New Hampshire Municipal Bond Bank.
For over four decades, the New Hampshire Municipal Bond Bank (NHMBB) has been dedicated to empowering communities across the Granite State through accessible, long-term financing solutions. Since our inception in 1978, we’ve been a trusted financial partner, providing loans to local governments to fund essential projects that enhance the quality of life for residents.
At NHMBB, we are driven by a simple goal: to make financing more affordable for municipalities. From schools and town halls to public safety facilities and infrastructure improvements, we offer competitive interest rates and a streamlined application process that removes barriers to capital. Our purpose is to ensure that New Hampshire’s cities and towns can invest in their future with confidence.
Our Schedules
Latest News at NHMBB
NHMBB News
Our January bond sale was held on January 15, 2025. the NH Municipal Bond Bank issued $55,735,000 in bonds to a pool of 9 communities to finance elementary school renovations, a solar array project, water main and leaching fields, a conservation easement, reconstruct a bicentennial wall, IT infrastructure, library repairs, replacement of water mains and the final phase of the Sullivan County Nursing Home project. The true interest rate on these loans were 3.08% on a 5-year loan, 3.25% on a 10-year loan, 3.59% on a 15-year loan and 3.84% on a 20-year loan. If you are interested in reviewing the details of this bond issue, you can find the Final Official Statement for the 2025 Series A bond issue by clicking here.
Board Meeting Notice and Agenda
Application
School Districts, Counties, Village Districts, and Cities please contact Tammy St Gelais or Jill McNeil or call (603) 271-2595 to discuss submitting an application.
Estimated Debt Schedule
The Bond Bank will gladly provide estimated debt schedules. We can provide debt schedules using estimated interest rates for periods of any number of years up to 30. Please keep in mind that bonds should only be issued for periods longer than 20 years when the amount of the loan is substantial (please call us to discuss this further). We can provide level principal schedules (principal payments are equal every year usually resulting in the lowest interest rate. Generally results in higher impact on the tax rate in early years) and level debt schedules (total principal plus interest are equal every year usually resulting in a higher interest cost. Results in constant impact on the tax rate throughout the term). We will provide you with debt schedules for multiple time periods and dollar amounts. Our debt schedules show estimated tax rate impacts where applicable. Although we can usually provide a quicker turn-around time, please request debt schedules 24 hours before you need them. The best way to request debt schedules is to call, fax or e-mail us.
Approved Bond Counsel Firms
DEVINE MILLIMET
Victory Park
111 Amherst Street
Manchester, NH 03101
Renelle L’Huillier
Phone/E-mail: (603) 410-1709, [email protected]
DRUMMOND WOODSUM
84 Marginal Way, Suite 600
Portland, ME 04101
Greg Im
Phone/E-mail: (207)253-0592, [email protected]
670 N. Commercial Street, Suite 207
Manchester, NH 03101
Steven M. Whitley
Phone/Email: (603)792-7434. [email protected]
GRAVEL & SHEA PC
76 St. Paul Street, 7th Floor
Burlington, Vermont 05402
Troutman Pepper Locke
111 Huntington Avenue
At Prudential Center
Boston, MA 02199-7613
Richard Manley, Jr.
Phone/E-mail: (617) 239-0384, richard.manley@troutman.com
Kara Adams
Phone/E-mail: (617)239-0387, kara.adams@troutman.com
PIERCE ATWOOD LLP
One New Hampshire Avenue, Suite 350 | Portsmouth, NH 03801
James Saffian, Esq.
Phone/E-mail: (603)433-6300, [email protected]
PRETI FLAHERTY
P.O. Box 1318 | Concord, NH 03302-1318
Office Address:
57 North Main Street | Concord, NH 03302-1318
James C. Pitney, Jr. | Attorney
Phone/E-mail: (603)410-1549, [email protected]
Mark Puffer | Attorney
Phone/E-mail: (603)410-1500, [email protected]
Bonding Program
Bond Anticipation Notes
To discuss submitting an application please contact Tammy St. Gelais or Jill McNeil or call (603) 271-2595.
Download a Sample Application
Looking to the Future
As we look ahead, NHMBB remains committed to helping New Hampshire’s communities grow and thrive. Our legacy is built on trust, and we are proud to be the first stop for local governments seeking sustainable, long-term financing. We look forward to continuing our work and supporting projects that shape the future of New Hampshire.
