0001|                        SENATE BILL 224
    |
0002|     42ND LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION,
    |
0003|     1996
    |
0004|                         INTRODUCED BY
    |
0005|                          CYNTHIA NAVA
    |
0006|     
    |
0007|                                
    |
0008|     
    |
0009|     
    |
0010|     
    |
0011|                             AN ACT
    |
0012|     RELATING TO CAPITAL EXPENDITURES; AUTHORIZING THE ISSUANCE OF
    |
0013|     SEVERANCE TAX BONDS FOR THE PURCHASE OF A PRENATAL AND MATERNAL
    |
0014|     MOBILE HEALTH CLINIC FOR THE CITY OF LAS CRUCES AND DONA ANA
    |
0015|     COUNTY; MAKING AN APPROPRIATION; DECLARING AN EMERGENCY.
    |
0016|     
    |
0017|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
    |
0018|       Section 1.  SEVERANCE TAX BONDS--PURPOSE FOR WHICH ISSUED--APPROPRIATION OF PROCEEDS.--The state board of finance may issue
    |
0019|     and sell severance tax bonds in compliance with the Severance
    |
0020|     Tax Bonding Act in an amount not exceeding seventy-five thousand
    |
0021|     dollars ($75,000) when the department of health certifies the
    |
0022|     need for the issuance of the bonds.  The state board of finance
    |
0023|     shall schedule the issuance and sale of the bonds in the most
    |
0024|     expeditious and economical manner possible upon a finding by the
    |
0025|     board that the project has been developed sufficiently to
    |
0001|     justify the issuance and that the project can proceed to
    |
0002|     contract within a reasonable time.  The state board of finance
    |
0003|     shall further take the appropriate steps necessary to comply
    |
0004|     with the Internal Revenue Code of 1986, as amended.  The
    |
0005|     proceeds from the sale of the bonds are appropriated to the
    |
0006|     department of health for the purpose of purchasing and equipping
    |
0007|     a prenatal and maternal mobile health clinic for the city of Las
    |
0008|     Cruces and Dona Ana county located in Dona Ana county.  The
    |
0009|     certification and issuance of bonds is contingent upon receipt
    |
0010|     of forty-two thousand five hundred dollars ($42,500) from
    |
0011|     private sources for operating costs.  Any unexpended or
    |
0012|     unencumbered balance remaining at the end of fiscal year 1999
    |
0013|     shall revert to the severance tax bonding fund.  If the
    |
0014|     department of health has not certified the need for the issuance
    |
0015|     of the bonds by the end of fiscal year 1998, the authorization
    |
0016|     provided in this section shall be void.
    |
0017|       Section 2.  EMERGENCY.--It is necessary for the public
    |
0018|     peace, health and safety that this act take effect immediately.
    |
0019|                                - 2 -    
    |
0020|   
    |
0021|                    FORTY-SECOND LEGISLATURE
    |
0022|                      SECOND SESSION, 1996
    |
0023|   
    |
0024|   
    |
0025|                                              JANUARY 24, 1996
    |
0001|   
    |
0002|   Mr. President:
    |
0003|   
    |
0004|     Your COMMITTEES' COMMITTEE, to whom has been referred
    |
0005|   
    |
0006|                           SENATE BILL 224
    |
0007|   
    |
0008|   has had it under consideration and finds same to be GERMANE, PURSUANT
    |
0009|   TO CONSTITUTIONAL PROVISIONS, and thence referred to the FINANCE
    |
0010|   COMMITTEE.
    |
0011|   
    |
0012|                              Respectfully submitted,
    |
0013|   
    |
0014|   
    |
0015|   
    |
0016|   
    |
0017|                              __________________________________
    |
0018|                              SENATOR MANNY M. ARAGON, Chairman 
    |
0019|   
    |
0020|   
    |
0021|   
    |
0022|   Adopted_______________________ Not Adopted_______________________
    |
0023|             (Chief Clerk)                        (Chief Clerk)
    |
0024|   
    |
0025|   
    |
0001|                     Date ________________________
    |
0002|   
    |
0003|   
    |
0004|   
    |
0005|   S0224CC1
    |