0001| HOUSE BILL 303 | 0002| 42ND LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION, | 0003| 1996 | 0004| INTRODUCED BY | 0005| WESLEY GRAU | 0006| | 0007| | 0008| | 0009| | 0010| | 0011| AN ACT | 0012| RELATING TO CAPITAL EXPENDITURES; AUTHORIZING THE ISSUANCE OF | 0013| SEVERANCE TAX BONDS FOR HOUSE OF REPRESENTATIVES DISTRICT 67 | 0014| CAPITAL PROJECTS; MAKING APPROPRIATIONS; DECLARING AN EMERGENCY. | 0015| | 0016| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: | 0017| Section 1. SEVERANCE TAX BONDS--AUTHORIZATIONS-- | 0018| APPROPRIATION OF PROCEEDS.-- | 0019| A. The state board of finance may issue and sell | 0020| severance tax bonds in compliance with the Severance Tax Bonding | 0021| Act in an amount not to exceed the total of the amounts | 0022| authorized for purposes specified in Sections 2 through 6 of | 0023| this act. The state board of finance shall schedule the | 0024| issuance and sale of the bonds in the most expeditious and | 0025| economical manner possible upon a finding by the board that the | 0001| project has been developed sufficiently to justify the issuance | 0002| and that the project can proceed to contract within a reasonable | 0003| time. The state board of finance shall further take the | 0004| appropriate steps necessary to comply with the Internal Revenue | 0005| Code of 1986, as amended. Proceeds from the sale of the bonds | 0006| are appropriated for the purposes specified in Sections 2 | 0007| through 6 of this act. | 0008| B. The agencies named in Sections 2 through 6 of | 0009| this act shall certify to the state board of finance when the | 0010| money from the proceeds of the severance tax bonds authorized in | 0011| this section is needed for the purposes specified in the | 0012| applicable section of this act. | 0013| C. If the specified agency has not certified the | 0014| need for the issuance of the bonds by the end of fiscal year | 0015| 1998, the authorization provided in this act shall be void. | 0016| D. Unless otherwise specified in this act, any | 0017| unexpended or unencumbered balance remaining from the proceeds | 0018| of severance tax bonds issued pursuant to Sections 2 through 6 | 0019| of this act at the end of fiscal year 1999 shall revert to the | 0020| severance tax bonding fund. | 0021| Section 2. SEVERANCE TAX BONDS--STATE DEPARTMENT OF PUBLIC | 0022| EDUCATION--PURPOSES.--Pursuant to the provisions of Section 1 of | 0023| this act, upon certification by the state department of public | 0024| education that the need exists for the issuance of the bonds, | 0025| the following amounts are appropriated to the state department | 0001| of public education for the following purposes: | 0002| A. four hundred twenty thousand dollars ($420,000) | 0003| to design, construct, equip and furnish classrooms for the Grady | 0004| public schools in Curry county; | 0005| B. two hundred fifty thousand dollars ($250,000) to | 0006| construct and equip school facilities for the Floyd public | 0007| schools in Roosevelt county; | 0008| C. twenty-five thousand dollars ($25,000) to equip | 0009| and make improvements to the elementary school grounds in Grady | 0010| in Curry county; and | 0011| D. three hundred fifty-five thousand dollars | 0012| ($355,000) to reconstruct, repair, equip or make improvements to | 0013| the Fort Sumner school in De Baca county. | 0014| Section 3. SEVERANCE TAX BONDS--DEPARTMENT OF FINANCE AND | 0015| ADMINISTRATION--PURPOSES.--Pursuant to the provisions of Section | 0016| 1 of this act, upon certification by the local government | 0017| division of the department of finance and administration that | 0018| the need exists for the issuance of the bonds, the following | 0019| amounts are appropriated to the local government division of the | 0020| department of finance and administration for the following | 0021| purposes: | 0022| A. one hundred fifty thousand dollars ($150,000) to | 0023| make improvements to recreational facilities and equipment at | 0024| the Clayton air park in Union county; | 0025| B. nine hundred thousand dollars ($900,000) to | 0001| design, construct, equip and furnish a multipurpose center in | 0002| Clayton in Union county; | 0003| C. five thousand dollars ($5,000) to equip the youth | 0004| recreation center in Tucumcari in Quay county; | 0005| D. twenty-one thousand two hundred fifty dollars | 0006| ($21,250) to purchase an emergency vehicle for the Rosebud | 0007| rescue facility in Harding county; and | 0008| E. one hundred thousand dollars ($100,000) to | 0009| construct, equip and furnish a fire station in Grady in Curry | 0010| county. | 0011| Section 4. SEVERANCE TAX BONDS--BOARD OF REGENTS OF NEW | 0012| MEXICO STATE UNIVERSITY--PURPOSE.--Pursuant to the provisions of | 0013| Section 1 of this act, upon certification by the board of | 0014| regents of New Mexico state university that the need exists for | 0015| the issuance of the bonds, one hundred six thousand two hundred | 0016| fifty dollars ($106,250) is appropriated to the board of regents | 0017| of New Mexico state university for the purpose of repairing, | 0018| renovating and equipping the Clayton livestock research center | 0019| in Union county. | 0020| Section 5. SEVERANCE TAX BONDS--STATE AGENCY ON AGING--PURPOSE.--Pursuant to the provisions of Section 1 of this act, | 0021| upon certification by the state agency on aging that the need | 0022| exists for the issuance of the bonds, one hundred fifty-six | 0023| thousand eighty-five dollars ($156,085) is appropriated to the | 0024| state agency on aging for the purpose of designing, | 0025| constructing, equipping or furnishing the Des Moines senior | 0001| citizen center and purchasing a new vehicle for the center in | 0002| Union county. | 0003| Section 6. SEVERANCE TAX BONDS--DEPARTMENT OF | 0004| ENVIRONMENT--PURPOSE.--Pursuant to the provisions of Section 1 | 0005| of this act, upon certification by the department of environment | 0006| that the need exists for the issuance of the bonds, three | 0007| hundred thousand dollars ($300,000) is appropriated to the | 0008| department of environment for the purpose of closing a landfill | 0009| in Logan located in Quay county. | 0010| Section 7. EMERGENCY.--It is necessary for the public | 0011| peace, health and safety that this act take effect immediately. | 0012|  |