228-A:1 Title; Definitions
Last revised 2005 § Leave a Comment
This chapter may be referred to as the “Federal Highway Anticipation Bond Act.” For purposes of this chapter, unless a different meaning clearly appears from the context, the following words shall have the following meanings:
I. “Bonds” means any bonds, notes, or other evidences of indebtedness issued under this chapter.
II. “Federal highway construction program” means the state’s federally assisted highway program, as it may be provided for from time to time, including without limitation, projects financed by the issuance of bonds under this chapter or any other federal highway project previously undertaken or to be undertaken at any time hereafter while any such bonds are outstanding as part of such program.
III. “Federal highway construction trust funds” means all federal highway construction reimbursements and any other federal highway assistance received from time to time by the state with respect to the federal highway construction program, or received from time to time by the state under any successor program established under federal law.
IV. “Project costs” means all the costs of constructing, reconstructing, altering, or dismantling any highway eligible to receive federal funds in accordance with RSA 235:7 or any other applicable federal or state law, and, without limiting the generality of the foregoing, may include the costs of planning, designing, constructing, reconstructing, altering, dismantling, and landscaping any such highway and all approaches, bridges, and roads connecting thereto or connecting parts thereof, of all lands, property rights, rights-of-way, easements, and franchises necessary or convenient for such construction, of all machinery and equipment, and of traffic estimates, administration, engineering, architectural and legal services, labor, plans, specifications, surveys, and estimates of costs and revenues, financing charges, interest prior to or during construction, and all such other expenses as may be necessary or incident to the financing and construction of such highway and the placing of the same fully in operation, and may include the funding of reserves for debt service and other expenses as may be determined in a bond resolution or trust or security agreement adopted or entered into pursuant to this chapter.
V. “Revenues” means all federal aid for highways received by the state pursuant to Title 23 of the United States Code and all other federal laws, heretofore or hereafter enacted, relating to federal aid for highways and all rights to receive the same, and any grants, loans, and other contributions from any governmental unit relating thereto or to projects financed, in whole or in part, pursuant to this chapter, investment earnings, and the proceeds of any borrowing hereunder or of any sale or disposition or insurance of any highway assets of the state.
2005, 58:1, eff. July 1, 2005.
Area of Law