0001| SENATE BILL 111
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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| JOHN PINTO
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0006|
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0007|
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0008|
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0009| FOR THE INDIAN AFFAIRS COMMITTEE
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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 VARIOUS PROJECTS IN SENATE DISTRICT 3 IN
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0014| SAN JUAN COUNTY; MAKING AN APPROPRIATION; DECLARING AN
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0015| 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--PURPOSE FOR WHICH ISSUED--APPROPRIATION OF PROCEEDS.--
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0019| A. The state board of finance may issue and sell
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0020| severance tax bonds in compliance with the Severance Tax Bonding
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0021| Act in an amount not exceeding one million eighty-one thousand
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0022| dollars ($1,081,000) when the New Mexico office of Indian
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0023| affairs certifies the need for the issuance of the bonds. The
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0024| state board of finance shall schedule the issuance and sale of
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0025| the bonds in the most expeditious and economical manner possible
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0001| upon a finding by the board that the project has been developed
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0002| sufficiently to justify the issuance and that the project can
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0003| proceed to contract within a reasonable time. The state board
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0004| of finance shall further take the appropriate steps necessary to
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0005| comply with the Internal Revenue Code of 1986, as amended. The
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0006| proceeds from the sale of the bonds are appropriated to the New
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0007| Mexico office of Indian affairs in the following amounts for the
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0008| following purposes:
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0009| (1) three hundred fifty thousand dollars
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0010| ($350,000) to make necessary improvements to residences of
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0011| indigent New Mexicans in the Naschitti chapter area in San Juan
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0012| county;
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0013| (2) three hundred fifty thousand dollars
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0014| ($350,000) to plan, design or construct a preschool classroom
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0015| facility in the Naschitti chapter area in San Juan county;
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0016| (3) three hundred fifty thousand dollars
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0017| ($350,000) to plan, design or construct a senior citizen center
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0018| in the Newcomb chapter area in San Juan county; and
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0019| (4) thirty-one thousand dollars ($31,000) for
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0020| electrical wiring in residences of indigent New Mexicans in the
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0021| Sheepsprings chapter area in San Juan county.
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0022| B. If the New Mexico office of Indian affairs has
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0023| not certified the need for the issuance of the bonds by the end
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0024| of fiscal year 1998, the authorization provided in this section
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0025| shall be void. Any unexpended or unencumbered balance remaining
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0001| from the proceeds of severance tax bonds issued pursuant to
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0002| Subsection A of this section at the end of fiscal year 1999
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0003| shall revert to the severance tax bonding fund.
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0004| Section 2. EMERGENCY.--It is necessary for the public
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0005| peace, health and safety that this act take effect immediately.
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0006|
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0007|
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0008| FORTY-SECOND LEGISLATURE
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0009| SECOND SESSION, 1996
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0010|
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0011|
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0012| JANUARY 23, 1996
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0013|
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0014| Mr. President:
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0015|
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0016| Your COMMITTEES' COMMITTEE, to whom has been referred
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0017|
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0018| SENATE BILL 111
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0019|
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0020| has had it under consideration and finds same to be GERMANE, PURSUANT
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0021| TO CONSTITUTIONAL PROVISIONS, and thence referred to the INDIAN AND
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0022| CULTURAL AFFAIRS COMMITTEE.
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0023|
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0024| Respectfully submitted,
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0025|
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0001|
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0002|
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0003|
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0004| __________________________________
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0005| SENATOR MANNY M. ARAGON, Chairman
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0006|
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0007|
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0008|
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0009| Adopted_______________________ Not Adopted_______________________
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0010| (Chief Clerk) (Chief Clerk)
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0011|
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0012|
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0013| Date ________________________
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0014|
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0015|
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0016|
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0017| S0111CC1
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0018|
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0019| FORTY-SECOND LEGISLATURE
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0020| SECOND SESSION, 1996
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0021|
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0022|
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0023| January 25, 1996
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0024|
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0025| Mr. President:
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0001|
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0002| Your INDIAN & CULTURAL AFFAIRS COMMITTEE, to whom has
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0003| been referred
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0004|
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0005| SENATE BILL 111
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0006|
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0007| has had it under consideration and reports same with recommendation that
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0008| it DO PASS, and thence referred to the FINANCE COMMITTEE.
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0009|
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0010| Respectfully submitted,
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0011|
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0012|
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0013|
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0014| __________________________________
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0015| John Pinto, Chairman
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0016|
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0017|
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0018|
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0019| Adopted_______________________ Not Adopted_______________________
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0020| (Chief Clerk) (Chief Clerk)
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0021|
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0022|
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0023| Date ________________________
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0024|
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0025|
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0001| The roll call vote was 7 For 0 Against
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0002| Yes: 7
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0003| No: 0
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0004| Excused: Rutherford
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0005| Absent: none
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0006|
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0007|
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0008| S0111IC1
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0009|
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0010|
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