N.H. Admin. Code § Bfa 101.01 - Terms Used Throughout Title

The following terms have the following meanings throughout this title, unless the context requires otherwise:

(a) "Authority" means the business finance authority pursuant to RSA 162-A:3.

(b) "Authority's bond counsel" means an attorney or firm of attorneys of nationally recognized standing in the field of law relating to municipal, state, and public agency financing, selected by the directors to represent the authority in connection with the issuance of bonds.

(c) "Authority Guarantee Amount" means, with respect to any loan, the portion of the principal amount of the loan which is guaranteed, or is to be guaranteed, by the guarantee to be issued under RSA 162-A:8.

(d) "Board" means the board of directors for the authority.

(e) "Bond" means an evidence of indebtedness issued by the authority or another issuer.

(f) "Bond Counsel" means an attorney or firm of attorneys selected or accepted by a user or issuer to render a legal opinion as to the due authorization, validity, and if appropriate tax-exemption of bonds in a particular financing. In any particular transaction the authority's bond counsel might also be bond counsel.

(g) "Bond Limit" means the private activity bond limit applicable to the state and its political subdivisions pursuant to Section 146 of the Internal Revenue Code of 1986 and allocated to the authority pursuant to RSA 162-M.

(h) "CAP" means the Capital Access Program established pursuant to RSA 162-A:12.

(i) "CAP Fund" means an administrative account maintained by the authority to account for funds accumulated pursuant to CAP.

(j) "Chairman" means the chairman of the authority's board of directors.

(k) "Code" means the Internal Revenue Code of 1986.

(l) "Credit enhancement" means any loan, expenditure, purchase, guarantee or contribution of funds authorized under RSA 162-A:7, 8, 9, 10, 12 and 13.

(m) "Directors" means directors of the authority.

(n) "Eligible facility" means any facility or portion of a facility pursuant to RSA 162-I:2.

(o) "Executive director" means the executive director of the authority.

(p) "Financing and security documents" means the financing document, as defined in RSA 162-I:2, VI, and the security document, as defined in RSA 162-I:2, X, for a particular issue of bonds.

(q) "Guarantee" means a promise on behalf of the state of New Hampshire to indemnify financial loss.

(r) "Issuer" means any state or local governmental unit, agency, authority or instrumentality, or any nonprofit or public corporation authorized to issue private activity bonds.

(s) "Loan" means an amount of money, in U.S. dollars, advanced, with the expectation of repayment, with or without interest, by the authority or a bank.

(t) "Local Development Organization" means any local or regional development agency, authority, corporation, association, foundation, or other entity, regardless of the name or manner of the organization, provided it has a principal function the promotion, encouragement, or development of business in the state.

(u) "Private activity bond" means any obligation of an issuer that is described in Section 141(a) of the Code the interest of which is intended to be excluded from gross income for federal income tax purposes.

(v) "Private financial institution" mean any bank, trust company, or other organization that is in the business of making loans to businesses and duly organized under the laws of the United States or any state, and with respect to any organization that is not a bank or trust company, it is qualified to do business in New Hampshire.

(w) "Project" means the creation, establishment, acquisition, construction, expansion, remodeling or replacement of an eligible facility, financed by the issue of bonds.

(x) "SBA" means the United States Small Business Administration.

(y) "State" means the state of New Hampshire.

(z) "User" means the person entitled to the use and occupancy of an eligible facility and primarily responsible for making payments sufficient to meet debt service on the bonds issued to finance the facility. The term includes 2 or more persons who are in the aggregate so entitled and so responsible and also includes any person who has applied to the authority for the issue of bonds to finance an eligible facility.

Notes

N.H. Admin. Code § Bfa 101.01

(See Revision Note at chapter heading for Bfa 100) #5719, eff 10-13-93