Title XVII, Housing and Redevelopment

Any project or program undertaken under the provisions of this chapter shall be exempt from the provisions of RSA 228.

All bonds issued by the authority shall be subject to applicable federal law.

Without limiting the generality of the powers granted under RSA 204-C:8, with respect to mortgage loans to be made by the authority, the authority may: I. Make, undertake commitments to make and participate with governmental agencies, lending institutions and other sources in the…

Mortgage loans made by the authority to eligible mortgagors shall be made subject to the following terms and conditions: I. No application for a mortgage loan shall be approved unless the applicant is an eligible mortgagor. II. Mortgage loans shall be made at interest rates estab…

Without limiting the generality of the powers granted under RSA 204-C:8, the authority may: I. Invest in, purchase or make commitments to purchase, and take assignments from lending institutions of loans, whether or not secured by a mortgage, mortgage loans and promissory notes a…

At or before the time of purchase of any loan or mortgage loan, the lending institution which made such loan or mortgage loan shall certify to the authority with respect to all loans or mortgage loans transferred to the authority: I. That the loans or mortgage loans transferred t…

Without limiting the generality of the powers granted under RSA 204-C:8, the authority may: I. Make loans to lending institutions under terms and conditions requiring the proceeds of the loans to be used by such lending institutions for the making of new mortgage loans for housin…

There is hereby created a body politic and corporate having a distinct legal existence separate from the state and not constituting a department of state government, to be known as the New Hampshire housing finance authority to carry out the provisions of this chapter. The author…

Prior to making any mortgage loan or any loan to a lending institution, or prior to purchasing any loan or mortgage loan under this chapter, the authority shall find with respect to each such commitment: I. That, with respect to rental multi-family housing, eligible elderly and l…

With respect to mortgage loans made by the authority under RSA 204-C:15, each mortgage to an eligible mortgagor of multi-family housing shall be subject to a regulatory agreement between the authority and the mortgagor which subjects the multi-family housing, the mortgagor and pr…

With respect to mortgage loans made by the authority under RSA 204-C:15, the authority shall, pursuant to rules adopted by it, make the following initial rental determinations for the dwelling units included in rental multi-family housing financed under this chapter: I. The rent …

After such initial rental determinations, any adjustment in the rents or carrying charges to be charged for housing financed under this chapter shall either be approved by the authority or comply with rules, if any, of the authority in effect at the time which govern such adjustm…

With respect to mortgage loans made by the authority under RSA 204-C:15, before making a loan commitment for multi-family housing, the authority shall approve a tenant or owner selection plan submitted by the eligible mortgagor. The authority shall make and publish rules from tim…

The authority shall have the power, and is hereby authorized to issue its bonds and notes in such principal amount as the authority shall determine to be necessary to provide sufficient funds for achieving any of its corporate purposes, including the making and purchase of mortga…

The authority is authorized to provide for the issuance of its bonds or notes for the purpose of refunding any bonds or notes of the authority then outstanding, including the payment of any redemption premium on such bonds and notes and any interest accrued or to accrue to the ea…

I. Except as may otherwise be expressly provided by resolution of the authority, every issue of its notes and bonds shall be general obligations of the authority payable out of any revenues or moneys of the authority, subject only to any agreements with the holders of particular …

The notes and bonds shall be authorized by resolution of the authority, shall bear such date or dates and shall mature at such time or times in the case of any such note, or any renewals of such note, not exceeding 8 years from the date of issue of the original such note, and in …

The powers of the authority shall be vested in 9 members, comprised of men and women, to be appointed by the governor with the advice and consent of the council. One member of the board shall be a person having experience in the construction of single-family real estate; one memb…

Any moneys of the authority including proceeds from the sale of any bonds or notes, and revenues, receipts and income from any of its mortgages or other assets, may be invested and reinvested in such obligations, securities and other investments as shall be provided in the resolu…

Issuance by the authority of one or more series of bonds or notes for one or more purposes shall not preclude the authority from issuing other bonds or notes in connection with the same purpose or purposes, but the proceedings under which any subsequent bonds or notes may be issu…

Any resolution authorizing any notes or bonds or any issue of notes or bonds may contain provisions which shall be part of the contract or contracts with the holders of the notes or bonds, as to: I. Pledging all or any part of the revenues of the authority to secure the payment o…

Any pledge made by the authority shall be valid and binding from the time when the pledge is made. The revenues, moneys, or property so pledged and received after the pledge by the authority shall immediately be subject to the lien of such pledge without any physical delivery or …

Neither the members of the board nor the executive director of the authority nor any other person executing such notes or bonds shall be subject to any personal liability or accountability by reason of the issuance of notes or bonds.

