RSA 195-C:3 Definition and Limit of Split Issue Guarantee.

An award of a state guarantee on a split-issue basis under RSA 195-C:2 shall specify the face amount of the bonds or notes which shall comprise the guarantee portion of the total authorized borrowing, and such guarantee shall be applicable with respect to that amount of the bonds or notes and interest on such bonds or notes. The guaranteed portion of the total authorized borrowing shall not exceed 75 percent thereof. Bonds or notes bearing a state guarantee awarded on a split-issue basis shall be offered and sold at public sale, after such advertisement as the school board deems appropriate, as a separate and distinct issue from any issue of bonds or notes which are not guaranteed by the state. All state guaranteed bonds or notes issued to finance a particular project shall be made payabl