RELATING TO THE STATE FISC; TRANSFERRING FUNDS; AUTHORIZING
EMERGENCY EXPENDITURES; AUTHORIZING THE ISSUANCE OF SEVERANCE
TAX BONDS; MAKING APPROPRIATIONS; DECLARING AN EMERGENCY.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
Section 1. WATER AND WASTEWATER PROJECTS--TRANSFERRING
MONEY FROM THE WATER AND WASTEWATER PROJECT GRANT FUND TO THE
GENERAL FUND--AUTHORIZING EXPENDITURES FOR EMERGENCY
A. Twelve million dollars ($12,000,000) is
transferred from the water and wastewater project grant fund
to the general fund.
B. The New Mexico finance authority is authorized
to expend three million dollars ($3,000,000) of the
appropriation to the water and wastewater project grant fund
that was provided in Laws 2002, Chapter 110, Section 48 for
emergency public projects as provided in Subsection E of
Section 6-21-6.3 NMSA 1978.
Section 2. WATER PROJECTS--APPROPRIATION.--Ten million
dollars ($10,000,000) is appropriated from the general fund
to the water project fund for expenditure in fiscal year 2004
and subsequent fiscal years to carry out the provisions of
the Water Project Finance Act. Any unexpended or
unencumbered balance remaining at the end of a fiscal year