RSA 35-A:4 New Hampshire Municipal Bond Bank Established.

I. There is hereby established a public body corporate and politic having a distinct legal existence separate from the state and not constituting a department or agency of the state government to be known as the New Hampshire municipal bond bank. The bank is hereby constituted as an instrumentality exercising public and essential governmental functions, and the exercise by the bank of the powers conferred by this chapter shall be deemed and held to be an essential governmental function of the state.
II. The bank shall consist of 5 directors. The state treasurer shall be an ex officio member without further appointment. Four directors shall be appointed by the governor and council for terms of 5 years each. Of these 4 directors, one shall be a designee of the New Hampshire Muni