New Hampshire

Decision instrument

The General Court authorizes state bonding. Towns and districts authorize bonds by a three-fifths ballot vote.

What public act authorizes the borrowing, and where is the purpose and the first-year cost written down? RSA 33:8, as amended in 2020. Tax anticipation notes take a majority. A charter can set two-thirds or three-fifths. County bonds sit under RSA 33:10 and are not given the town vote. A particular capital act is not attached here. The 2024–2025 capital budget, Chapter 113, Laws of 2023, authorized about $172 million of bonding authority.

Debt statement

No Annual Debt Statement of the New Jersey kind.

What yearly filing states gross debt, deductions, and how close the issuer is to its limit? State debt is in the annual comprehensive financial report. Town, city, school, and county dollar rows are not attached.

Debt limit

Cities and towns: 3% of valuation. School districts: 7%. Village districts: 1%.

What cap binds a county or a city, and is the state's own ceiling a different rule? RSA 33:4-a. A city’s school debt is capped at 7% and is left out of the city’s 3% cap. The county section, RSA 33:4, is titled as a debt limit, but the public text in hand is only a source note. No county percentage is printed here. No constitutional ceiling on the state’s own general obligation stock is attached.

Conflict rule

Designated public officials file a statement of financial interests. Income over $10,000 from a business role is listed.

Which ethics statute covers local officers, what counts as an interest, and who is left out? RSA 15-A. The filings are public at the Secretary of State. This is not a 10% ownership test. Executive-branch conduct is RSA 21-G:21 through 21-G:27. Legislators file under a different chapter, RSA 14-B. A town or city may adopt its own conflict ordinance under RSA 31:39-a. That ordinance is local, not statewide. County ethics codes are not attached.

Geography

Ten counties.

What is the county-equivalent, and which cities, schools, and authorities must not be pasted onto that row? FIPS 33001 through 33019. Hillsborough has two seats, Manchester and Nashua. Towns, cities, school districts, and village districts are not county rows.

Primary money record

$585.9 million general obligation bonds.

Which audited report is the state's own number, and as of what date? Annual Comprehensive Financial Report, year ended June 30, 2025, transmitted December 23, 2025. The statistical schedule of general bonded debt, in thousands, is $585,931. That is $550.5 million of governmental general obligation bonds plus $35.4 million of business-type general obligation bonds. A Treasury report called the stock $631 million and marked it unaudited. The file uses the audited figure. Bonds and notes authorized but unissued: $653.9 million.

Who pays the coupon

The year ending June 30, 2026 shows $132.7 million of governmental debt service due, net of a federal interest subsidy.

Which fund, tax, or rate is actually pledged — not which new store might show up later? Principal $104.9 million and interest $28.8 million, less $1.0 million of federal interest subsidy. That schedule is not general-obligation-only. It includes the general fund ($46.3 million of principal), the highway fund, direct placements, grant-anticipation bonds, a TIFIA note, and self-supporting debt. It is what is due, not cash paid in fiscal 2025. Business-type debt service due that same year is a separate $21.5 million net.

Other obligors

Turnpike revenue bonds: $198.0 million. Do not add them to the $585.9 million.

Which authorities and districts borrow beside the state and must not be added to its total? Also left out of the general obligation figure: governmental direct-placement bonds $39.5 million, federal highway grant-anticipation bonds $15.9 million, and notes payable $198.5 million, which the repayment schedule lines up with a TIFIA loan. The report names $69.1 million of state debt issued for university and community-college buildings. That amount is not added on top, because the report does not present it as a second obligor outside the state’s own debt. County dollars are blank.

Book-entry wall

Cede & Co., at the Depository Trust Company.

Who is the registered owner on ordinary public paper? Series-level confirmation still waits on that official statement. Beneficial owners stay unnamed.