WHAT WE DO
NHMBB’s Services
Click On a Tile Below To Learn More About Our Services
Application
Bond Anticipation Notes
Bonding Program
Estimated Debt Schedule
Approved Bond Counsel Firms
Executive Director and Secretary
Tammy J. St. Gelais
Tammy has been with the Bond Bank since August 2000. During this time, she has worked closely with dozens of New Hampshire communities in the issuance of bonds and bond anticipation notes. Prior to this, she was employed by the New Hampshire Municipal Association, American Bankers Life Insurance Company, and Northeast Delta Dental. Tammy is the Training Committee Chairperson for the NH Government Finance Officers Association and the President of the New England States Government Finance Officers Association Board. She is a Certified Public Manager and received her Associates Degree in Accounting from Franklin Pierce University and a Bachelor of Science Degree in Business Management from Granite State College. Tammy is a graduate of the Leadership Greater Concord Program, class of 2017.
Finance Director
Lynne Murphy
Lynne is the newest member of the team at NHMBB. Prior to NHMBB, she was a manager with a Seacoast-based hospitality group and also was the Finance Director and Human Resources Administrator for the Town of Barrington. She is a graduate of the University of New Hampshire, Durham and completed the NHGFOA Certificate Program in 2019.
Assistant Director
Jill McNeil
Jill has been with the Bond Bank since May 2015. Prior to this, she worked for the New Hampshire Federal Credit Union and Citizens Bank. She currently serves as Deputy Treasurer for the Pembroke School District as well as Treasurer and Recording Secretary for the Town of Pembroke. She has a Bachelor’s Degree in Health Promotions with a minor in Accounting from Southern New Hampshire University. Jill has a graduate certificate from the Yale University School of Management Executive Education Women’s Leadership Program. Jill is a graduate of Leadership Greater Concord class of 2023.
Chairman, Board of Directors
James P. Gerry
Mr. Gerry, a resident of Bedford, NH, has been a public professional for over 30 years. Currently, Mr. Gerry is the Director of the Municipal and Property Group at the NH Department of Revenue Administration where he oversees the finances, property tax assessments and collections, as well as sets the property tax rates for all municipalities in the State of New Hampshire. He began his career in 1986 as a municipal bond analyst for Shearson Lehman Brothers in New York City. Most of Mr. Gerry’s career has been spent in the financial guaranty industry. Here, he would underwrite insurance policies guarantying the principal and interest for municipal bonds in both the United States and internationally, From 1991 to 1997, he served as a Vice President and manager of the tax-backed group of MBIA, the leading municipal bond insurance company, located in Armonk, NY. In 1998, Mr. Gerry was a founding employee and the Managing Director of RAM Reinsurance company in Hamilton, Bermuda. At Ram Re, he headed the Public Finance group where he approved the firm’s guaranty of thousands of municipal bond issues. Mr. Gerry is currently a Board Member and Treasurer for Back In The Saddle Equine Therapy Center (BITS) in Hopkinton, NH. BITS provides equine therapy for adults and children with disabilities and military veterans suffering with PTSD. Mr. Gerry holds a BA from Syracuse University and a Master in Public Administration ( State and Local Government Financial Analysis and Management) from The Maxwell School at Syracuse University.
Treasurer
Lisa Ambrosio
Ms. Ambrosio, a resident of Salem, NH, brings over twenty years of experience in both municipal and private finance and administration to the Bank. Ms. Ambrosio began her municipal career in NH as the Finance Director for the Amherst School District and has worked not only in school districts but has also served as the Finance Director for both the Town of Amherst, NH and the Town of Newmarket, NH. Lisa was the School Business Administrator for the Wilton-Lyndeborough Cooperative School District for five years as well as the Newmarket School District for two plus years. Since 2019 Lisa has served as the School Business Administrator, CFO for Bedford, NH, one of the largest NH School Districts (based on student enrollment) maintaining its own positive Aaa bond rating. Ms. Ambrosio started her career at AT&T Bells Labs which was spun off into Lucent Technologies where she served for seven years in senior finance and operational management positions. She is a graduate of New Hampshire College with a degree in accounting and earned an MBA from the University of Lowell. She holds an advanced master’s degree (CAGS) in Educational Administration from Rivier University and a graduate certificate in School Business Administration from Southern NH University. She is a member of the NH Government Finance Officers Association (NHGFOA), NH School Administrators Association, Association of School Business Officials International, and the NH Association of School Business Officials.
