GOVERNOR AND EXECUTIVE COUNCIL MINUTES

                                                                                State House, Concord, New Hampshire

                                                                                May 2, 2007, 10:00 a.m.

 

The Governor and Executive Council convened at 10:00 a.m. with all members present.

 

The Governor and Executive Council on motion of Councilor Wieczorek, seconded by Councilor Shea, accepted the minutes of April 18, 2007.

 

The Governor and Executive Council, on motion of Councilor Wieczorek, seconded by Councilor Shea approved the appointment of several persons nominated for Civil Commissions from the April 18, 2007 meeting.

 

The Governor placed in nomination the several persons who applied for Civil Commissions.

 

RESIGNATIONS

The Governor and Council, with regret, accepted the following

 

Advisory Committee for Lamprey River (WMPA)

(Representative of the Conservation Interests in WMPA)

Jay Odell, Newfields                                                                                            Effective: Upon acceptance

 

Physical Therapy Governing Board

(Public Member)

Margaret Brand, Hopkinton                                                                               Effective: Upon acceptance

 

Recreation Therapy Governing Board

(Public Member)

Linda M. Rodger, Whitefield                                                                             Effective:  Upon acceptance

 

Speech-Language Pathology Governing Board

(Public Member)

Mariellen MacKay, Nashua                                                                               Effective:  Upon acceptance

 

CONFIRMATIONS

The Governor and Council confirmed the following:

 

State Board of Auctioneers

Jay T. St. Jean, Manchester                                                                               Effective:  May 2, 2007

Succeeding:  Evelyn S. Lamprey, Portsmouth (reached term limit)              Term:  March 1, 2012

 

Connecticut River Atlantic Salmon Compact

Richard C. Shelton, Newmarket                                                                         Effective:  May 2, 2007

Vacancy                                                                                                                 Term:  June 20, 2009

 

Connecticut River Valley Flood Control Commission

Robert G. Kline, Plainfield                                                                                   Effective:  May 2, 2007

Reappointment                                                                                                     Term:  May 1, 2010

 

Board of Medicine

Robert P. Cervenka, M.D., Manchester                                                            Effective:  July 1, 2007

Succeeding:  Paul Scibetta, O.D., Thornton (resigned)                                 Term:  April 21, 2009

 

Moorings Appeals Board

Melvin Borrin, Moultonborough                                                                      Effective:  May 2, 2007

Reappointment                                                                                                     Term:  December 16, 2009

 

Director: Division of Personnel

Nominated by The Commissioner of Administrative Services

Karen D. Hutchins, Concord                                                                              Effective:  May 2, 2007

Succeeding:  Karen Levchuk, Concord                                                            Term:  January 1, 2011

Salary:  Grade HH Step 2: $75,983

 

Speech-Language Pathology Governing Board

Linda L. Hanrahan, Concord                                                                              Effective:  May 2, 2007

Succeeding:  Debra Hiney, Exeter                                                                     Term:  March 4, 2010

 

Traffic Safety Commission

Frank R. Dickinson, Ossipee                                                                              Effective:  May 2, 2007

Vacancy                                                                                                                 Term:  September 16, 2008

 

Transportation Appeals Board

(General Public)

Shawn M. Donovan, Lebanon                                                                           Effective:  May 2, 2007

Vacancy                                                                                                                 Term:  April 23, 2009

 

Transportation Appeals Board

(Alternate Member)

Roy W. Tilsley, Jr., Mont Vernon                                                                     Effective:  May 2, 2007

Reappointment                                                                                                     Term:  May 7, 2008

 

TABLED – The Governor and Council on motion of Councilor Wieczorek, seconded by Councilor Shea, voted to table the confirmation of:

 

Assistant Commissioner: Department of Safety

Nominated by the Commissioner of the Department of Safety

Earl M. Sweeney, Belmont                                                                                  Effective:  Upon Confirmation

Reappointment                                                                                                     Term:  March 31, 2011

Salary:  Group JJ Step 5 $99,778

 

