0001| HOUSE BILL 496 | 0002| 42ND LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION, | 0003| 1996 | 0004| INTRODUCED BY | 0005| PATSY G. TRUJILLO | 0006| | 0007| | 0008| | 0009| | 0010| | 0011| AN ACT | 0012| RELATING TO CAPITAL EXPENDITURES; AUTHORIZING THE ISSUANCE OF | 0013| SEVERANCE TAX BONDS TO MAKE IMPROVEMENTS TO VARIOUS ROADS IN | 0014| SANTA FE COUNTY; MAKING AN APPROPRIATION; DECLARING AN | 0015| EMERGENCY. | 0016| | 0017| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: | 0018| Section 1. SEVERANCE TAX BONDS--PURPOSE FOR WHICH ISSUED--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 exceeding three million four hundred | 0022| seventy-five thousand dollars ($3,475,000) when the state | 0023| highway and transportation department certifies the need for the | 0024| issuance of the bonds. The state board of finance shall | 0025| schedule the issuance and sale of the bonds in the most | 0001| expeditious and economical manner possible upon a finding by the | 0002| board that the project has been developed sufficiently to | 0003| justify the issuance and that the project can proceed to | 0004| contract within a reasonable time. The state board of finance | 0005| shall further take the appropriate steps necessary to comply | 0006| with the Internal Revenue Code of 1986, as amended. The | 0007| proceeds from the sale of the bonds are appropriated to the | 0008| state highway and transportation department in the following | 0009| amounts for the following purposes: | 0010| (1) three hundred fifty thousand dollars | 0011| ($350,000) to re-pave avenida Vista Grande from United States | 0012| 285 to the railroad tracks in Santa Fe county; | 0013| (2) three hundred thousand dollars ($300,000) | 0014| to make paving improvements to county road 54 from Rancho de las | 0015| Golondrinas to county road 56 in Santa Fe county; | 0016| (3) three hundred thousand dollars ($300,000) | 0017| to make paving improvements to county road 8 from state road 41 | 0018| down two miles in Santa Fe county; | 0019| (4) two hundred thousand dollars ($200,000) to | 0020| continue paving improvements to county road 72 in Santa Fe | 0021| county; | 0022| (5) four hundred twenty thousand dollars | 0023| ($420,000) to re-pave Agua Fria road from Airport road to the | 0024| city limits of Santa Fe in Santa Fe county; | 0025| (6) one hundred fifty thousand dollars | 0001| ($150,000) to continue paving improvements to county road 62 in | 0002| Santa Fe county; | 0003| (7) one hundred fifty thousand dollars | 0004| ($150,000) to pave county road 6 in Santa Fe county; | 0005| (8) eight hundred thousand dollars ($800,000) | 0006| to plan, design and construct a bridge over county road 91A in | 0007| Santa Fe county; | 0008| (9) two hundred ninety thousand dollars | 0009| ($290,000) to pave the east and west end of county road 42 in | 0010| Santa Fe county; | 0011| (10) seventy thousand dollars ($70,000) to pave | 0012| county road 9 in Santa Fe county; | 0013| (11) seventy thousand dollars ($70,000) to | 0014| continue paving county road 67A through Canada de los Alamos in | 0015| Santa Fe county; | 0016| (12) one hundred fifty thousand dollars | 0017| ($150,000) to make paving improvements to county road 85 in | 0018| Santa Fe county; | 0019| (13) one hundred fifty thousand dollars | 0020| ($150,000) to make paving improvements to county road 60 in | 0021| Santa Fe county; and | 0022| (14) seventy-five thousand dollars ($75,000) to | 0023| make paving improvements to county road 86 in Santa Fe county. | 0024| B. If the state highway and transportation | 0025| department has not certified the need for the issuance of the | 0001| bonds by the end of fiscal year 1998, the authorization provided | 0002| in this section shall be void. Any unexpended or unencumbered | 0003| balance remaining from the proceeds of severance tax bonds | 0004| issued pursuant to Subsection A of this section at the end of | 0005| fiscal year 1999 shall revert to the severance tax bonding fund. | 0006| Section 2. EMERGENCY.--It is necessary for the public | 0007| peace, health and safety that this act take effect immediately. | 0008|  | 0009| |