SENATE BILL 379

46th legislature - STATE OF NEW MEXICO - second session, 2004

INTRODUCED BY

Clinton D. Harden

AN ACT

RELATING TO THE STATE GAME COMMISSION; RENEWING THE BONDING AUTHORITY OF THE STATE GAME COMMISSION AND ALLOWING THE STATE GAME COMMISSION TO USE PROCEEDS FROM REAL PROPERTY IN THE RETIREMENT OF BONDS.

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

     Section 1. Section 17-1-16 NMSA 1978 (being Laws 1964 (1st S.S.), Chapter 18, Section 1) is amended to read:

     "17-1-16. SHORT TITLE.--[This act] Sections 17-1-16 through 17-1-25 NMSA 1978 may be cited as the "Game and Fish Bond Act"."

     Section 2. Section 17-1-18 NMSA 1978 (being Laws 1964 (1st S.S.), Chapter 18, Section 3, as amended) is amended to read:

     "17-1-18. BONDING AUTHORITY.--Whenever the state game commission, by vote of a majority of its full membership entered in its minutes, determines by resolution that it is necessary to raise funds to provide for fish hatcheries and rearing facilities, game and fish habitat acquisition, development and improvement projects or other similar capital outlay projects, the commission may issue and sell bonds of the state [of New Mexico] as provided in the Game and Fish Bond Act, provided that the total outstanding amount of [such] bonds issued under the authority of [this] the Game and Fish Bond Act shall not exceed [two million dollars ($2,000,000)] five million dollars ($5,000,000). The purposes stated by the commission and the amount of each bond issue shall be approved by the state board of finance before issuance of the bonds. The commission shall report annually to the legislature any bonds issued pursuant to [this] the Game and Fish Bond Act and the purpose for which issued."

     Section 3. Section 17-1-22 NMSA 1978 (being Laws 1964 (1st S.S.), Chapter 18, Section 7, as amended) is amended to read:

     "17-1-22. SECURITY--RETIREMENT OF BONDS.--

          A. There is created in the state treasury the "game and fish bond retirement fund". The state game commission shall place into the game and fish bond retirement fund the sum of one dollar ($1.00) from each license enumerated in this subsection that is sold after April 1, 1976:

                (1) resident, fishing;

                (2) resident, small game;

                (3) resident, deer;

                (4) resident, general hunting;

                (5) resident, general hunting and fishing;

                (6) resident, trapper;

                (7) nonresident, fishing;

                (8) nonresident, small game;

                (9) temporary fishing, five days; and

                (10) nonresident, deer.

Such payments to the game and fish bond retirement fund shall be effective for all bonds issued under the Game and Fish Bond Act up to the maximum limitation on the amount of bonds provided in that act.

          B. Money in the game and fish bond retirement fund is first pledged for the payment of principal and interest on all state game commission bonds which have been issued and are outstanding [at the time of the effective date of this 1983 amendment] prior to June 17, 1983. Money in the game and fish bond retirement fund is further pledged for the payment of principal and interest on all state game commission bonds issued after [the effective date of this 1983 amendment] June 17, 1983. The issuance and sale of bonds under the Game and Fish Bond Act constitutes an irrevocable contract between the state game commission and the owner of any bond, and so long as any bond remains outstanding the fees pledged for payment shall not be reduced.

          C. Bonds issued under the Game and Fish Bond Act are payable solely from the game and fish bond retirement fund, and they are not general obligations of the state.

          D. The state game commission shall continue to place in the game and fish bond retirement fund the sum of one dollar ($1.00) from each of the licenses enumerated in Subsection A of this section, even after the fund is sufficient to pay the principal and interest of the outstanding bonds and after all bonds issued have been retired.

          E. Income derived from real property owned by the state game commission in accordance with its statutory authority to acquire real property may be placed into the game and fish bond retirement fund in amounts and at times at the discretion of the state game commission."

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