SB479 (2008) Detail

Relative to the vote required for passage of school bonds.


SB 479 – AS AMENDED BY THE SENATE

03/13/08 0948s

2008 SESSION

08-2764

04/03

SENATE BILL 479

AN ACT relative to the vote required for passage of school bonds.

SPONSORS: Sen. Estabrook, Dist 21; Sen. Kelly, Dist 10; Rep. M. Smith, Straf 7

COMMITTEE: Public and Municipal Affairs

ANALYSIS

This bill changes the required majority vote for passage of notes or bonds issued by a school district from 2/3 to 3/5.

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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

03/13/08 0948s

08-2764

04/03

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Eight

AN ACT relative to the vote required for passage of school bonds.

Be it Enacted by the Senate and House of Representatives in General Court convened:

1 Municipal Finance Act; Town or District Bonds or Notes. Amend RSA 33:8 to read as follows:

33:8 Town or District Bonds or Notes. Except as otherwise specifically provided by law, the issue of bonds or notes by any municipal corporation, except a city or a town which has adopted a charter pursuant to RSA 49-B, without a budgetary town meeting, [and except a school district or municipality which has adopted official ballot voting procedures pursuant to RSA 40:13] shall be authorized by a vote by ballot of 2/3, and the issue of tax anticipation notes, by a vote of a majority, of all the voters present and voting at an annual or special meeting of such corporation, called for the purpose. The issue of notes or bonds by a school district or municipality which has adopted official ballot voting procedures pursuant to RSA 40:13 shall be authorized by a vote of 3/5. The issue of notes or bonds by a school district which has not adopted official ballot voting procedures pursuant to RSA 40:13 shall be authorized by a vote of 3/5. The issue of notes or bonds by a municipality that has adopted an optional form of legislative body under RSA 49-D:3, I-a or RSA 49-D:3, II-a shall be authorized by either a 2/3 or 3/5 vote as adopted and provided for in the charter. If such charter does not specify which majority vote is required, then the required majority vote shall be 2/3, except that in such cases, the issue of notes or bonds by a school district shall be authorized by a 3/5 majority vote. Only votes in the affirmative or negative shall be included in the calculation of any majority. No such action taken at any special meeting shall be valid unless a majority of all the legal voters are present and vote at such special meeting, unless the governing board of any municipality shall petition the superior court for permission to hold an emergency special meeting, which, if granted, shall give said special meeting the same authority as an annual meeting. The warrant for a special meeting shall be published once in a newspaper having a general circulation in the municipality within one week after the posting of such special meeting. The warrant for any such annual or special meeting shall be served or posted at least 14 days before the date of such special meeting. Every warrant shall be deemed to have been duly served or posted, if the return on the warrant shall so state, and it shall be certified by the officer or officers required to serve or post the same. All bonds or notes, authorized in accordance with this chapter, shall be signed by the governing board, or a majority of the governing board, and countersigned by the treasurer of the municipality, and shall have the corporate seal, if any, affixed to it. The discretion of fixing the date, maturities, denominations, the interest rate, or discount rate in the case of notes, the place of payment, the form and other details of said bonds or notes and of providing for the sale of such bonds or notes, may be delegated to the governing board or to the treasurer and shall, to the extent provision therefor shall not have been made in the vote authorizing the same, be deemed to have been delegated to the governing board.

2 Effective Date. This act shall take effect upon its passage.