0001| SENATE BILL 339 | 0002| 42ND LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION, | 0003| 1996 | 0004| INTRODUCED BY | 0005| PETE CAMPOS | 0006| | 0007| | 0008| | 0009| | 0010| | 0011| AN ACT | 0012| RELATING TO CAPITAL EXPENDITURES; AUTHORIZING THE ISSUANCE OF | 0013| SEVERANCE TAX BONDS FOR CERTAIN CAPITAL PROJECTS IN LAS VEGAS | 0014| LOCATED IN SAN MIGUEL COUNTY; MAKING APPROPRIATIONS; DECLARING | 0015| AN EMERGENCY. | 0016| | 0017| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: | 0018| Section 1. SEVERANCE TAX BONDS--AUTHORIZATIONS-- | 0019| APPROPRIATION OF PROCEEDS.-- | 0020| A. The state board of finance may issue and sell | 0021| severance tax bonds in compliance with the Severance Tax Bonding | 0022| Act in an amount not to exceed the total of the amounts | 0023| authorized for purposes specified in Sections 2 through 4 of | 0024| this act. The state board of finance shall schedule the | 0025| issuance and sale of the bonds in the most expeditious and | 0001| economical manner possible upon a finding by the board that the | 0002| project has been developed sufficiently to justify the issuance | 0003| and that the project can proceed to contract within a reasonable | 0004| time. The state board of finance shall further take the | 0005| appropriate steps necessary to comply with the Internal Revenue | 0006| Code of 1986, as amended. Proceeds from the sale of the bonds | 0007| are appropriated for the purposes specified in Sections 2 | 0008| through 4 of this act. | 0009| B. The agencies named in Sections 2 through 4 of | 0010| this act shall certify to the state board of finance when the | 0011| money from the proceeds of the severance tax bonds authorized in | 0012| this section is needed for the purposes specified in the | 0013| applicable section of this act. | 0014| C. If the specified agency has not certified the | 0015| need for the issuance of the bonds by the end of fiscal year | 0016| 1998, the authorization provided in this act shall be void. | 0017| D. Unless otherwise specified in this act, any | 0018| unexpended or unencumbered balance remaining from the proceeds | 0019| of severance tax bonds issued pursuant to Sections 2 through 4 | 0020| of this act at the end of fiscal year 1999 shall revert to the | 0021| severance tax bonding fund. | 0022| Section 2. SEVERANCE TAX BONDS--DEPARTMENT OF ENVIRONMENT--PURPOSES.--Pursuant to the provisions of Section 1 of this act, | 0023| upon certification by the department of environment that the | 0024| need exists for the issuance of the bonds, the following amounts | 0025| are appropriated to the department of environment for the | 0001| following purposes: | 0002| A. three million two hundred fifty thousand dollars | 0003| ($3,250,000) to expand the Las Vegas water treatment facility | 0004| located in San Miguel county; and | 0005| B. one million five hundred sixty thousand dollars | 0006| ($1,560,000) to redesign and construct phase II of the effluent | 0007| line from the wastewater treatment facility to Mills avenue in | 0008| Las Vegas located in San Miguel county. | 0009| Section 3. SEVERANCE TAX BONDS--DEPARTMENT OF FINANCE AND | 0010| ADMINISTRATION--PURPOSES.--Pursuant to the provisions of Section | 0011| 1 of this act, upon certification by the local government | 0012| division of the department of finance and administration that | 0013| the need exists for the issuance of the bonds, the following | 0014| amounts are appropriated to the local government division of the | 0015| department of finance and administration for the following | 0016| purposes: | 0017| A. five hundred thousand dollars ($500,000) to | 0018| purchase fire equipment and vehicles for the Las Vegas fire | 0019| department located in San Miguel county; | 0020| B. two million one hundred ninety-eight thousand | 0021| five hundred dollars ($2,198,500) to complete phase II of the | 0022| construction of the recreation and community center in Las Vegas | 0023| located in San Miguel county; | 0024| C. one hundred thousand dollars ($100,000) to | 0025| complete the community master plan for the city of Las Vegas | 0001| located in San Miguel county; and | 0002| D. thirty-six thousand dollars ($36,000) to expand | 0003| the welcome center in Las Vegas located in San Miguel county. | 0004| Section 4. SEVERANCE TAX BONDS--STATE HIGHWAY AND | 0005| TRANSPORTATION DEPARTMENT--PURPOSE.--Pursuant to the provisions | 0006| of Section 1 of this act, upon certification by the state | 0007| highway and transportation department that the need exists for | 0008| the issuance of the bonds, eight hundred eight thousand five | 0009| hundred dollars ($808,500) is appropriated to the state highway | 0010| and transportation department for the purpose of making street | 0011| improvements to Second street and the housing area in Las Vegas | 0012| located in San Miguel county. | 0013| Section 5. EMERGENCY.--It is necessary for the public | 0014| peace, health and safety that this act take effect immediately. | 0015|  | 0016| | 0017| FORTY-SECOND LEGISLATURE | 0018| SECOND SESSION, 1996 | 0019| | 0020| | 0021| JANUARY 26, 1996 | 0022| | 0023| Mr. President: | 0024| | 0025| Your COMMITTEES' COMMITTEE, to whom has been referred | 0001| | 0002| SENATE BILL 339 | 0003| | 0004| has had it under consideration and finds same to be GERMANE, PURSUANT | 0005| TO CONSTITUTIONAL PROVISIONS, and thence referred to the FINANCE | 0006| COMMITTEE. | 0007| | 0008| Respectfully submitted, | 0009| | 0010| | 0011| | 0012| | 0013| __________________________________ | 0014| SENATOR MANNY M. ARAGON, Chairman | 0015| | 0016| | 0017| | 0018| Adopted_______________________ Not Adopted_______________________ | 0019| (Chief Clerk) (Chief Clerk) | 0020| | 0021| | 0022| Date ________________________ | 0023| | 0024| | 0025| | 0001| S0339CC1 |