NOMINATIONS

The Governor placed into nomination the following:

 

Board of Licensing for Alcohol and Other Drug Abuse Professionals

(Office of Alcohol and Drug Policy)

Joseph P. Harding, Chester                                                                                Effective:  Upon confirmation

Succeeding:  Mary Dube, Epsom (reached term limit)                                   Term:  January 28, 2010

 

Amusement Ride Safety Advisory Board

(Water Park Operator)

Tom Brady, Jefferson                                                                                          Effective:  Upon confirmation

Vacancy                                                                                                                 Term:  2 yrs from confirmation

 

Amusement Ride Safety Advisory Board

(Electrical Engineer)

Tyler E. Carlisle, Manchester                                                                             Effective:  Upon confirmation

Vacancy                                                                                                                 Term:  3 yrs from confirmation

 

Amusement Ride Safety Advisory Board

(Insurance Professional)

Robert Simpson, Bow                                                                                          Effective:  Upon confirmation

Vacancy                                                                                                                 Term:  1 yr from confirmation

 

Assessing Standards Board

(Public Member)

Eugene T. Reed, Nottingham                                                                             Effective:  June 2, 2007

Reappointment                                                                                                     Term:  June 2, 2009

 

Electricians Board

(Master Electrician)

Thomas J. Malley, Nashua                                                                                 Effective:  June 30, 2007

Reappointment                                                                                                     Term:  June 30, 2012

 

NH Housing Finance Authority

(Experienced in Construction of Single Family Real Estate)

John T. Eller, (d), Newbury                                                                                 Effective:  Upon confirmation

Succeeding:  David Frydman, Concord (resigned)                                         Term:  July 1, 2011

 

Board of Nursing

Stephany M. Lavallee, Henniker                                                                       Effective:  Upon confirmation

Succeeding:  Kristine A. Day, Alexandria                                                        Term:  May 11, 2010

 

Board of Nursing

Barbra Brown, Littleton                                                                                       Effective:  Upon confirmation

Succeeding Martha S. Danderson, Berlin                                                        Term:  May 11, 2010

 

Board of Nursing

Mertie L. Potter, Concord                                                                                   Effective:  Upon confirmation

Reappointment                                                                                                     Term:  May 10, 2010

 

Public Utilities Commission

Thomas B. Getz, Chairman, Manchester                                                          Effective:  July 1, 2007

Reappointment                                                                                                     Term:  July 1, 2013

Salary:  Group JJ maximum, $99,778

 

Real Estate Appraisers Board

(Public Member)

Suzanne M. Foster, Newfields                                                                           Effective:  Upon confirmation

Succeeding:  Sally Sullivan, Concord (resigned)                                            Term:  September 16, 2008

 

Real Estate Appraisers Board

(Public Member)

Kevin A. McCue, Manchester                                                                           Effective:  Upon confirmation

Succeeding:  Michael F. Whiby, Manchester                                                 Term:  May 13, 2010

 

State-Capital Region Planning Commission

Deborah de Peyster, Concord                                                                            Effective:  Upon confirmation

Succeeding:  Robert C. Washburn, Concord                                                  Term:  Serves at G&C pleasure

 

Department of Resources and Economic Development Advisory Commission

(Agriculture)

Diane Souther, (r), Concord                                                                               Effective:  Upon confirmation

Succeeding:  Richard D. Greeley, Wilton                                                         Term:  April 1, 2012

 

Speech Language Pathology Governing Board

(Public Member)

Nancy H. Rescino, Bow                                                                                      Effective:  Upon confirmation

Succeeding:  Mariellen Mackay, Nashua (resigned)                                      Term:  March 4, 2009

 

Assistant Commissioner: Department of Transportation

Nominated by the Commissioner of the Department of Transportation

David J. Brillhart, Concord                                                                                 Effective:  Upon confirmation

Reappointment                                                                                                     Term:  February 28, 2010

Salary:  Group KK maximum, $102,365

 

