1963 - Lane Memorial Library
1963 - Lane Memorial Library
1963 - Lane Memorial Library
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40 HAMPTON TOWN REPORT<br />
2. We believe that the resulting change of ownership<br />
which would occur in a comparatively short<br />
time would not be in the best interests of our community<br />
as it stands today.<br />
3. We believe that leaseholds issued by the Town<br />
have not adversely affected the growth and development<br />
of Hampton Beach as the quality, of construction<br />
has constantly improved.<br />
4. Financing for qualified borrowers has been<br />
available in adequate amounts fori construction and<br />
improvements on said leaseholds.<br />
5. Your committee feels that it would be highly<br />
improbable that the Town would ever be in a position<br />
to set values on individual leaseholds that would<br />
be fair and equitable to all parties involved.<br />
6. Your committee further believes that the<br />
Town should not be put in the position of forcing the<br />
present lessees (many of whom have held town<br />
leases for periods up to 50 years) to purchase this<br />
property against their wishes, as it would present<br />
a great financial problem.<br />
7. It would appear that the Town of Hampton<br />
does not have the power to transfer the proceeds<br />
from sale of Town land to an irrevocable trust fund<br />
for the benefit of the Town. The powers of a town<br />
as set forth in Chapter 31 of R.S.A. contain authority<br />
for towns to "take and hold in trust, gifts, legacies<br />
and devises made to them." No authority is<br />
therefore granted to towns to transfer their own<br />
property in trust. The power of a municipal corporation<br />
is derived solely from the laws of the<br />
State and must be confined by its charter or the<br />
laws which created it. It would thus appear a spe-
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