Revision: Jan. 21, 2010, midnight
CHAPTER 12
HB 1184 – FINAL VERSION
18Jan2006… 0311h
22Feb2006… 0761eba
2006 SESSION
06/09
HOUSE BILL 1184
AN ACT relative to the majority vote required for the use of bond proceeds in certain school districts or municipalities.
COMMITTEE: Municipal and County Government
This bill clarifies the majority needed to use the remaining balance in a bond account in a community which has adopted the official ballot or an optional form of legislative body.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
18Jan2006… 0311h
22Feb2006… 0761eba
06-2295
06/09
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Six
AN ACT relative to the majority vote required for the use of bond proceeds in certain school districts or municipalities.
Be it Enacted by the Senate and House of Representatives in General Court convened:
12:1 Use of Bond Proceeds; Official Ballot or Optional Legislative Body Political Subdivisions. Amend RSA 33:3-a, II to read as follows:
II. If after notes or bonds have been issued and no expenditure of the proceeds has been made for the purpose or purposes for which the debt was incurred, or if a balance remains after the completion of the project or projects for which the debt was authorized, a city by a vote of 2/3 of the city council or a town, school district, or village district by a vote of 2/3 of the voters present and voting at an annual meeting, [and] a county by a 2/3 vote of all the members of the county convention, a political subdivision which has adopted official ballot voting procedures pursuant to RSA 40:13 by a vote of 3/5 of those voting, and a municipality that has adopted an official ballot town council under RSA 49-D:3, I-a by a vote of 2/3 unless the municipal charter provides for a vote of 3/5, may authorize the expenditure of the sum or sums on hand, including any premiums received, for any purpose or purposes for which bonds or serial notes may be issued for an equal or longer period of time at any time which said sum or any portion thereof remains available; provided, however, that if the sum obtained by issuance of bonds or notes, as aforesaid, or any balance thereof, including any premium, is not appropriated as aforesaid, then the same shall be used to pay the principal of the loan as it matures. Only “yes” or “no” votes shall be included in the calculation of any majority.
12:2 Effective Date. This act shall take effect upon its passage.
Approved: March 13, 2006
Effective: March 13, 2006