Transportation Appeals Board

(Professional Engineer)

H. Edmund Bergeron, North Conway                                                               Effective:  Upon confirmation

Reappointment                                                                                                     Term:  April 23, 2010

 

Volunteer NH Board of Directors

Lisa C. Michaud, Manchester                                                                            Effective:  Upon confirmation

Vacancy                                                                                                                 Term:  3 yrs from confirmation

 

Water Council

(Industrial Interests)

Christopher M. Rawnsley, Antrim                                                                    Effective:  Upon confirmation

Succeeding:  Wayne L. Patenaude, Hopkinton                                              Term:  September 17, 2009

 

                                BUSINESS FINANCE AUTHORITY

#1            The Governor and Executive Council on motion of Councilor Burton, seconded by Councilor Hollingworth and further on a roll call vote as follows: Councilor Burton – yes, Councilor Shea – yes, Councilor Hollingworth – yes, Councilor Wieczorek – yes, and Councilor Pignatelli – yes, authorized to hold a Public Hearing with respect to the financing of a commercial facility by the Business Finance Authority for Senior Housing of New Hampshire, Inc. located in Meredith, New Hampshire. Action will Authorized a Resolution under RSA 162-I:9 to determine the financing will serve a public use, provide public benefit and is within the policy and authority of the Act.

 

EXTRACT FROM THE MINUTES OF THE MEETING OF THE

GOVERNOR AND COUNCIL HELD ON MAY 2, 2007 AT 10:00 A.M.

IN THE COUNCIL CHAMBER, STATE HOUSE, CONCORD

*   *   *   *   *   *   *

At 10:35 the Governor announced that the next matter to be considered would be the financing and refinancing of commercial facility projects by the Business Finance Authority for Senior Housing of New Hampshire, Inc. (the “Borrower”) in Meredith, New Hampshire and declared that the public hearing on the subject had commenced.  He said that he and the members of the Council had received the written recommendation of the Authority and other documentation and information with respect to the project. The Governor said that the meeting would then hear anyone wishing to speak on the subject. Jack Donovan, Executive Director of the Authority, briefly explained the project and emphasized that the credit of the State was not involved.   The Governor then repeated that the proceedings were a public hearing and asked whether any other person wished to speak; Joe Haas had a question regarding the State’s ability to guarantee private debt.  There being no further comments, Councilor Burton introduced a resolution entitled "A RESOLUTION UNDER RSA 162-1:9 WITH RESPECT TO THE ISSUANCE OF UP TO $18,500,000 REVENUE BONDS BY THE BUSINESS FINANCE AUTHORITY OF THE STATE OF NEW HAMPSHIRE TO FINANCE A COMMERCIAL FACILITY FOR SENIOR HOUSING OF NEW HAMPSHIRE, INC. IN MEREDITH, NEW HAMPSHIRE" and moved its adoption, which was seconded by Councilor Hollingworth.  After discussion of the resolution, the Governor called for a vote on the motion.  Those voting in favor were: the Governor and Councilor Burton, Councilor Shea, Councilor Hollingworth, Councilor Wieczorek, and Councilor Pignatelli; those abstaining were Councilor(s): None; and those voting against were Councilor(s):  None.  The Governor declared that the resolution was passed.

 

 

A RESOLUTION UNDER RSA 162-I:9 WITH RESPECT TO THE ISSUANCE OF UP TO $18,500,000 REVENUE BONDS BY THE BUSINESS FINANCE AUTHORITY OF THE STATE OF NEW HAMPSHIRE TO FINANCE A COMMERCIAL FACILITY FOR SENIOR HOUSING OF NEW HAMPSHIRE, INC. IN MEREDITH, NEW HAMPSHIRE

 

                WHEREAS, the Governor and Council have received from the Business Finance Authority of the State of New Hampshire (the “Authority”) its written recommendation that the Governor and Council make certain findings and a determination under RSA 162-I:9 with respect to the financing of a commercial facility for Senior Housing of New Hampshire (the “Borrower”), in Meredith, New Hampshire, by the Authority’s issuance of up to $18,500,000 in revenue bonds (the “Bonds”) under RSA 162-I:1 et seq. (the “Act”); and

