The New Hampshire School Building Authority was established by statute (RSA 195-C) in 1964.  The authority is authorized to issue a state guarantee of the borrowings of school districts in excess of $100,000 for the construction, alteration, or enlargement of school buildings.  Up to 75% of the amount borrowed by a school district may be guaranteed by the state.  The total of all state guaranteed school construction may not exceed $95 million.

The members of the New Hampshire School Building Authority are the State Treasurer (or designee), the Commissioner of Education (or designee), and three members appointed by the Governor for terms of three years each. 

The Office of School Building Aid provides administrative and technical support.  The New Hampshire Municipal Bond Bank also provides technical advice. 

A state guarantee will result in lower interest payments on school construction project financing if the state's bong rating is higher than the school districts.  School districts with bond ratings higher than the state's will not benefit from a state guarantee.  

School districts may apply for a state guarantee after the bond sale has been approved by the legislative body of the district and after the construction project has been approved for School Building Aid by the Department of Education.   There is a $100 service charge. 

Contact the Office of School Building Aid at (603) 271-2037 for additional information.