0001| HOUSE BILL 658 | 0002| 42ND LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION, | 0003| 1996 | 0004| INTRODUCED BY | 0005| JAMES ROGER MADALENA | 0006| | 0007| | 0008| | 0009| | 0010| | 0011| AN ACT | 0012| RELATING TO CAPITAL EXPENDITURES; AUTHORIZING THE ISSUANCE OF | 0013| SEVERANCE TAX BONDS FOR VARIOUS CAPITAL PROJECTS; MAKING | 0014| 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 4 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 4 of this act. | 0008| B. The agencies named in Sections 2 through 4 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 4 | 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--DEPARTMENT OF FINANCE AND | 0022| ADMINISTRATION--PURPOSES.--Pursuant to the provisions of Section | 0023| 1 of this act, upon certification by the local government | 0024| division of the department of finance and administration that | 0025| the need exists for the issuance of the bonds, the following | 0001| amounts are appropriated to the local government division of the | 0002| department of finance and administration for the following | 0003| purposes: | 0004| A. one million two hundred fifty thousand dollars | 0005| ($1,250,000) for the purpose of acquiring property for the Tres | 0006| Pistolas recreational area located in Bernalillo county; and | 0007| B. two hundred fifty thousand dollars ($250,000) to | 0008| replace the heating and air conditioning system at the Indian | 0009| pueblo cultural center located in Bernalillo county. | 0010| Section 3. SEVERANCE TAX BONDS--DEPARTMENT OF | 0011| ENVIRONMENT--PURPOSES.--Pursuant to the provisions of Section 1 | 0012| of this act, upon certification by the department of environment | 0013| that the need exists for the issuance of the bonds, the | 0014| following amounts are appropriated to the department of | 0015| environment for the following purposes: | 0016| A. nine hundred thousand dollars ($900,000) to plan, | 0017| design and construct improvements to the San Luis domestic water | 0018| system located in Sandoval county; and | 0019| B. two hundred eighty-five thousand dollars | 0020| ($285,000) for construction of the final phase of the San Ysidro | 0021| main water system located in Sandoval county. | 0022| Section 3. SEVERANCE TAX BONDS--NEW MEXICO OFFICE OF | 0023| INDIAN AFFAIRS--PURPOSE.--Pursuant to the provisions of Section | 0024| 1 of this act, upon certification by the New Mexico office of | 0025| Indian affairs that the need exists for the issuance of the | 0001| bonds, two hundred thousand dollars ($200,000) is appropriated | 0002| to the New Mexico office of Indian affairs for the purpose of | 0003| planning, designing and installing water, sewer, power and | 0004| telephone services for the Walatowa educational heritage center | 0005| located in Sandoval county. | 0006| Section 4. SEVERANCE TAX BONDS--ENERGY, MINERAL AND | 0007| NATURAL RESOURCES DEPARTMENT--PURPOSE.--Pursuant to the | 0008| provisions of Section 1 of this act, upon certification by the | 0009| energy, minerals and natural resources department that the need | 0010| exists for the issuance of the bonds, one hundred fifty thousand | 0011| dollars ($150,000) is appropriated to the energy, minerals and | 0012| natural resources department for the purpose of planning, | 0013| designing and installing water, sewer, power and telephone | 0014| services to accommodate a recreational vehicle park and picnic | 0015| areas for the Holy Ghost fishing lakes located in Sandoval | 0016| county. | 0017| Section 5. EMERGENCY.--It is necessary for the public | 0018| peace, health and safety that this act take effect immediately. | 0019|  |