 

                WHEREAS, the Governor and council have received all of the documentation and information with respect to the proposed transaction that they have requested; and

 

                WHEREAS, further action by the Authority with respect to the proposed transaction is subject to, and cannot be taken until passage of, this Resolution;

 

                NOW, THEREFORE, in consideration of the foregoing, IT IS HEREBY RESOLVED THAT:

 

                Section 1.               Findings.  On the basis of the Authority’s recommendation and the documentation and information received by the Governor and Council, and after a public hearing, the Governor and Council find:

 

 

                (a)           Special Findings.

 

(1)           The project to be financed with the proceeds of the Bonds consists of i) the construction of a 90,000 square-foot, 80-unit independent living facility with services, of which 20 units are for people with Alzheimer’s Disease on Mile Point Road in Meredith, New Hampshire, ii) payment of capitalized interest on the Bonds, iii) funding of a deposit to the Capital and Maintenance Reserve Fund; iv) paying a portion of start-up costs and costs of operation and maintenance during the construction period and a reasonable period thereafter; and v) paying issuance costs (collectively, the “Facility” or “Project”).  The Facility is within the definition of “Commercial Facility” in RSA 162-I:2 and may be financed under the Act.

 

(2)           The establishment and operation of the Facility will create or preserve employment opportunities directly or indirectly within the State of New Hampshire (the “State”) and will likely be of general benefit to the community as a whole.

 

 

                b.             General Findings.

 

                                (1)           The Project and the proposed financing of the Project are feasible.

 

(2)           The Borrower has the skills and financial resources necessary to operate the Facility successfully.

 

 

 

(3)           The Trust Indenture, the Loan Agreement, the Mortgage and the other documents to be executed in connection with the issuance of the Bonds (collectively, the “Financing Documents”), contain provisions so that under no circumstances will the Authority be obligated, directly or indirectly, to pay Project costs, debt service or expenses of operation, maintenance and upkeep of the Facility except from proceeds of the Bonds or from funds received under the Financing Documents, exclusive of funds received under the Financing Documents by the Authority for its own use.

 

(4)           The Financing Documents do not purport to create any debt of the State with respect to the Facility, other than a special obligation of the Authority acting on behalf of the State under the Act.

 

(5)           The proposed financing of the Project by the Authority and the proposed operation and use of the Facility will serve one or more needs and implement one or more purposes set forth in RSA 162-I:1, will preserve or increase the social or economic prosperity of the State and one or more of its political subdivisions, and will promote the general welfare of the State’s citizens.

 

                Section 2.               Ultimate Finding and Determination.  The Governor and Council find that the proposed financing, operation and use of the Facility will serve a public use and provide a public benefit and determine that the Authority’s financing of the Project will be within the  policy of, and the authority conferred by, the Act.

 

                Section 3.               Approval.  The Governor and Council hereby approve the Authority’s taking such further action under the Act with respect to the transaction involving the Facility, the Project and the Bonds as may be requested.

 

                Section 4.               Effective Date.  This Resolution shall take effect upon its passage.

 

Passed and Agreed to:  May 2, 2007.

 

 

#2            The Governor and Executive Council on motion of Councilor Shea, seconded by Councilor Wieczorek and further on a roll call vote as follows: Councilor Burton – yes, Councilor Shea – yes, Councilor Hollingworth – yes, Councilor Wieczorek – yes, and Councilor Pignatelli – yes, authorized to hold a Public Hearing to approve an award of a State Guarantee under RSA 162-A:13 with respect to a loan from The Business Development Company to Vitex Corporation or its nominee in Franklin, New Hampshire. Action will Authorized a Resolution under RSA 162-A:18 to determine the financing will serve a public use, provide public benefit and is within the policy and authority of the Act.

