New Hampshire § 33:8-f Procedures to Limit or Rescind Bonding Authority for Bonds or Notes

New Hampshire Statutes

§ 33:8-f — Procedures to Limit or Rescind Bonding Authority for Bonds or Notes

New Hampshire·Title III TOWNS, CITIES, VILLAGE DISTRICTS, AND UNINCORPORATED PLACES·Ch. 33 MUNICIPAL FINANCE ACT

I. In any vote to approve bonding authority, a town may limit the length of time the bond authorization remains valid. If, after the expiration of any such period, no bond or note has been issued, the bonding authority shall be considered for all purposes as rescinded. II. A town may vote at an annual meeting to rescind an authorized but unissued bond or note following the same procedures as would be required to adopt such bond or note, provided that:

(a)A vote to rescind shall not take place less than 5 years after the vote to authorize the bond or note;

(b)The vote to rescind must pass by the same majority required, at the time of the rescission vote, to adopt a bond or note; and

(c)Notwithstanding RSA 33:8-a, II, a warrant article proposing the rescission of a bond or note in excess

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

I. In any vote to approve bonding authority, a town may limit the length of time the bond authorization remains valid. If, after the expiration of any such period, no bond or note has been issued, the bonding authority shall be considered for all purposes as rescinded.
II. A town may vote at an annual meeting to rescind an authorized but unissued bond or note following the same procedures as would be required to adopt such bond or note, provided that:
(a) A vote to rescind shall not take place less than 5 years after the vote to authorize the bond or note;
(b) The vote to rescind must pass by the same majority required, at the time of the rescission vote, to adopt a bond or note; and
(c) Notwithstanding RSA 33:8-a, II, a warrant article proposing the rescission of a bond or note in excess of $100,000 need not be acted upon prior to other business.

New Hampshire § 33:8-f (Procedures to Limit or Rescind Bonding Authority for Bonds or Notes) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.