0001|                        SENATE BILL 113
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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|     
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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 THE PLANNING, DESIGNING AND CONSTRUCTION
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0014|     OF AN ELECTRIC POWER LINE EXTENSION AT THE BURNHAM CHAPTER IN
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0015|     SAN JUAN COUNTY; MAKING AN APPROPRIATION; DECLARING AN
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0016|     EMERGENCY.
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0017|     
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0018|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0019|       Section 1.  SEVERANCE TAX BONDS--PURPOSE FOR WHICH ISSUED--APPROPRIATION OF PROCEEDS.--The state board of finance may issue
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0020|     and sell severance tax bonds in compliance with the Severance
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0021|     Tax Bonding Act in an amount not exceeding one million dollars
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0022|     ($1,000,000) when the New Mexico office of Indian affairs
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0023|     certifies the need for the issuance of the bonds.  The state
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0024|     board of finance shall schedule the issuance and sale of the
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0025|     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 for the purpose of planning,
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0008|     designing and constructing an electric power line extension at
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0009|     the Burnham chapter located in McKinley county.  Any unexpended
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0010|     or unencumbered balance remaining at the end of fiscal year 1999
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0011|     shall revert to the severance tax bonding fund.  If the New
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0012|     Mexico office of Indian affairs has not certified the need for
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0013|     the issuance of the bonds by the end of fiscal year 1998, the
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0014|     authorization provided in this section shall be void.
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0015|       Section 2.  EMERGENCY.--It is necessary for the public
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0016|     peace, health and safety that this act take effect immediately.
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0017|                              
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0018|             
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0019|   
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0020|                    FORTY-SECOND LEGISLATURE
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0021|                      SECOND SESSION, 1996
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0022|   
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0023|   
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0024|                                              JANUARY 22, 1996
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0025|   
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0001|   Mr. President:
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0002|   
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0003|     Your COMMITTEES' COMMITTEE, to whom has been referred
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0004|   
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0005|                           SENATE BILL 113
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0006|   
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0007|   has had it under consideration and finds same to be GERMANE, PURSUANT
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0008|   TO CONSTITUTIONAL PROVISIONS, and thence referred to the INDIAN AND
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0009|   CULTURAL AFFAIRS COMMITTEE.
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0010|   
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0011|                              Respectfully submitted,
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0012|   
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0013|   
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0014|   
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0015|   
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0016|                              __________________________________
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0017|                              SENATOR MANNY M. ARAGON, Chairman 
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0018|   
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0019|   
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0020|   
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0021|   Adopted_______________________ Not Adopted_______________________
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0022|             (Chief Clerk)                        (Chief Clerk)
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0023|   
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0024|   
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0025|                     Date ________________________
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0001|   
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0002|   
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0003|   
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0004|     S0113CC1
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0005|   
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0006|                      FORTY-SECOND LEGISLATURE             SB 113/a
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0007|                        SECOND SESSION, 1996
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0008|   
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0009|   
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0010|                                                   January 25, 1996
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0011|   
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0012|   Mr. President:
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0013|   
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0014|     Your INDIAN & CULTURAL AFFAIRS COMMITTEE, to whom has
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0015|   been referred
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0016|   
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0017|                           SENATE BILL 113
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0018|   
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0019|   has had it under consideration and reports same with recommendation that
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0020|   it DO PASS, as amended:
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0021|   
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0022|     1.  On page 1, lines 21 and 22, strike "one million dollars
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0023|   ($1,000.000)" and insert in lieu thereof "six hundred twenty-six
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0024|   thousand one hundred twenty-eight ($626,128)".
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0025|   
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0001|     2.  On page 2, line 9, strike "McKinley" and insert in lieu thereof
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0002|   "San Juan".
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0003|   
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0004|   and thence referred to the FINANCE COMMITTEE.
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0005|   
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0006|                              Respectfully submitted,
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0007|   
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0008|   
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0009|   
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0010|                              __________________________________                               John Pinto, Chairman 
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0011|   
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0012|   
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0013|   Adopted_______________________ Not Adopted_______________________
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0014|             (Chief Clerk)                          (Chief Clerk)
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0015|   
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0016|   
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0017|                     Date _______________________
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0018|   
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0019|   The roll call vote was <u> 7 </u> For <u> 0 </u> Against
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0020|   Yes:  7
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0021|   No:        0
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0022|   Excused:   Rutherford
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0023|   Absent:    none
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0024|   
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0025|   
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0001|   S0113IC1
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0002|   
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0003|   
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