New Hampshire Administrative Code

The authority provides the financial vehicle to encourage economic growth in New Hampshire. Loans, and loan guarantees are available to eligible businesses and industries located within the state. Such programs are vehicles to enhance credit. Such credit enhancement programs are …

The powers of the authority shall be vested, pursuant to RSA 162-A, in a board of directors. Such power shall be delegated with regard to the business and affairs of the authority as consistent with RSA 162-A. Notes N.H. Admin. Code § Bfa 102.04 (See Revision Note at chapter head…

The board shall, pursuant to RSA 162-A:4, consist of 14 directors. The directors shall be responsible for the operation of the authority. The governor and council appoint 9 directors. The speaker of the house of representatives appoints 2, nonvoting, directors. The president of t…

The Authority is empowered to adopt rules pursuant to RSA 162-A:6, IV and RSA 162-A:25, VII. Notes N.H. Admin. Code § Bfa 102.06 (See Revision Note at chapter heading for Bfa 100) #5719, eff 10-13-93

Any New Hampshire citizen, who's interests may be legitimately impacted by authority actions, policies, or rules, may petition the authority to adopt, amend, or repeal rules in accordance with the following procedure: (a) The petitioner shall submit in writing a detailed request …

Persons may apply to the executive director for a declaratory ruling as to the applicability of any statutory provision pertaining to, or rule or order of, the authority in accordance with the following procedure: (a) A person requesting a declaratory ruling shall submit, in writ…

Unless otherwise provided herein, applications which request the authority to take action under the programs established pursuant to RSA 162-A:7, RSA 162-A:8, RSA 162-A:9, RSA 162-A:10, and RSA 162-A:13 shall meet the requirements set forth in Bfa 301. Notes N.H. Admin. Code § Bf…

Applications which fail to satisfy the following requirements shall be rejected by the authority: (a) Applications shall be submitted and received at the authority's office by 4:00 p.m. before the expiration of any application filing deadlines. (b) Each application shall include …

Upon receipt of applications, the executive director of the authority shall review each application to determine whether it has satisfied the requirements for a complete application. If additional information of an administrative nature is required, the executive director or othe…

(a) Applications for a credit enhancement under RSA 162-A:7 shall be made by the local development organization. (b) Such applications shall provide the following information: (1) The name and address of local development organization; (2) A statement of history and mission of lo…

(a) Applications for a credit enhancement under RSA 162-A:8 shall be made by the private financial institution. (b) Such applications shall provide the following:(1) A certification that the SBA has accepted the application for guarantee or loan as filed; and (2) A complete copy …

(a) Applications for a credit enhancement under RSA 162-A:10 shall be made by the local development organization. (b) Such applications shall provide the following information: (1) The name and address of local development organization; (2) A statement of history and mission of l…

RESERVED Notes N.H. Admin. Code § Bfa 302.04

(a) Applications for a credit enhancement under RSA 162-A:13 shall be made by the private financial institution. (b) Such applications shall provide the following information: (1) The name and address of private financial institution; (2) An identification of private financial in…

The board shall establish fees and charges for applying under and participation in its credit enhancement programs from time to time at a meeting of the board. Notes N.H. Admin. Code § Bfa 303.01 (See Revision Note at chapter heading for Bfa 100) #5719, eff 10-13-93

The board shall establish fees and charges for each of its credit enhancement programs on the basis of the following criteria: (a) Whether the fees and charges are comparable to the level of fees and charges which would be charged if the credit enhancement were provided by a priv…

(a) This part sets forth the criteria used and the procedures followed by the authority in approving applications under the programs established pursuant to RSA 162-A:7, RSA 162-A:8, RSA 162-A:9, RSA 162-A:10, and RSA 162-A:13. (b) The purpose of this part is to describe the crit…

Discussion of criteria and procedures followed by governor and council contained in this part shall be descriptive only and shall not be rules binding on the governor and council. Notes N.H. Admin. Code § Bfa 304.02 (See Revision Note at chapter heading for Bfa 100) #5719, eff 10…

The application for and issuance of a credit enhancement under any of the authority's programs shall be a four-step procedure which shall consist of the following elements: (a) The submission of a complete application in accordance with PART Bfa 301; (b) The evaluation of an appl…

(a) Upon receipt of a complete application in accordance with Bfa 301, the executive director and staff of the authority shall review the material contained in the application. The executive director or any designated member of the staff of the authority shall request any additio…

Approval of an application by the board shall only be an expression of the authority's intent to recommend that governor and council approve the award of the credit enhancement approved at the meeting of the board. Such approval shall not bind the authority to take action to make…

If the Board approves an application, the board shall adopt a resolution which shall: (a) Make all the general and specific findings required under RSA 162-A:18 with respect to the specific program for which the application was submitted; (b) Recommend to the governor and council…

After the transmittal of the resolution of the board and accompanying material to the governor and council and the due publication of a notice of public hearing before governor and council, the chairman, executive director, or other authority staff member designated by the board …

(a) After the governor and council have made the findings required by RSA 162-A:18, the persons authorized to execute and deliver the credit enhancement documents and any related certificates on behalf of the authority shall so execute and deliver such documents and related certi…

