RSA 38-A Municipal Transit Authority
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Change 1
38-A:10 General Powers and Duties of the Authority.
I. The authority may adopt a seal to be impressed upon its instruments, and may provide for the impression of such seal by printed or lithographed facsimile thereof. Any executed instrument bearing the seal of the authority shall be prima facie evidence of its execution by the authority and that its execution was duly, regularly, and legally authorized by the authority. II. The authority may contract with any department or agency of the United States of America or of the state of New Hampshire or with any public corporation upon such terms and conditions as the authority finds is for the authority's best interests. III. The authority shall have the power to apply for and accept grants and loans from any department or agency of the United States of America to be used for any of the purposes of the authority and to enter into any agreement with such department or agency in relation to such grants or loans; provided that such agreement does not conflict with any of the provisions of any resolution securing the payment of bonds of the authority. IV. The authority shall, by resolution, make all rules and regulations governing the use, operation, and maintenance of the system and shall determine all routings and change the same whenever it is deemed advisable by the authority; provided, however, that any revenue bond indenture may place limitations and conditions upon the exercise of such powers or any part thereof. V. The authority shall have the power to lease the system or any part thereof to, or contract for the use of the system or any part thereof by, any operator; provided, however, that any revenue bond indenture may prohibit, limit, or restrict the exercise of such power. VI. The authority shall have the power to deposit any monies of the authority, in accordance with the provisions of the general laws of the state of New Hampshire governing the deposit of public monies for the city or town in which the authority operates, in such bank or banks in the state of New Hampshire as may be authorized to receive deposits of public funds. VII. The authority may adopt such rules and regulations as may be necessary to enable it to exercise the powers and perform the duties conferred or imposed upon it by this chapter. VIII. The authority may sue and be sued in all courts of competent jurisdiction. IX. The authority may provide for the appointment of or engagement of such officers, attorneys, engineers, consultants, agents, and employees as may be necessary for any purpose of the authority. It may require bonds of any such officers or employees. X. The authority may issue bonds for the implementation of any project of the authority, including acquisition of property, or the paying off of any debt or obligation of the authority. The authority may issue such types of bonds as may be determined by the members of said authority, including certificates on which principal and interest are payable: (a) Exclusively from incomes or revenues of the operation of the authority financed with the proceeds of such bonds or together with such proceeds and grants from any instrumentality or other person or corporation in aid of such projects; (b) Exclusively from income and revenues of certain designated projects; or (c) From revenues of the authority generally. Any such bond may be additionally secured by mortgage of the system or any part thereof constituting real or personal property of the authority. Source. 1963, 278:1, eff. Sept. 1, 1963.
38-A:10 General Powers and Duties of the Authority.
I. The authority may adopt a seal to be impressed upon its instruments, and may provide for the impression of such seal by printed or lithographed facsimile thereof. Any executed instrument bearing the seal of the authority shall be prima facie evidence of its execution by the authority and that its execution was duly, regularly, and legally authorized by the authority. II. The authority may contract with any department or agency of the United States of America or of the state of New Hampshire or with any public corporation upon such terms and conditions as the authority finds is for the authority's best interests. III. The authority shall have the power to apply for and accept grants and loans from any department or agency of the United States of America to be used for any of the purposes of the authority and to enter into any agreement with such department or agency in relation to such grants or loans; provided that such agreement does not conflict with any of the provisions of any resolution securing the payment of bonds of the authority. IV. The authority shall, by resolution, make all rules and regulations governing the use, operation, and maintenance of the system and shall determine all routings and change the same whenever it is deemed advisable by the authority; provided, however, that any revenue bond indenture may place limitations and conditions upon the exercise of such powers or any part thereof. V. The authority shall have the power to lease the system or any part thereof to, or contract for the use of the system or any part thereof by, any operator; provided, however, that any revenue bond indenture may prohibit, limit, or restrict the exercise of such power. VI. The authority shall have the power to deposit any monies of the authority, in accordance with the provisions of the general laws of the state of New Hampshire governing the deposit of public monies for the city or town in which the authority operates, in such bank or banks in the state of New Hampshire as may be authorized to receive deposits of public funds. VII. The authority may adopt such rules and regulations as may be necessary to enable it to exercise the powers and perform the duties conferred or imposed upon it by this chapter. VIII. The authority may sue and be sued in all courts of competent jurisdiction. IX. The authority may provide for the appointment of or engagement of such officers, attorneys, engineers, consultants, agents, and employees as may be necessary for any purpose of the authority. It may require bonds of any such officers or employees. X. The authority may issue bonds for the implementation of any project of the authority, including acquisition of property, or the paying off of any debt or obligation of the authority. The authority may issue such types of bonds as may be determined by the members of said authority, including certificates on which principal and interest are payable: (a) Exclusively from incomes or revenues of the operation of the authority financed with the proceeds of such bonds or together with such proceeds and grants from any instrumentality or other person or corporation in aid of such projects; (b) Exclusively from income and revenues of certain designated projects; or (c) From revenues of the authority generally. Any such bond may be additionally secured by mortgage of the system or any part thereof constituting real or personal property of the authority. Source. 1963, 278:1, eff. Sept. 1, 1963.
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