 

EXTRACT FROM THE MINUTES OF THE MEETING OF THE

GOVERNOR AND COUNCIL HELD ON MAY 2, 2007

COUNCIL CHAMBER, CONCORD, NEW HAMPSHIRE

 

*                              *                              *                              *                              *                              *             

                At approximately 10:38 a.m., the Governor announced that the next matter to be considered would be the award of a State guarantee under the Guaranteed Asset Program of the Business Finance Authority in connection with a loan to be made by The Business Development Corporation to Vitex Corporation or its Nominee and declared that the public hearing on the subject had commenced.  He said that he and the members of the Council had received written material from the Authority with respect to the proposed loans and State guarantee.  The Governor then said that the meeting would hear anyone wishing to speak on the subject and introduced Jack Donovan, Executive Director of the Authority who briefly explained the project. The Governor then repeated that the proceedings were a public hearing and asked whether any other person wished to speak; Joes Haas questioned the certificate required under RSA 162-A:13, III (b).  There being no further comments, Councilor Shea introduced a resolution entitled "A RESOLUTION UNDER RSA 162-A:18 AWARDING A STATE GUARANTEE UNDER RSA 162-A:13  WITH RESPECT TO A LOAN FROM THE BSINESS DEVELOPMENT CORPORATION TO VITEX CORPORATION OR ITS NOMINEE." and moved its adoption, which was seconded by Councilor Burton.  There being no discussion, the Governor called for a vote on the motion.  Those voting in favor were: the Governor and Councilor Burton, Councilor Shea, Councilor Hollingworth, Councilor Wieczorek, and Councilor Pignatelli; those abstaining were:  None; and those voting against were:  None.  The Governor declared that the resolution was passed.

 

*                              *                              *                              *                              *                              *

 

A RESOLUTION UNDER RSA 162-A:18 AWARDING A STATE GUARANTEE

UNDER RSA 162-A:13 WITH RESPECT TO A LOAN FROM

THE BUSINESS DEVELOPMENT COMPANY TO VITEX CORPORATION

OR ITS NOMINEE

 

                WHEREAS, the Governor and Council (the "Governor and Council") of the State of New Hampshire (the "State") have received from the Business Finance Authority of the State of New Hampshire (the "Authority") its written recommendation that the Governor and Council make certain findings and determinations pursuant to RSA 162-A:18 with respect to the award of a guarantee of the Authority in an amount equal to eighty percent (80%) of the principal amount of a loan up to $2,250,000 from The Business Development Company to Vitex Corporation or its nominee pursuant to RSA 162-A:13 (the Guaranteed Asset Program or the "GAP Program");

 

                WHEREAS, the proposed guarantee would require the pledge of the full faith and credit of the Authority in an amount not to exceed eighty percent (80%) of the proposed financing;

 

                WHEREAS, pursuant to the provisions of RSA Chapter 162-A, the Governor and Council is authorized to approve the recommendation of the Authority and to award the recommended guarantee upon the making of specific findings after public hearing;

 

                WHEREAS, the Governor and Council have received all the documentation and information with respect to the proposed award of the Authority's guarantee which they have requested; and

 

                WHEREAS, further action by the Authority with respect to the proposed transaction is subject to the passage of this resolution and cannot be taken until after its passage;

 

                NOW, THEREFORE, IT IS HEREBY RESOLVED THAT:

 

1.                    Findings and Determinations.  On the basis of the documentation and information received by the Governor and Council, and after a public hearing, the Governor and Council find:

2.                     

                                (a)           Special Findings.

 

                                                (i)            The award of the guarantee as proposed will contribute significantly to the success of the financing.

 

                                                (ii)           Reasonable and appropriate measures have been taken to minimize the risk of loss to the Authority and insure that any private benefit from the award of the guarantee will be only incidental to the public purpose served thereby.

 

                                (b)           General Findings.

 

                                                (i)            The award of the guarantee as proposed will serve a public use and provide a public benefit.

