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 <u> 7 </u> For <u> 0 </u> 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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