SENATE BILL 398

45th legislature - STATE OF NEW MEXICO - first session, 2001

INTRODUCED BY

John Arthur Smith







AN ACT

MAKING AN APPROPRIATION TO PAY THE BONDED INDEBTEDNESS OF THE ANIMAS SCHOOL DISTRICT IN HIDALGO COUNTY; DECLARING AN EMERGENCY.



BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

Section 1. APPROPRIATION.--One million two hundred thousand dollars ($1,200,000) is appropriated from the general fund to the state department of public education for expenditure in fiscal years 2001 and 2002 to pay the bonded indebtedness of the Animas school district in Hidalgo county. Any unexpended or unencumbered balance remaining at the end of fiscal year 2002 shall revert to the general fund.

Section 2. EMERGENCY.--It is necessary for the public peace, health and safety that this act take effect immediately.