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PRELIMINARY OFFICIAL STATEMENT DATED AUGUST 18, 2010NEW ISSUE – Book Entry Only Ratings: Fitch Ratings: AA+Moody’s: Aa1Standard & Poor’s: AA(See “RATINGS”)
In the opinion of Edwards Angell Palmer & Dodge LLP, Bond Counsel, based upon an analysis of existing law and assuming, among other matters, compliance with certain covenants, interest on the Bonds issued as tax-exempt bonds isexcluded from gross income for federal income tax purposes under the Internal Revenue Code of 1986. Interest on the Bondsissued as tax exempt bonds is not a specific preference item for purposes of the federal individual or corporate alternativeminimum taxes, and such interest is not included in adjusted current earnings when calculating corporate alternativeminimum taxable income. Interest on any Series C Bonds issued as Federally Taxable Build America Bonds (Direct Payment) is included in the gross income of the owners thereof for federal income tax purposes. Under existing law, interest on the Bonds is exempt from the New Hampshire personal income tax on interest and dividends. Bond Counsel expresses noopinion regarding any other tax consequences related to the ownership or disposition of, or the accrual or receipt of interest on, the Bonds. (See “TAX MATTERS” and Appendix A herein.)
$150,000,000
*
STATE OF NEW HAMPSHIREGENERAL OBLIGATION CAPITAL IMPROVEMENT BONDS
$90,000,000
*
2010 SERIES BAND$60,000,000
*
2010 SERIES C
Dated: Date of Delivery Due: as shown on the inside cover hereof The Bonds will be issued as fully registered bonds, registered in the name of Cede & Co., as nominee for TheDepository Trust Company (“DTC”). Purchases of beneficial interests in the Bonds will be made in book-entry form(without certificates) in the denomination of $5,000 or any integral multiple thereof. (See “THE BONDS--Book-Entry OnlySystem” herein.)Interest on the Bonds will be payable semiannually on June 1 and December 1 of each year, commencingDecember 1, 2010 until maturity or redemption prior to maturity. The Series B Bonds are not subject to redemption prior tomaturity. The Series C Bonds are subject to redemption prior to maturity as provided herein.
The Bonds are offered for sale in accordance with the official Notices of Sale each dated August 18, 2010 towhich reference is made for the conditions of such sale. Each maturity of the Series C Bonds may be awarded aseither tax-exempt bonds or Federally Taxable Build America Bonds (Direct Payment) as described herein under“Competitive Sale of Bonds” and in accordance with the Notice of Sale for the Series C Bonds which is contained inAppendix C attached hereto.
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The Bonds are offered subject to the final approving opinion of Edwards Angell Palmer & Dodge LLP, Boston, Massachusetts, Bond Counsel, and to certain other conditions referred to in the Notices of Sale. Public Resources AdvisoryGroup has acted as Financial Advisor to the State with respect to the Bonds. Delivery of the Bonds to DTC or its custodialagent is expected on or about September 2, 2010.
August , 2010
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Preliminary, subject to change.
T h i s P r e l i m i n a r y O f f i c i a l S t a t e m e n t a n d t h e i n f o r m a t i o n c o n t a i n e d h e r e i n a r e s u b j e c t t o c o m p l e t i o n o r a m e n d m e n t . U n d e r n o c i r c u m s t a n c e s s h a l l t h i s P r e l i m i n a r y O f f i c i a l S t a t e m e n t c o n s t i t u t e a n o f f e r t o s e l l o r t h e s o l i c i t a t i o n o f a n o f f e r t o b u y n o r s h a l l t h e r e b e a n y s a l e o f t h e s e s e c u r i t i e s i n a n y j u r i s d i c t i o n i n w h i c h s u c h o f f e r , s o l i c i t a t i o n o r s a l e w o u l d b e u n l a w f u l p r i o r t o r e g i s t r a t i o n o r q u a l i f i c a t i o n u n d e r t h e s e c u r i t i e s l a w s o f a n y s u c h j u r i s d i c t i o n .
