TITLE I
THE STATE AND ITS GOVERNMENT

Chapter 6-B
INVESTMENT AND DEBT MANAGEMENT

Section 6-B:1

    6-B:1 Office of Investment and Debt Management. – There is established within the state treasury an office of investment and debt management which shall be under the executive direction of a deputy treasurer appointed by the treasurer. The deputy treasurer shall be a person qualified by training and experience and shall serve at the pleasure of the treasurer.

Source. 1983, 419:5, eff. June 24, 1983.

Section 6-B:2

    6-B:2 Duties of Office. –
The office of investment and debt management shall, subject to any restrictions in RSA 6 and RSA 6-A, assist the treasurer in performing functions and duties as follows:
I. Analyze and manage short-term and long-term cash flow requirements.
II. Maximize the returns on state investments, considering cash flow and liquidity requirements.
III. Coordinate and monitor cash needs for investment and debt activity.
IV. Develop a long-term debt plan, including criteria for the issuance of debt and an evaluation of how much total debt is justified.
V. Evaluate revenue projections for each proposed revenue bond issue and report findings to the governor and the capital project overview committee.
VI. Advise the general court on all investment and debt matters, including, but not limited to, new bond issues, the status of state debt, and the status of state investments.
VII. Report quarterly or more often if required to the governor and council, the commissioner of administrative services and the joint legislative fiscal committee the total amount of funds in the treasury, the amount belonging to each separate fund, a summary of the funds on deposit and the investments held, and the interest income earned thereon, and any information pertaining to the duties of his office he may think proper or the governor or legislature may require.
VIII. Perform all other functions of the state treasury relative to state investment and debt management, including, but not limited to, the making of debt service payments, the sale of bonds, and the preparation of policies for the investment of state funds for yearly review and adoption by the state treasurer.

Source. 1983, 419:5. 1985, 399:3, I. 1996, 209:1, eff. Aug. 9, 1996. 2023, 192:4, eff. Aug. 4, 2023.

Section 6-B:3

    6-B:3 Notification of Proposed Bond Issues. –
I. Notwithstanding any other provisions of state law, for the purpose of coordinating state activity in the bond market, all state and local governmental entities authorized by law to issue bonds, including, but not limited to: all state agencies, the university system of New Hampshire, the New Hampshire municipal bond bank, the New Hampshire housing finance agency, all counties, cities, towns, village districts, school districts, precincts, housing authorities, local development corporations, and any special purpose districts or authorities shall provide the office of investment and debt management with the notification of intent to borrow or issue bonds at the earliest possible date; provided, however, that such issuers shall, no later than 30 days prior to the sale of any debt issue at public or private sale, give written notice of the proposed sale to the office of investment and debt management, by mail, postage prepaid. Failure to give this notice shall not affect the validity of the sale.
II. The treasurer may adopt rules pursuant to RSA 541-A concerning the information to be included in and the form of notifications required under paragraph I.

Source. 1983, 419:5. 1985, 357:7. 1997, 208:4, eff. Aug. 17, 1997.

Section 6-B:4

    6-B:4 Informational Clearinghouse. –
The treasurer through the office of investment and debt management shall:
I. Collect, maintain, and provide information on state and local debt authorized, sold, and outstanding and serve as an information center for all state and local debt issues.
II. Upon request of any state or local government unit assist in the planning, preparation, marketing and sale of new debt issues to reduce costs and to ensure the protection of the issues and of the state's credit.
III. Maintain contact with state and municipal bond issuers, underwriters, credit rating agencies, investors, and others to improve the market for state and local government debt issues.
IV. Recommend changes in state law and local practices to improve the sale and servicing of state and local debt.

Source. 1985, 357:7, eff. June 18, 1985.