 

                                                (ii)           The award of the guarantee as proposed is within the policy of, and the authority conferred by RSA Chapter 162-A.

 

                                                (iii)          The award of the guarantee as proposed will preserve or increase the social welfare or economic prosperity of the state and one or more of its political subdivisions, and will promote the general welfare of the state's citizens.

 

                                                (iv)          The award of the guarantee as proposed will promote the orderly development of business activities, create or preserve employment opportunities, or protect the physical environment.

 

                2.             Approval.  The Governor and Council approve the Authority's taking such further action under the Act with respect to the award of the guarantee as may be required and authorize the Authority to take such further action with respect to such proposed execution as is necessary and appropriate to carry out the proposed transaction.

 

                3.             Effective Date.  This resolution shall take effect upon its passage.

 

Passed and Agreed to May 2, 2007.

 

 

#3            The Governor and Executive Council on motion of Councilor Burton, seconded by Councilor Pignatelli and further on a roll call vote as follows: Councilor Burton – yes, Councilor Shea – yes, Councilor Hollingworth – yes, Councilor Wieczorek – yes, and Councilor Pignatelli – yes, authorized to hold a Public Hearing with respect to the financing of a commercial facility by the Business Finance Authority for Alice Peck Day Health Systems Obligated Group located in Lebanon, New Hampshire. Action will Authorized a Resolution under RSA 162-I:9 to determine the financing will serve a public use, provide public benefit and is within the policy and authority of the Act.

 

EXTRACT FROM THE MINUTES OF THE MEETING OF THE

GOVERNOR AND COUNCIL HELD ON MAY 2, 2007 AT 10:00 A.M.

IN THE COUNCIL CHAMBER, STATE HOUSE, CONCORD

 

*   *   *   *   *   *   *

 

At 10:45 the Governor announced that the next matter to be considered would be the financing and refinancing of commercial facility projects by the Business Finance Authority for Alice Peck Day Health Systems Corp., Alice Peck Day Memorial Hospital and Alice Peck Day Lifecare Center, Inc. (collectively, the “Obligated Group”) in Lebanon, New Hampshire and declared that the public hearing on the subject had commenced.  He said that he and the members of the Council had received the written recommendation of the Authority and other documentation and information with respect to the project. The Governor said that the meeting would then hear anyone wishing to speak on the subject. Jack Donovan, Executive Director of the Authority, briefly explained the project and emphasized that the credit of the State was not involved. The Governor then repeated that the proceedings were a public hearing and asked whether any other person wished to speak; Joe Haas questioned whether the State Treasurer should be on the BFA Board of Directors.  There being no further questions, Councilor Burton introduced a resolution entitled "A RESOLUTION UNDER RSA 162-1:9 WITH RESPECT TO FINANCING OF COMMERCIAL FACILITIES BY THE BUSINESS FINANCE AUTHORITY FOR THE ALICE PECK DAY HEALTH SYSTEMS CORPORATION, ALICE PECK DAY MEMORIAL HOSPITAL AND ALICE PECK DAY LIFECARE CENTER, INC. IN LEBANON" and moved its adoption, which was seconded by Councilor Wieczorek.  After discussion of the resolution, the Governor called for a vote on the motion.  Those voting in favor were: the Governor and Councilor Burton, Councilor Shea, Councilor Hollingworth, Councilor Wieczorek, and Councilor Pignatelli; those abstaining were Councilor(s): None; and those voting against were Councilor(s):  None.  The Governor declared that the resolution was passed.

