0001| AN ACT | 0002| RELATING TO SCHOOL DISTRICTS; PROVIDING SCHOOL DISTRICTS WITH THE | 0003| AUTHORITY TO ISSUE GENERAL OBLIGATION BONDS TO PURCHASE COMPUTER | 0004| EQUIPMENT; INCLUDING THE PURCHASE OF COMPUTER EQUIPMENT WITHIN | 0005| THE DEFINITION OF PUBLIC SCHOOL CAPITAL IMPROVEMENTS; AMENDING THE | 0006| PUBLIC SCHOOL CODE. | 0007| | 0008| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: Section 1. Section 22-18-1 NMSA 1978 (being Laws 1967, Chapter 16, Section 228) is | 0009| amended to read: | 0010| "22-18-1. GENERAL OBLIGATION BONDS--AUTHORITY TO ISSUE.--Subject to | 0011| the provisions of Article 9, Section 11 of the constitution of New Mexico and Sections 6-15-1 | 0012| and 6-15-2 NMSA 1978, a school district may issue general obligation bonds for the purpose of | 0013| erecting, remodeling, making additions to and furnishing school buildings, purchasing or | 0014| improving school grounds, purchasing computer software and hardware for student use in public | 0015| schools or any combination of these purposes. The bonds shall be fully negotiable and constitute | 0016| negotiable instruments within the meaning and for all purposes of the Uniform Commercial | 0017| Code." | 0018| Section 2. Section 22-25-2 NMSA 1978 (being Laws 1975 (S.S.), Chapter 5, Section 2, | 0019| as amended) is amended to read: | 0020| "22-25-2. DEFINITIONS.--As used in the Public School Capital Improvements Act: | 0021| A. "program unit" means the product of the program element multiplied by the | 0022| applicable cost differential factor, as defined in Section 22-8-2 NMSA 1978; and | 0023| B. "capital improvements" means expenditures, exclusive of any debt service | 0024| expenses, for: | 0025| (1) erecting, remodeling, making additions to, providing equipment for or | 0001| furnishing public school buildings; | 0002| (2) purchasing or improving public school grounds; | 0003| (3) maintenance of public school buildings or public school grounds, | 0004| exclusive of salary expenses of school district employees; | 0005| (4) purchasing activity vehicles for transporting students to | 0006| extracurricular school activities; and | 0007| (5) purchasing computer software and hardware for student use in | 0008| public school classrooms." | 0009| |