Reserve Policy

Refunding Policy

Policy for Monitoring Credit Quality of Borrowers

Late Payment Policy

Investment Policy

Investment Policy Resolutions

Internal Control Procedures

Disaster Recovery Plan


Bond Bank Facts: Click here for pdf version of the following

-Created in 1977 by the New Hampshire State Legislature
-Non-Profit agency; a political subdivision of the State
-Operated by a 5-member Board of Directors, including the State Treasurer
-Full-Time Staff of 2, and 1 Part-Time

-Loans to NH Towns, Cities, Counties, School Districts & other Districts: $2.4 Billion since 1977
-Number of individual loans: 1,188
-Participants: 327
-Largest individual loan: $49,682,000
-Smallest individual loan: $19,000

Interest Rate Coupon Range Last Bond Issue: 3.10% - 5.10%
(from the June 2014 bond issue)

Approximate True Interest Costs Last Bond Issue:

5 Year Loan 1.47% (from the June 2014 bond issue)

10 Year Loan 2.49%
15 Year Loan 2.80%
20 Year Loan 3.48%
30 Year Loan N/A%

Services Offered:

-Long-Term loans through bond issues
-Financial Advisory Services on Bond Anticipation Notes (BANs)
-Debt service schedules in anticipation of meetings
-We attend meetings in your community


-Bonds $1,500-$25,000 (one-time, all-inclusive except for your Bond Counsel)
-BANs call for fee

Bond Issues:

June bond sale with July closing
January bond sale with February closing (depending on volume of applications)

Benefits to Participating Communities:

-Reduced Time Requirements
-Low Cost of Issuance
-Competitive Interest Rates
-Streamlined Disclosure & Borrowing Process
-Technical Assistance Always Available
-Strong Credit Ratings


AA assigned by Standard & Poor’s on 5/28/14
Aa3 assigned by Moody’s Investors Service on 5/30/14

Financial Advisor: First Southwest Company

Bond Counsel: Edwards Wildman Palmer LLC

Trustee/Paying Agent: People’s United Bank

Auditor: Baker, Newman & Noyes

Bond Issue Schedule: January 2015 June 2015-Tentative
Application Deadline: November 7, 2014 April 3, 2015
Bonds Priced: January 13, 2015 June 10, 2015
Participants Receive Funds: February 4, 2015 July 16, 2015
First Interest Payment Date: August 15, 2015 February 15, 2016
First Principal Payment Date: February 15, 2016 August 15, 2016

Bond Bank Loan Volume Last 10 Years:

2013 $53 million
2012 $72 million
2011 $78 million
2010 $101 million
2009 $76 million
2008 $53 million
2007 $80 million
2006 $73 million
2005 $127 million
2004 $96 million

Refundings (Refinancings): The Bond Bank has refunded bonds 18 times, returning over $33 million in savings to participating communities.

Purposes of Loans: Schools, Town Halls, Libraries, Police & Fire Stations, DPW & other Public Buildings, Water Systems, Sewer Systems, Landfills, Roads, Fire Trucks, Ambulances, Conservation Land, Court Judgements, Electric Systems, etc.

 Updated June 21, 2015