 

*   *   *   *   *   *   *

A RESOLUTION UNDER RSA 162-I:9 WITH RESPECT TO THE FINANCING

OF COMMERCIAL FACILITIES BY THE BUSINESS FINANCE

AUTHORITY FOR THE ALICE PECK DAY HEALTH SYSTEMS CORPORATION, ALICE PECK DAY MEMORIAL HOSPITAL AND ALICE PECK DAY LIFECARE CENTER, INC.,

IN LEBANON

 

WHEREAS, the Governor and Council have received from the Business Finance Authority (the “Authority”) its written recommendation that the Governor and Council make certain findings and a determination pursuant to RSA 162-I:9 with respect to the financing and refinancing of commercial facilities (the “Facilities”) for Alice Peck Day Health Systems Corporation, Alice Peck Day Memorial Hospital and Alice Peck Day Lifecare Center, Inc. (collectively, the “Obligated Group”) in Lebanon by the Authority’s issue of Revenue Bonds (Alice Peck Day Health System Obligated Group Issue) in one or more series (collectively, the “Bonds”) in an aggregate amount not to exceed $43,000,000 under RSA 162-I (the “Act”);

 

WHEREAS, the Governor and Council have received all the documentation and information with respect to the transaction which they have requested; and

 

WHEREAS, further action by the Authority with respect to the transaction is subject to the passage of this resolution and cannot be taken until after its passage;

 

IT IS HEREBY RESOLVED THAT:

 

Section 1.               Findings.  On the basis of the Authority’s recommendation and the documentation and information received by the Governor and Council, and after a public hearing, the Governor and Council find:

 

(a)           Special findings:

 

                                (1)           The Bonds will be used to finance and refinance certain projects to be owned or leased and operated by the members of the Obligated Group.  The Bonds are being issued to refund the Business Finance of the State of New Hampshire Revenue Bonds (Alice Peck Day Health Systems Obligated Group Issuance) Series 1999A and Series 1999B (the “Refunded Bonds”) and to finance a new facility for Harvest Hill (Lifecare) consisting of 69 independent living units and related facilities.  The Refunded Bonds financed and refinanced certain hospital facilities and equipment, acquisition, construction, renovation and equipping of a 24-unit facility for Harvest Hill (Lifecare) and refinanced other debt of the Obligated Group.  The Project is a “commercial facility” within the meaning of RSA 162-I:2, III-a (the “Act”) and may therefore be financed under the Act.

 

(2)        The operation of the Facility will preserve and create employment opportunities directly and indirectly within the State of New Hampshire.

 

(b)           General findings:

 

(1)        The Project and the proposed financing and refinancing of the Project are feasible;

 

(2)        The Borrower has the skills and financial resources necessary to operate the Facility successfully;

 

(3)        The LOAN AND TRUST AGREEMENT for the Bonds (is a combined financing document and security document, hereinafter called the “Agreement”) contains provisions so that under no circumstances will the Authority be obligated directly or indirectly to pay project costs, debt service or expenses of operation, maintenance and upkeep of the Facility except from Bond proceeds or from funds received under the Agreement, exclusive of funds received thereunder by the Authority for its own use;

 

(4)        The Agreement does not purport to create any debt of the State with respect to the Facility, other than a special obligation of the Authority acting on behalf of the State under the Act; and

 

 

(5)        The proposed financing of the Project by the Authority and the operation and use of the Facility will serve one or more needs and implement one or more purposes set forth in RSA 162-I: 1, will preserve or increase the social or economic prosperity of the State and one or more of its political subdivisions, and will promote the general welfare of the State’s citizens.

 

Section 2.               Ultimate Finding and Determination.  The Governor and Council find that the proposed financing, operation and use of the Facility will serve a public use and provide a public benefit, and the Governor and Council determine that the Authority’s financing of the Project will be within the policy of, and the authority conferred by, the Act.

 

Section 3.               Approval.  The Governor and Council approve the Authority’s taking such further action under the Act with respect to the transaction as may be required.

 

Section 4.               Effective Date.  This resolution shall take effect upon its passage. 

 

Passed and Agreed to May 2, 2007.

 

 

                                GOVERNOR’S COMMISSION ON DISBILITIES

#3A        The Governor and Council on motion of Councilor Wieczorek, seconded by Councilor Burton authorized the request to accept and expend $5,156 in Federal Funds for the Client Assistance Program.  Effective upon G&C approval through June 30, 2007.  100% Federal Funds.