0001| SENATE BILL 191
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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 TO PROVIDE FOR THE HOGBACK CHAPTER HOUSE
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0014| LOCATED IN SAN JUAN COUNTY; MAKING AN APPROPRIATION; DECLARING
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0015| 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 two hundred thirty-five thousand dollars ($235,000) when the local government
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0021| division of the department of finance and administration
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0022| certifies the need for the issuance of the bonds. The state
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0023| board of finance shall schedule the issuance and sale of the
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0024| 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
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0006| local government division of the department of finance and
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0007| administration for the purpose of constructing and equipping the
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0008| Hogback chapter house located in San Juan county. Any
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0009| unexpended or unencumbered balance remaining at the end of
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0010| fiscal year 1999 shall revert to the severance tax bonding fund.
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0011| If the local government division of the department of finance
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0012| and administration has not certified the need for the issuance
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0013| of the bonds by the end of fiscal year 1998, the authorization
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0014| 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| 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 22, 1996
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0024|
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0025| Mr. President:
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0001|
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0002| Your COMMITTEES' COMMITTEE, to whom has been referred
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0003|
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0004| SENATE BILL 191
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0005|
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0006| has had it under consideration and finds same to be GERMANE, PURSUANT
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0007| TO CONSTITUTIONAL PROVISIONS, and thence referred to the INDIAN AND
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0008| CULTURAL AFFAIRS 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| __________________________________
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0016| SENATOR MANNY M. ARAGON, Chairman
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0017|
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0018|
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0019|
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0020| Adopted_______________________ Not Adopted_______________________
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0021| (Chief Clerk) (Chief Clerk)
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0022|
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0023|
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0024| Date ________________________
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0025|
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0001|
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0002|
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0003| S0191CC1
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0004|
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0005| FORTY-SECOND LEGISLATURE
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0006| SECOND SESSION, 1996
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0007|
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0008|
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0009| February 1, 1996
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0010|
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0011| Mr. President:
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0012|
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0013| Your INDIAN & CULTURAL AFFAIRS COMMITTEE, to whom has
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0014| been referred
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0015|
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0016| SENATE BILL 191
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0017|
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0018| has had it under consideration and reports same with recommendation that
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0019| it DO PASS, and thence referred to the FINANCE COMMITTEE.
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0020|
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0021| Respectfully submitted,
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0022|
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0023|
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0024|
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0025| __________________________________
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0001| John Pinto, Chairman
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0002|
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0003|
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0004|
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0005| Adopted_______________________ Not Adopted_______________________
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0006| (Chief Clerk) (Chief Clerk)
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0007|
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0008|
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0009|
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0010| Date ________________________
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0011|
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0012|
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0013| The roll call vote was 5 For 0 Against
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0014| Yes: 5
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0015| No: 0
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0016| Excused: Maes, Kysar, McKibben
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0017| Absent: None
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0018|
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0019|
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0020| S0191IC1
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0021|
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