The authority shall waive the provisions of any rule, except where precluded by applicable law, if a majority of the board shall determine that such waiver is necessary to carry out the purposes of RSA 162-A, RSA 162-I or RSA 162-M. Any such waiver shall be specific and in writin…

(a) This chapter describes the procedures to be followed by users in applying for and obtaining financing for an eligible facility through the issuance of bonds under RSA 162-I. This chapter also describes the criteria used and the procedures followed by the authority in approvin…

The application for and the issuance of bonds shall be a 4 step procedure which shall consist of the following elements: (a) Except as provided in Bfa 402.03(b), the submission of a preliminary application by a user and the grant of preliminary official action by the authority; (…

(a) A user who wants to finance a project through the authority's issuance of bonds shall submit a request to the authority that it consider such a financing. Such requests shall be submitted on Form Bfa-1, APPLICATION FOR PRELIMINARY OFFICIAL ACTION AND RESERVATION OF BOND LIMIT…

(a) Upon receipt of an application from a user for preliminary official action, the staff of the authority and authority's bond counsel shall review the application and promptly advise the user of any omission or deficiency in the application. If a user is advised by the staff of…

(a) Adoption of a preliminary official action resolution by the directors shall be only an expression of intent to issue bonds. Among other things, preliminary official action shall be intended to satisfy "official intent" requirement as set forth in Treas. Reg. Sec. 150-2. The a…

If a project is modified, the estimated cost of a project is changed, or some other event occurs or circumstance arises making it advisable to amend a preliminary official action resolution, the authority shall, upon the written request of the user, or upon its own motion, amend …

(a) After the terms of a proposed bond issue have been substantially fixed, the user, through bond counsel, shall submit an application for the director's approval of the issuance of bonds for the user's project. The application shall consist of the following items, each of which…

(a) Upon receipt from bond counsel of a final application, the staff of the authority and authority's bond counsel shall review the application and promptly advise bond counsel of any omission or deficiency in the application. If bond counsel is advised by the staff of the author…

After the transmittal of the final application to the governor and council and the due publication of a notice of public hearing before the governor and council, the executive director or the chairman shall present the proposed bond issue to the governor and council at the public…

(a) After the governor and council have made the findings required by RSA 162-I:9 and, if applicable, RSA 162-I:9-a or 162-I:9-b, the persons authorized to execute and deliver the bonds, the financing and security documents and any related certificates and documents on behalf of …

This chapter describes the procedures to be followed by issuers, other than the authority, in obtaining a reservation or assignment of bond limit and by users, in the case of authority bond issues, in obtaining a reservation or an allocation of bond limit. This chapter also descr…

(a) For purposes of this chapter: (1) An assignment of bond limit shall refer to the authority's transfer of bond limit to another issuer for allocation to a particular bond issue; and (2) An allocation of bond limit shall refer to the authority's designation of a portion of the …

(a) The directors shall, at their first meeting in each calendar year, establish categories of private activity bonds based on the purpose of the bond issue and shall allot a portion of the bond limit to each category. The establishment of such categories and the amount of bond l…

Whenever the authority reserves, assigns or allocates bond limit, it shall determine into which category the bond issue fits, if any, and shall use bond limit from that category. If the bond issue does not fit into any category, or if the amount of the bond issue exceeds the amou…

(a) An issuer that is planning an issue of private activity bonds may submit a request to the authority that it consider making a reservation of bond limit for that issue of bonds. Such requests shall be submitted on Form Bfa-2, ISSUER APPLICATION FOR RESERVATION OF BOND LIMIT, w…

(a) Before a reservation expires the issuer shall either obtain an assignment of bond limit or obtain an extension of the reservation period. If a reservation expires, the reserved portion of the bond limit shall be returned to the category or categories from which it was drawn p…

(a) After an issuer has obtained a reservation of bond limit for a particular issue of private activity bonds, it may apply to the authority for an assignment of bond limit. An issuer shall request an assignment by writing to the authority. (b) A request for an assignment of bond…

(a) Prior to the expiration of an assignment of bond limit, the issuer shall either issue the bonds or obtain an extension of the assignment, or the assignment shall expire. If an assignment expires, the assigned portion of the bond limit shall be returned to the category or cate…

Upon the issuance of any private activity bonds, the issuer of those bonds shall promptly file with the office of investment and debt management and the authority a copy of the certification required by Section 149(e) of the Code. Notes N.H. Admin. Code § Bfa 503.05 (See Revision…

This part applies to a user who wants to finance a project through the authority's issuance of bonds and is seeking a reservation and an allocation of bond limit. The procedures described in this part are similar to the procedures established for issuers, other than the authority…

(a) Whenever a user makes an application for preliminary official action pursuant to Bfa 402.01, that application shall also be treated as an application for a reservation of bond limit, provided: (1) A letter described in Bfa 403.01(b)(4) is included in the application; and (2) …

(a) Before a reservation expires the user shall either obtain an allocation of bond limit or obtain an extension of the reservation period. If a reservation expires, the reserved portion of the bond limit shall be returned to the category or categories from which it was drawn pur…