0001| SENATE BILL 217
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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| SHANNON ROBINSON
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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 PLAN, DESIGN AND CONSTRUCT RESTROOM
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0014| FACILITIES, DRESSING ROOM FACILITIES AND OTHER NECESSARY
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0015| RENOVATIONS AT THE INDIAN VILLAGE AND TO PLAN, DESIGN, EXPAND
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0016| AND MAKE OTHER RENOVATIONS TO COMPLY WITH THE FEDERAL AMERICANS
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0017| WITH DISABILITIES ACT OF 1990 TO THE INDIAN BUILDING OF FINE
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0018| ARTS AND OTHER EXHIBITION AND PERFORMANCE-RELATED FACILITIES AT
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0019| THE NEW MEXICO STATE FAIR IN ALBUQUERQUE LOCATED IN BERNALILLO
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0020| COUNTY; MAKING AN APPROPRIATION; DECLARING AN EMERGENCY.
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0021|
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0022| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0023| Section 1. SEVERANCE TAX BONDS--PURPOSE FOR WHICH ISSUED--APPROPRIATION OF PROCEEDS.--The state board of finance may issue
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0024| and sell severance tax bonds in compliance with the Severance
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0025| Tax Bonding Act in an amount not exceeding eight hundred
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0001| thousand dollars ($800,000) when the state fair commission
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0002| certifies the need for the issuance of the bonds. The state
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0003| board of finance shall schedule the issuance and sale of the
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0004| bonds in the most expeditious and economical manner possible
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0005| upon a finding by the board that the project has been developed
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0006| sufficiently to justify the issuance and that the project can
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0007| proceed to contract within a reasonable time. The state board
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0008| of finance shall further take the appropriate steps necessary to
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0009| comply with the Internal Revenue Code of 1986, as amended. The
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0010| proceeds from the sale of the bonds are appropriated to the
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0011| state fair commission to plan, design and construct restroom
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0012| facilities, dressing room facilities and other necessary
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0013| renovations at the Indian village and to plan, design, expand
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0014| and make other renovations to comply with the federal Americans
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0015| with Disabilities Act of 1990 to the Indian building of fine
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0016| arts and other exhibition and performance-related facilities at
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0017| the New Mexico state fair in Albuquerque located in Bernalillo
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0018| county. Any unexpended or unencumbered balance remaining from
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0019| the proceeds from the bonds at the end of fiscal year 1999 shall
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0020| revert to the severance tax bonding fund. If the state fair
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0021| commission has not certified the need for the issuance of the
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0022| bonds by the end of fiscal year 1998, the authorization provided
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0023| in this section shall be void.
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0024| Section 2. EMERGENCY.--It is necessary for the public
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0025| peace, health and safety that this act take effect immediately.
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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 217
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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 FINANCE
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0016| 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| S0217CC1
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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| February 7, 1996
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0018|
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0019| Mr. President:
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0020|
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0021| Your PUBLIC AFFAIRS COMMITTEE, to whom has been referred
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0022|
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0023| SENATE BILL 217
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0024|
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0025| has had it under consideration and reports same with recommendation that
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0001| it DO PASS, and thence referred to the FINANCE COMMITTEE.
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0002|
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0003| Respectfully submitted,
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0004|
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0005|
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0006|
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0007| __________________________________
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0008| Shannon Robinson, Chairman
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0009|
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0010|
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0011|
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0012| Adopted_______________________ Not Adopted_______________________
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0013| (Chief Clerk) (Chief Clerk)
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0014|
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0015|
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0016| Date ________________________
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0017|
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0018|
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0019| The roll call vote was 5 For 0 Against
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0020| Yes: 5
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0021| No: 0
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0022| Excused: Naranjo, E. Jennings. Robinson
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0023| Absent: None
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0024|
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0025|
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0001| S0217PA1
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0002|
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0003|
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