Can towns and cities finance the purchase of conservation land through municipal bonds?
A. Yes. Although this has not been common practice, in the last few years several municipalities have approved bond articles for the purchase of land or easements for conservation or other purposes, including the towns of Hollis ($2 million) and North Hampton ($4 million). Even when a town meeting votes in favor of the issuance of bonds for land acquisition according to all the requirements of the Municipal Finance Act (RSA Chapter 33), it is NHMA’s opinion that the law does not grant authority to the selectmen or other town officials to acquire specific parcels without further town meeting approval. This is because RSA 31:3 grants authority to towns (meaning town meeting) to “purchase and hold real estate…” An easement, including a conservation easement, is an interest in land and falls under the same requirements as apply to the acquisition of full title to land. Q. How should a warrant article for issuance of a bond for land acquisition be worded in order to comply with all aspects
