RSA 53-A Agreements Between Government Units
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Change 1
53-A:6 Funds Issuance of Bonds or Notes.
I. The respective counties, towns, cities and other governmental units involved in any agreements as set forth in this chapter are hereby authorized to appropriate the funds necessary to carry out their contractual obligations thus incurred. In cases involving the expenditure of capital funds they are authorized to borrow such funds under the terms of the municipal finance act, RSA 33, as amended, and to issue bonds in accordance with the provisions of such act or to set up a capital reserve fund for such purposes under the provisions of RSA chapters 34 or 35. II. Any 2 or more public agencies participating in such an agreement may jointly issue bonds or notes under RSA 33 for any purpose for which they may be issued under that chapter. (a) Any agreement entered into under RSA 53-A:3 shall specify each participating public agency's proportionate share of the debt represented by any jointly issued bond or note. (b) Each public agency participating in the joint issuance of a bond or note shall comply separately with the requirements of RSA 33:8 through 33:10 applicable to that public agency, and the bond or note shall not be issued until authorized by each participating public agency as provided in the applicable section or sections. (c) Each participating public agency's proportionate share of the debt represented by the bond or note shall be counted toward its debt limit under RSA 33:4 or 33:4-a unless excluded by other provisions of RSA 33. (d) All other applicable provisions of RSA 33 shall apply to the participating public agencies jointly as if the bond or note were issued by a single political subdivision. Source. 1977, 238:1, eff. Aug. 19, 1977. 2019, 231:1, eff. Sept. 10, 2019.
53-A:6 Funds Issuance of Bonds or Notes.
I. The respective counties, towns, cities and other governmental units involved in any agreements as set forth in this chapter are hereby authorized to appropriate the funds necessary to carry out their contractual obligations thus incurred. In cases involving the expenditure of capital funds they are authorized to borrow such funds under the terms of the municipal finance act, RSA 33, as amended, and to issue bonds in accordance with the provisions of such act or to set up a capital reserve fund for such purposes under the provisions of RSA chapters 34 or 35. II. Any 2 or more public agencies participating in such an agreement may jointly issue bonds or notes under RSA 33 for any purpose for which they may be issued under that chapter. (a) Any agreement entered into under RSA 53-A:3 shall specify each participating public agency's proportionate share of the debt represented by any jointly issued bond or note. (b) Each public agency participating in the joint issuance of a bond or note shall comply separately with the requirements of RSA 33:8 through 33:10 applicable to that public agency, and the bond or note shall not be issued until authorized by each participating public agency as provided in the applicable section or sections. (c) Each participating public agency's proportionate share of the debt represented by the bond or note shall be counted toward its debt limit under RSA 33:4 or 33:4-a unless excluded by other provisions of RSA 33. (d) All other applicable provisions of RSA 33 shall apply to the participating public agencies jointly as if the bond or note were issued by a single political subdivision. Source. 1977, 238:1, eff. Aug. 19, 1977. 2019, 231:1, eff. Sept. 10, 2019.
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