2006 New Hampshire Statutes - Section 198:15-a Annual Grant for the Payment of Debt Service for School Construction.

To aid local school districts in meeting the costs of the payment of debt for school buildings and educational administration buildings, including office facilities for school administrative units, and to meet the costs of leasing permanent space in a building which is used for the operation of a high school vocational technical education program, the department of education shall, from funds appropriated by the general court to carry out the provisions of this subdivision, pay annually to the school districts of the state, sums in accordance with the provisions of this subdivision or the alternative school building aid provisions under RSA 198:15-u through RSA 198:15-w, depending on which option a school district elects. The annual grant to school districts shall be made in 2 approximately equal payments, one in October and one in April of each fiscal year. No payment shall be made to a school district prior to the district's first payment on the amount of principal borrowed.

Source. 1955, 335:9, par. 14-a. 1967, 449:2, eff. Sept. 5, 1967. 2003, 296:1, eff. July 1, 2005; 306:1, eff. Sept. 16, 2003. 2005, 180:1, eff. Aug. 29, 2005.