$150,000,000
*
STATE OF NEW HAMPSHIREGENERAL OBLIGATION CAPITAL IMPROVEMENT BONDS
$90,000,000
*
2010 SERIES B
DueJune 1PrincipalAmount
*
InterestRatePrice orYieldCUSIP
**
644682DueJune 1PrincipalAmount
*
InterestRatePrice orYieldCUSIP
**
6446822012 $10,000,000 2017 $10,000,0002013 10,000,000 2018 10,000,0002014 10,000,000 2019 10,000,0002015 10,000,000 2020 10,000,0002016 10,000,000
$60,000,000
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2010 SERIES C
***
DueJune 1PrincipalAmount
*
InterestRatePrice orYieldCUSIP
**
644682DueJune 1PrincipalAmount
*
InterestRatePrice orYieldCUSIP
**
6446822021 $6,000,000 2026 $6,000,0002022 6,000,000 2027 6,000,0002023 6,000,000 2028 6,000,0002024 6,000,000 2029 6,000,0002025 6,000,000 2030 6,000,000
*
Preliminary, subject to change.
**
CUSIP is a registered trademark of the American Bankers Association. CUSIP data herein is provided by CUSIPGlobal Services, managed by Standard & Poor’s Financial Services LLC on behalf of The American BankersAssociation. The CUSIP numbers are included solely for the convenience of Bondowners and the State is notresponsible for the selection or the correctness of the CUSIP numbers printed herein. CUSIP numbers assigned tosecurities may be changed during the term of such securities based on a number of factors, including, but not limited to,the refunding or defeasance of such securities or the use of secondary market financial products.
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The Series C Bonds may be awarded as either tax-exempt Bonds or Federally Taxable Build America Bonds(Direct Payment) on a maturity by maturity basis as described herein under “Competitive Sale of Bonds” and inaccordance with the Notice of Sale for the Series C Bonds which is contained in Appendix C attached hereto.
i
No dealer, broker, salesperson or other person has been authorized by the State of New Hampshire to give anyinformation or to make any representations with respect to the State or the Bonds, other than those contained in thisOfficial Statement, and, if given or made, such other information or representations must not be relied upon as havingbeen authorized by the State of New Hampshire.This Official Statement is not to be construed as a contract or agreement between the State of New Hampshireand the purchasers or owners of any of the Bonds. Any statements made in this Official Statement involving matters of opinion, whether or not expressly so stated, are intended merely as opinion and not a representation of fact. Theinformation and expressions of opinion contained herein are subject to change without notice and neither the deliveryof this Official Statement nor any sale made hereunder shall, under any circumstances, create any implication that therehas been no change in any of the information set forth herein since the date hereof.This Official Statement is provided only in connection with the sale of the Bonds by the State of NewHampshire pursuant to the Notices of Sale dated August 18, 2010 and may not be reproduced or used in whole or inpart for any other purpose without the express written consent of the State Treasurer. Reference is made to the Noticesof Sale for a description of the terms and conditions of the sale of the Bonds to the original purchasers thereof.
TABLE OF CONTENTS
PART I: INFORMATION CONCERNING THE BONDSTHE BONDS.............................................................2
Description of the Bonds......................................2
Build America Bonds............................................2
Redemption Provisions – Series B Bonds.............2
Redemption Provisions – Series C Bonds.............3
Security for the Bonds..........................................5
Authorization, Purpose and Application of Proceeds................................................................5
Book-Entry Only System......................................5
Tax-Exempt Bonds...............................................7
Federally Taxable Build America Bonds (DirectPayment)...............................................................8
PART II. STATE OF NEW HAMPSHIRE INFORMATION STATEMENT DATED AUGUST 18, 2010STATEMENT PURSUANT TO NEW HAMPSHIRE REVISED STATUTES ANNOTATED 421-B:20:IN MAKING AN INVESTMENT DECISION INVESTORS MUST RELY ON THEIR OWN EXAMINATION OFTHE ISSUER AND THE TERMS OF THE OFFERING, INCLUDING THE MERITS AND RISKS INVOLVED.THESE SECURITIES HAVE NOT BEEN RECOMMENDED BY ANY FEDERAL OR STATE SECURITIESCOMMISSION OR REGULATORY AUTHORITY. FURTHERMORE, THE FOREGOING AUTHORITIESHAVE NOT CONFIRMED THE ACCURACY OR DETERMINED THE ADEQUACY OF THIS DOCUMENT.ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
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