0001|                         HOUSE BILL 357
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0002|     42ND LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION,
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0003|     1996
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0004|                         INTRODUCED BY
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0005|                     LUCIANO "LUCKY" VARELA
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0006|     
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0007|                                
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0008|     
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0009|     
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0010|     
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0011|                             AN ACT
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0012|     RELATING TO CAPITAL EXPENDITURES; AUTHORIZING THE ISSUANCE OF
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0013|     SEVERANCE TAX BONDS FOR CAPITAL IMPROVEMENTS IN THE CITY OF
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0014|     SANTA FE LOCATED IN SANTA FE COUNTY; MAKING APPROPRIATIONS;
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0015|     DECLARING AN EMERGENCY.
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0016|     
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0017|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0018|       Section 1.  SEVERANCE TAX BONDS--AUTHORIZATIONS--
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0019|     APPROPRIATION OF PROCEEDS.--
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0020|            A.  The state board of finance may issue and sell
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0021|     severance tax bonds in compliance with the Severance Tax Bonding
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0022|     Act in an amount not to exceed the total of the amounts
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0023|     authorized for purposes specified in Sections 2 and 3 of this
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0024|     act.  The state board of finance shall schedule the issuance and
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0025|     sale of the bonds in the most expeditious and economical manner
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0001|     possible upon a finding by the board that the project has been
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0002|     developed sufficiently to justify the issuance and that the
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0003|     project can proceed to contract within a reasonable time.  The
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0004|     state board of finance shall further take the appropriate steps
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0005|     necessary to comply with the Internal Revenue Code of 1986, as
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0006|     amended.  Proceeds from the sale of the bonds are appropriated
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0007|     for the purposes specified in Sections 2 and 3 of this act.
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0008|            B.  The agencies named in Sections 2 and 3 of this
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0009|     act shall certify to the state board of finance when the money
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0010|     from the proceeds of the severance tax bonds authorized in this
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0011|     section is needed for the purposes specified in the applicable
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0012|     section of this act.
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0013|            C.  If the specified agency has not certified the
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0014|     need for the issuance of the bonds by the end of fiscal year
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0015|     1998, the authorization provided in this act shall be void.
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0016|            D.  Unless otherwise specified in this act, any
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0017|     unexpended or unencumbered balance remaining from the proceeds
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0018|     of severance tax bonds issued pursuant to Sections 2 and 3 of
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0019|     this act at the end of fiscal year 1999 shall revert to the
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0020|     severance tax bonding fund.
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0021|       Section 2. SEVERANCE TAX BONDS--DEPARTMENT OF FINANCE AND
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0022|     ADMINISTRATION--PURPOSES.--Pursuant to the provisions of Section
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0023|     1 of this act, upon certification by the local government
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0024|     division of the department of finance and administration that
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0025|     the need exists for the issuance of the bonds, the following
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0001|     amounts are appropriated to the local government division of the
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0002|     department of finance and administration for the following
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0003|     purposes:
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0004|            A.  three million one hundred fifty thousand dollars
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0005|     ($3,150,000) to design and construct improvements to Salvador
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0006|     Perez pool and park in the city of Santa Fe located in Santa Fe
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0007|     county;
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0008|            B.  two million sixty thousand dollars ($2,060,000)
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0009|     to plan and design trail corridors to connect various parks in
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0010|     the city of Santa Fe located in Santa Fe county;
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0011|            C.  seven hundred thousand dollars ($700,000) to
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0012|     acquire land for open-space parks in the city of Santa Fe
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0013|     located in Santa Fe county;
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0014|            D.  one million eight hundred sixty thousand dollars
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0015|     ($1,860,000) for land reclamation and to plan, design and
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0016|     construct an inner city park for the city of Santa Fe located in
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0017|     Santa Fe county;
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0018|            E.  two hundred fifty thousand dollars ($250,000) to
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0019|     plan and design improvements to Franklin Miles park in the city
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0020|     of Santa Fe located in Santa Fe county; and
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0021|            F.  five hundred thousand dollars ($500,000) to
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0022|     construct improvements to the Santa Fe river channel in the city
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0023|     of Santa Fe located in Santa Fe county.
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0024|       Section 3.  SEVERANCE TAX BONDS--OFFICE OF CULTURAL 
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0025|     AFFAIRS--PURPOSE.--Pursuant to the provisions of Section 1 of
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0001|     this act, upon certification by the office of cultural affairs 
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0002|     that the need exists for the issuance of the bonds, seventy-five
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0003|     thousand dollars ($75,000) is appropriated to the office of
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0004|     cultural affairs for the purpose of planning and designing a
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0005|     cultural museum in the city of Santa Fe located in Santa Fe
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0006|     county.
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0007|       Section 4.  EMERGENCY.--It is necessary for the public
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0008|     peace, health and safety that this act take effect immediately.
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0009|                              
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0010|     
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