Title XVII, Housing and Redevelopment

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 construct multi-family or single family housing on property transferred under this chapter. II. The authority shall, where reasonably possible given regulatory, economic, and geographic factors, give preference to the construction of multi-family rental housi…

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…

The authority shall provide for the continued affordability of housing units constructed on state land transferred under this chapter by contracting with the developer or individual mortgagor of such units pursuant to rules adopted under RSA 204-D:6.

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…

I. There is hereby established within the authority an affordable housing fund. All revenues collected from the sources described in RSA 204-C:59 or from government appropriations or grants shall be credited to the fund, but such revenues shall not be deemed to be money received …

During the course of construction or rehabilitation of housing in any approved project, it shall be the duty of the authority to render technical assistance to the entity undertaking the project and to oversee the process so as to assure that it is completed in accordance with de…

The affordable housing fund shall be capitalized with donations, transfers, set asides, or appropriations authorized by law, including, but not limited to: I. Fees paid to the authority from the development of qualified residential rental projects financed by bonds issued under s…

Before entering into their duties, the members of the board shall obtain a surety blanket bond covering each member in the penal sum of not less than $50,000, the executive director in the penal sum of not less than $100,000, and the other officers and employees of the authority …

The authority shall adopt rules under RSA 204-C:53 relative to: I. Eligibility requirements for access to housing units constructed under this chapter. II. Application procedures. III. Requirements related to occupancy, resale, and continued affordability of housing units constru…

Moneys deposited in the fund may be invested by the authority; provided, however, that sufficient funds are made available to grant applications for emergency assistance and the routine flow of regular applications. Income earned from such investment shall be returned to the affo…

The fund shall supplement, not supplant, the responsibility of the authority to address the housing needs of persons of low and moderate income.

Pursuant to RSA 204-C:53, the authority shall adopt rules governing the affordable housing fund. Such rules shall include, but shall not be limited to: I. Eligibility requirements for applicants. II. Criteria for eligible projects, including, but not limited to, construction and …

The purpose of this subdivision is to assist low and moderate income persons and families to purchase, rehabilitate, and improve housing.

There is hereby established a low and moderate income housing loan program to be administered by the New Hampshire housing finance authority which shall make low interest loans to low and moderate income persons for the purpose of assisting them to make down payments on single fa…

I. Such funds as the general court may specifically appropriate from time to time to the authority may be loaned to eligible low and moderate income persons or families for the purpose of making down payments on single family homes, paying closing costs and fees associated with t…

The authority and the low or moderate income person shall enter into a contract providing that if the property is sold, or no longer owner occupied, the loan provided under this program shall be immediately due and payable.

The authority shall review each request for assistance under this subdivision to objectively determine whether such request is primarily for a public purpose and benefit in accordance with RSA 204-C:20.

Pursuant to RSA 204-C:53, the authority shall adopt rules relative to: I. Criteria for eligibility for loans made under this subdivision. II. Application procedures for such loans. III. Interest rates and amount of loans. IV. Procedures for repayment of loans made under this subd…

The authority shall establish procedures to ensure that the loan program established under this subdivision shall be coordinated with programs administered by the authority including but not limited to the other mortgage assistance programs administered by the authority.

Notwithstanding any other provision of law to the contrary, it shall not be nor shall it constitute a conflict of interest for a director, officer or employee of any financial institution, investment banking firm, brokerage firm, commercial bank or trust company, architectural fi…

The authority shall establish procedures to ensure that the housing construction program established under this chapter shall be coordinated with other housing assistance programs administered by the authority.