Vice-Chairman
Paul Mansour
Mr. Mansour served as a Managing Director and Head of Municipal Credit Research for Conning Asset Management in Hartford, CT from 2006 through 2019. Mr. Mansour came to Conning to establish a municipal credit research process and team. Previously, Mr. Mansour was employed by MBIA Corporation as a Managing Director and business leader for revenue producing units where he prepared and approved municipal credit reports while also supervising credit analysts for 23 years. Mr. Mansour started his career at the New York State Power Authority serving four years as a revenue and power forecasting analyst. He is a graduate of Colgate University with a degree in economics and earned an MBA from Pace University. He is a member of the Municipal Analyst Group of New York and the Municipal Bond Club of New York.
Chairman
Mark Decoteau
Mr. Decoteau, a resident of Thornton, NH, brings over twenty years of experience in municipal finance and administration to the Bank. In 1995, Mr. Decoteau began his municipal career in NH as the Town Administrator for the Town of Farmington, NH. He was the Finance Director for the City of Rochester, NH, for three years and since December 2001 has served as the Town Manager for the Town of Waterville Valley, NH. In addition, Mr. Decoteau currently serves as a member of the Executive Committee and the Training Committee for the NH Government Finance Officers Association (NHGFOA). He is also a past president of the NHGFOA. Mr. Decoteau holds a Bachelor of Science in Engineering from the United States Military Academy, West Point, NY and a Masters in Public Administration from John Jay College, New York City.
Ex-Officio
Monica Mezzapelle
State Treasurer Monica Mezzapelle was elected by the New Hampshire Legislature on December 2, 2020 after serving as the Commissioner of the Treasury since March 27, 2020, following the resignation of State Treasurer William Dwyer. In addition to serving on numerous statutory Boards and Commissions, the State Treasurer is responsible for conducting a variety of financial and accounting functions, including the management and investment of between $200-$800 million in daily liquidity, state banking functions, debt management and compliance activities (issuance of notes and bonds), and the oversight of the abandoned property program.
Monica began her career in public accounting and joined the State of New Hampshire in 2000 working as a financial and compliance auditor for the Office of the Legislative Budget Assistant and spending the last seven years as an audit manager. Monica was appointed Deputy State Treasurer in May of 2014 overseeing the Treasury Operations and the Unclaimed Property Program. Monica is a Certified Public Accountant and holds the AICPA designation of Chartered Global Management Accountant. Monica is a member of the American Institute of Certified Public Accountants and the New Hampshire Government Finance Officers Association. Monica earned a Bachelor of Science in Finance and Accounting from the La Salle University.
Monica began her career in public accounting and joined the State of New Hampshire in 2000 working as a financial and compliance auditor for the Office of the Legislative Budget Assistant and spending the last seven years as an audit manager. Monica was appointed Deputy State Treasurer in May of 2014 overseeing the Treasury Operations and the Unclaimed Property Program. Monica is a Certified Public Accountant and holds the AICPA designation of Chartered Global Management Accountant. Monica is a member of the American Institute of Certified Public Accountants and the New Hampshire Government Finance Officers Association. Monica earned a Bachelor of Science in Finance and Accounting from the La Salle University.
Member
Adam Denoncour
Mr. Denoncour, a resident of Dunbarton, NH, is currently the Assistant Director of the Municipal and Property Division at the NH Department of Revenue Administration, where he has been employed for the last 6 years. In this role he oversees the finances, property tax assessments and collections, as well as the property tax rates for all municipalities in the State of New Hampshire. Mr. Denoncour is a graduate of Keene State College with a BA in Political Science, and a Master of Public Administration from the University of New Hampshire. He is also a member of NHGFOA, NHASBO, and is a lifelong resident of New Hampshire.
OUR TEAM
Meet The NHMBB Team
Helpful Answers
Frequently Asked Questions About Selling Bonds
