0001| SENATE BILL 182
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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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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 TO PLAN, DESIGN OR CONSTRUCT A CHAPTER HOUSE
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0014| AT TWIN LAKES IN MCKINLEY COUNTY; MAKING AN APPROPRIATION;
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0015| DECLARING AN 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.--The state board of finance may issue
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0019| and sell severance tax bonds in compliance with the Severance
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0020| Tax Bonding Act in an amount not exceeding seven hundred fifty
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0021| thousand dollars ($750,000) when the New Mexico office of Indian
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0022| affairs certifies the need for the issuance of the bonds. The
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0023| state board of finance shall schedule the issuance and sale of
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0024| the bonds in the most expeditious and economical manner possible
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0025| upon a finding by the board that the project has been developed
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0001| sufficiently to justify the issuance and that the project can
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0002| proceed to contract within a reasonable time. The state board
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0003| of finance shall further take the appropriate steps necessary to
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0004| comply with the Internal Revenue Code of 1986, as amended. The
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0005| proceeds from the sale of the bonds are appropriated to the New
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0006| Mexico office of Indian affairs for the purpose of planning,
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0007| designing or constructing a chapter house at Twin Lakes located
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0008| in McKinley county. Any unexpended or unencumbered balance
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0009| remaining at the end of fiscal year 1999 shall revert to the
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0010| severance tax bonding fund. If the New Mexico office of Indian
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0011| affairs has not certified the need for the issuance of the bonds
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0012| by the end of fiscal year 1998, the authorization provided in
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0013| this section shall be void.
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0014| Section 2. EMERGENCY.--It is necessary for the public
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0015| peace, health and safety that this act take effect immediately.
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0016|
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0017|
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0018| FORTY-SECOND LEGISLATURE
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0019| SECOND SESSION, 1996
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0020|
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0021|
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0022| JANUARY 24, 1996
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0023|
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0024| Mr. President:
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0025|
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0001| Your COMMITTEES' COMMITTEE, to whom has been referred
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0002|
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0003| SENATE BILL 182
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0004|
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0005| has had it under consideration and finds same to be GERMANE, PURSUANT
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0006| TO CONSTITUTIONAL PROVISIONS, and thence referred to the INDIAN AND
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0007| CULTURAL AFFAIRS COMMITTEE.
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0008|
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0009| Respectfully submitted,
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0010|
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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| SENATOR MANNY M. ARAGON, 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|
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0002| S0182CC1
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0003|
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0004| FORTY-SECOND LEGISLATURE
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0005| SECOND SESSION, 1996
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0006|
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0007|
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0008| January 30, 1996
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0009|
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0010| Mr. President:
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0011|
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0012| Your SENATE INDIAN & CULTURAL AFFAIRS COMMITTEE, to
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0013| whom has been referred
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0014|
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0015| SENATE BILL 182
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0016|
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0017| has had it under consideration and reports same with recommendation that
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0018| it DO PASS, and thence referred to the FINANCE COMMITTEE.
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0019|
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0020| Respectfully submitted,
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0021|
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0022|
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0023|
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0024| __________________________________
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0025| John Pinto, Chairman
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0001|
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0002|
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0003|
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0004| Adopted_______________________ Not Adopted_______________________
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0005| (Chief Clerk) (Chief Clerk)
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0006|
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0007|
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0008|
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0009| Date ________________________
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0010|
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0011|
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0012| The roll call vote was 8 For 0 Against
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0013| Yes: 8
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0014| No: 0
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0015| Excused: None
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0016| Absent: None
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0017|
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0018|
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0019| SO182IC1
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0020|
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