INVESTMENT POLICY STATEMENT

For Funds Held in Accordance with General Bond Resolutions

NEW HAMPSHIRE MUNICIPAL BOND BANK

Funds of the Bank held in accordance with the terms of its General Bond Resolution adopted December 1, 1978, as amended, its General Bond Resolution adopted July 19, 1979, as amended, and its General Bond Resolution adopted July 14, 2005, as amended, shall be invested by the trustee in accordance with the provisions of each respective General Bond Resolution, as instructed by the Executive Director or Assistant Director.

(See separate Investment Policy Statement for Unrestricted Operating Funds for investment of funds not held in accordance with the terms of the General Bond Resolutions).

Approved 12/03/2013