0001| SENATE BILL 188
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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 CONSTRUCTION OF CAPITAL PROJECTS IN
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0014| SHEEPSPRINGS IN SAN JUAN 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.--
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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 hundred forty-seven thousand
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0022| seven hundred thirty-one dollars ($147,731) when the New Mexico
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0023| office of Indian affairs certifies the need for the issuance of
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0024| the bonds. The state board of finance shall schedule the
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0025| issuance and sale of the bonds in the most expeditious and
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0001| economical manner possible upon a finding by the board that the
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0002| project has been developed sufficiently to justify the issuance
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0003| and that the project can proceed to contract within a reasonable
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0004| time. The state board of finance shall further take the
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0005| appropriate steps necessary to comply with the Internal Revenue
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0006| Code of 1986, as amended. The proceeds from the sale of the
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0007| bonds are appropriated to the New Mexico office of Indian
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0008| affairs in the following amounts for the following purposes:
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0009| (1) thirty-four thousand dollars ($34,000) to
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0010| complete construction of the Blue Mesa power line extension in
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0011| Sheepsprings in San Juan county; and
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0012| (2) one hundred thirteen thousand seven hundred
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0013| thirty-one dollars ($113,731) to construct and equip a preschool
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0014| building in Sheepsprings in San Juan county.
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0015| B. If the New Mexico office of Indian affairs has
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0016| not certified the need for the issuance of the bonds by the end
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0017| of fiscal year 1998, the authorization provided in this section
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0018| shall be void. Any unexpended or unencumbered balance remaining
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0019| from the proceeds of severance tax bonds issued pursuant to
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0020| Subsection A of this section at the end of fiscal year 1999
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0021| shall revert to the severance tax bonding fund.
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0022| Section 2. EMERGENCY.--It is necessary for the public
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0023| peace, health and safety that this act take effect immediately.
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0024|
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0025|
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0001|
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0002| FORTY-SECOND LEGISLATURE
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0003| SECOND SESSION, 1996
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0004|
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0005|
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0006| JANUARY 24, 1996
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0007|
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0008| Mr. President:
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0009|
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0010| Your COMMITTEES' COMMITTEE, to whom has been referred
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0011|
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0012| SENATE BILL 188
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0013|
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0014| has had it under consideration and finds same to be GERMANE, PURSUANT
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0015| TO CONSTITUTIONAL PROVISIONS, and thence referred to the INDIAN AND
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0016| CULTURAL AFFAIRS COMMITTEE.
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0017|
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0018| Respectfully submitted,
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0019|
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0020|
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0021|
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0022|
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0023| __________________________________
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0024| SENATOR MANNY M. ARAGON, Chairman
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0025|
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0001|
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0002|
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0003| Adopted_______________________ Not Adopted_______________________
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0004| (Chief Clerk) (Chief Clerk)
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0005|
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0006|
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0007| Date ________________________
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0008|
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0009|
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0010|
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0011| S0188CC1
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0012|
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0013| FORTY-SECOND LEGISLATURE
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0014| SECOND SESSION, 1996
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0015|
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0016|
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0017| January 30, 1996
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0018|
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0019| Mr. President:
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0020|
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0021| Your SENATE INDIAN & CULTURAL AFFAIRS COMMITTEE, to
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0022| whom has been referred
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0023|
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0024| SENATE BILL 188
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0025|
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0001| has had it under consideration and reports same with recommendation that
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0002| it DO PASS, and thence referred to the FINANCE COMMITTEE.
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0003|
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0004| Respectfully submitted,
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0005|
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0006|
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0007|
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0008| __________________________________
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0009| John Pinto, Chairman
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0010|
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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|
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0018| Date ________________________
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0019|
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0020|
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0021| The roll call vote was 8 For 0 Against
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0022| Yes: 8
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0023| No: 0
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0024| Excused: None
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0025| Absent: None
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0001|
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0002|
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0003| SO188IC1
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0004|
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