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2017 New Hampshire Revised Statutes
Title XXXIV - PUBLIC UTILITIES
Chapter 374-B - MUNICIPAL ELECTRIC REVENUE BONDS
Section 374-B:16 - Severability.
Universal Citation: NH Rev Stat § 374-B:16 (2017)
374-B:16 Severability. –
This chapter shall be construed in all respects so as to meet all constitutional requirements. Except as expressly provided, the provisions of this chapter shall not affect the interpretation of other laws. If any provision or clause of this chapter, or the application thereof to any person or circumstance, is held invalid, such invalidity shall not affect other provisions or applications of the chapter, except as hereinafter set forth in this section. In the event it is finally determined by a court of competent jurisdiction that a municipality is not subject, with respect to any electric power facilities financed under this chapter, to payments in lieu of taxes under RSA 374-B:14 by reason of the unconstitutionality of said section, or that the borrowing limitation set forth in RSA 374-B:2, I, is unconstitutional, the municipality involved shall, and any person may, file written notice of such decision with the commission. Such notice shall include a statement that it is filed pursuant to this section. After such a filing the commission shall not have any further authority to approve the issue of bonds under this chapter except:
I. If it finds that any electric utility has, prior to such filing, undertaken substantial expense or liability in expectation of such bond financing; or
II. If notes have been issued, prior to such a filing, under RSA 374-B:3 in anticipation of revenue bonds.
I. If it finds that any electric utility has, prior to such filing, undertaken substantial expense or liability in expectation of such bond financing; or
II. If notes have been issued, prior to such a filing, under RSA 374-B:3 in anticipation of revenue bonds.
Source. 1975, 501:1, eff. June 24, 1975.
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