RSA 369-B:5 Issuance of Rate Reduction Bonds.

I. An electric utility or financing entity may, from time to time, after approval by the commission in a finance order or orders, issue rate reduction bonds. The power and authority of such electric utility or financing entity to issue such bonds authorized by a finance order pursuant to RSA 369-B:3, IV(a) or (b) shall expire on December 31, 2002.
II. A finance order or finance orders shall direct that the proceeds from the issuance of rate reduction bonds shall be applied only for such purposes approved in such finance order and the financing entity and the electric utility shall apply such proceeds only for such purposes. Rate reduction bonds may qualify for tax-exempt status to the full extent of state and federal law.
III. Notwithstanding any other provision of law,