NH HB1147

Reinstates prior requirements for using capital reserve funds to make multiple payments under lease/purchase financing agreements

Requires that lease/purchase agreements used with capital reserve funds must not contain an "escape clause" or "non-appropriation clause"

Mandates that lease/purchase agreements be ratified by the legislative body with a 2/3 vote by ballot of all voters present at an annual or special meeting

Maintains the existing allowance for capital reserve funds to be used for multiple payments under general financing agreements for the fund's established purpose

Takes effect 60 days after passage