement, improvement, or the financing of the construction, reconstruction, alteration, enlargement, or improvement of the following:
(a) A public building.
(b) A water works.
(c) A sewerage system or sewage or waste treatment facility.
(d) A solid waste disposal or resource recovery facility.
(e) Broadband infrastructure as defined in RSA 38:38, I(e) constructed to serve any locations within a municipality unserved by broadband as defined in RSA 38:38, I(c).
II. Bonds or notes shall mature over a period of not more than 5 years from the date of issue unless they are issued at the same time as bonds or notes for the public work or improvement for which such expenses were incurred, in which case said bonds or notes shall mature over a period not exceeding the expected useful life of such public work or improvement. A municipality or county may issue its bonds or notes in accordance with this section for planning and other preliminary expenses relating to solid waste disposal or resource recovery facilities to serve the municipality or county, notwithstanding that the facilities may later be owned by a private entity, but only for such expenses incurred prior to any binding contractual commitment to a proposed private owner, and only if such bonds or notes do not constitute "private activity bonds" as defined in section 103(n)(7) of the United States Internal Revenue Code of 1954, as amended.

Legislative History

1969, 201:1. 1985, 417:1, eff. Sept. 1, 1985. 2006, 225:2, eff. July 31, 2006. 2018, 118:3, eff. July 29, 2018.