The authority may, out of any funds available for bonds and notes, purchase its own bonds or notes. The authority may hold, pledge, cancel or resell such bonds or notes, subject to and in accordance with agreements with bondholders and noteholders.

Bonds or notes may be issued under this chapter without obtaining the consent of the governor and council or of any department, division, commission, board, body, bureau or agency of the state; and without any other proceedings or the happening of any conditions or things except …

In the discretion of the authority, any bonds issued under the provisions of this chapter may be secured by a trust agreement by and between the authority and a corporate trustee or trustees, which may be any trust company or bank having the powers of a trust company within or ou…

In case any of the members, executive director or officers of the authority whose signatures appear on any notes or bonds or coupons shall cease to be such members, executive director or officers before the delivery of such notes or bonds, such signatures shall, nevertheless, be …

In any suit, action or proceedings involving the validity or enforceability of any bond or note of the authority or the security for such bond or note, any such bond or note reciting in substance that it has been issued by the authority to aid in financing housing to provide dwel…

Meetings shall be held at the call of the chairman, executive director or when 3 members so request. Five members of the board shall constitute a quorum and the affirmative vote of 5 members shall be necessary for any action taken by the authority. No vacancy in the membership of…

I. The authority may create and establish one or more special funds, hereafter referred to as "bond reserve funds", and shall pay into each such bond reserve fund any moneys appropriated and made available by the state for the purpose of such fund; any proceeds of sale of notes o…

I. To assure the continued operation and solvency of the authority for the carrying out of its corporate purposes, the chairperson of the authority shall, not later than the twentieth legislative day of each session of the general court, submit to the chairperson of the house fin…

Any holder of notes or bonds issued under this chapter or any of the coupons appertaining to such notes or bonds, and the trustee or trustees under any trust agreement, except to the extent the rights herein given may be restricted by any resolution authorizing the issuance of, o…

The state does hereby pledge to and agree with the holders of any notes or bonds issued under this chapter that the state shall not limit or alter the rights hereby vested in the authority to fulfill the terms of any agreements made with the said holders of such notes or bonds or…

Obligations issued under this chapter shall not be deemed to constitute a debt or liability or obligation of the state or of any political subdivision of the state, or a pledge of the faith and credit of the state or of any political subdivision of the state, but shall be payable…

The obligations of the authority shall be legal investments in which all public officers and public bodies and authorities of the state, its political subdivisions, all municipalities and municipal subdivisions, all insurance companies and associations and other persons carrying …

On or before November 1 annually, the authority shall submit a detailed annual report of its operations and a complete financial audit for the preceding fiscal year to the governor, the executive council, the speaker of the house of representatives, the senate president, the hous…

The authority is authorized to accept such moneys as may be appropriated from time to time by the legislature for carrying out its corporate purpose. The authority shall repay the state all sums which are appropriated to the authority for organizational purposes in 5 annual insta…

I. The exercise of the powers granted by this chapter shall be in all respects for the benefit of the people of the state, for their well being and prosperity and for the improvement of their social and economic conditions, and the authority shall not be required to pay any tax o…

Operation of the authority shall be delegated by the board to an executive director who shall be appointed by the board. The executive director shall be a person qualified by training and experience in this field and shall hold office for an indefinite term, at the pleasure of th…

This chapter shall not be construed as a restriction or limitation upon any powers which the authority might otherwise have under laws of the state, and this chapter is cumulative to such powers. This chapter does and shall be construed to provide a complete, additional and alter…

I. All multi-family housing financed under this chapter shall be subject to the planning, zoning, sanitary and building laws, ordinances and regulations applicable in the municipality in which such multi-family housing is situated. In the planning and location of any multi-family…

The financial and administrative operations of the authority shall be exempt from the rules of any department, commission, board, bureau or agency of the state except to the extent and in the manner provided in this chapter.

The authority shall be exempt from the provisions of RSA 541-A and may adopt rules in accordance with its own procedures. The authority shall file in the office of legislative services a copy of all existing rules adopted by the authority. Any rule adopted after the effective dat…

If any clause, sentence, paragraph, section or part of this chapter shall be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair or invalidate the remainder thereof, but shall be confined in its operation to the clause, sentence, …

Insofar as the provisions of this chapter are inconsistent with the provisions of any other law, general or special, the provisions of this chapter shall be controlling.

As used in this subdivision: I. "Affordable housing" means: (a) Housing whose combined rental and utility costs or combined mortgage loan debt services, property taxes and required insurance do not exceed 30 percent of the gross income of persons of low or moderate income, as the…