0001| SENATE BILL 18
|
0002| 42ND LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION,
|
0003| 1996
|
0004| INTRODUCED BY
|
0005| LEONARD LEE RAWSON
|
0006|
|
0007|
|
0008|
|
0009|
|
0010|
|
0011| AN ACT
|
0012| RELATING TO CAPITAL EXPENDITURES; AUTHORIZING THE ISSUANCE OF
|
0013| SEVERANCE TAX BONDS TO PAVE A SECTION OF EDDY DRIVE NEAR THE
|
0014| MUSEUM SUPPORT CENTER IN ALAMOGORDO LOCATED IN OTERO COUNTY;
|
0015| MAKING AN APPROPRIATION; DECLARING AN 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.--The state board of finance may issue
|
0019| and sell severance tax bonds in compliance with the Severance
|
0020| Tax Bonding Act in an amount not exceeding fifty-five thousand
|
0021| dollars ($55,000) when the state highway and transportation
|
0022| department certifies the need for the issuance of the bonds.
|
0023| The state board of finance shall schedule the issuance and sale
|
0024| of the bonds in the most expeditious and economical manner
|
0025| possible upon a finding by the board that the project has been
|
0001| developed sufficiently to justify the issuance and that the
|
0002| project can proceed to contract within a reasonable time. The
|
0003| state board of finance shall further take the appropriate steps
|
0004| necessary to comply with the Internal Revenue Code of 1986, as
|
0005| amended. The proceeds from the sale of the bonds are
|
0006| appropriated to the state highway and transportation department
|
0007| for the purpose of paving a section of Eddy drive near the
|
0008| museum support center in Alamogordo located in Otero county.
|
0009| Any unexpended or unencumbered balance remaining six months
|
0010| after completion of the project shall revert to the severance
|
0011| tax bonding fund. If the state highway and transportation
|
0012| department has not certified the need for the issuance of the
|
0013| bonds by the end of fiscal year 1999, the authorization provided
|
0014| in this section shall be void.
|
0015| Section 2. EMERGENCY.--It is necessary for the public
|
0016| peace, health and safety that this act take effect immediately.
|
0017| - 2 -
|
0018|
|
0019| FORTY-SECOND LEGISLATURE
|
0020| SECOND SESSION, 1996
|
0021|
|
0022|
|
0023| JANUARY 18, 1996
|
0024|
|
0025| Mr. President:
|
0001|
|
0002| Your COMMITTEES' COMMITTEE, to whom has been referred
|
0003|
|
0004| SENATE BILL 18
|
0005|
|
0006| has had it under consideration and finds same to be GERMANE, PURSUANT
|
0007| TO CONSTITUTIONAL PROVISIONS, and thence referred to the SENATE
|
0008| CORPORATION AND TRANSPORTATION COMMITTEE.
|
0009|
|
0010| Respectfully submitted,
|
0011|
|
0012|
|
0013|
|
0014|
|
0015| __________________________________
|
0016| SENATOR MANNY M. ARAGON, Chairman
|
0017|
|
0018|
|
0019|
|
0020| Adopted_______________________ Not Adopted_______________________
|
0021| (Chief Clerk) (Chief Clerk)
|
0022|
|
0023|
|
0024| Date ________________________
|
0025|
|
0001|
|
0002|
|
0003| The roll call vote was For Against
|
0004| Yes:
|
0005| No:
|
0006| Excused:
|
0007| Absent:
|
0008|
|
0009|
|
0010| S00018CC1
|
0011|
|
0012| FORTY-SECOND LEGISLATURE
|
0013| SECOND SESSION, 1996
|
0014|
|
0015|
|
0016| February 2, 1996
|
0017|
|
0018| Mr. President:
|
0019|
|
0020| Your CORPORATIONS & TRANSPORTATION COMMITTEE, to whom
|
0021| has been referred
|
0022|
|
0023| SENATE BILL 18
|
0024|
|
0025| has had it under consideration and reports same with recommendation that
|
0001| it DO PASS, and thence referred to the FINANCE COMMITTEE.
|
0002|
|
0003| Respectfully submitted,
|
0004|
|
0005|
|
0006|
|
0007| __________________________________
|
0008| Roman M. Maes, III, Chairman
|
0009|
|
0010|
|
0011|
|
0012| Adopted_______________________ Not Adopted_______________________
|
0013| (Chief Clerk) (Chief Clerk)
|
0014|
|
0015|
|
0016| Date ________________________
|
0017|
|
0018|
|
0019| The roll call vote was 5 For 0 Against
|
0020| Yes: 5
|
0021| No: 0
|
0022| Excused: Fidel, McKibben, Reagan, Robinson
|
0023| Absent: None
|
0024|
|
0025|
|
0001| S0018CT1
|
0002|
|
0003|
|