0001| SENATE BILL 390
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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| NANCY RODRIGUEZ
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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 MAKE BUILDING IMPROVEMENTS AT THE NEW
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0014| MEXICO SCHOOL FOR THE DEAF IN SANTA FE COUNTY; MAKING AN
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0015| APPROPRIATION; 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.--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 seven hundred twenty-nine thousand dollars ($729,000) 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 making building improvements
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0008| to the New Mexico school for the deaf, including the
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0009| installation of health and safety devices to comply with the
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0010| federal Americans with Disabilities Act of 1990, and
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0011| improvements to the gymnasium, located in Santa Fe county. Any
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0012| unexpended or unencumbered balance remaining at the end of
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0013| fiscal year 1999 shall revert to the severance tax bonding fund.
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0014| If the local government division of the department of finance
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0015| and administration has not certified the need for the issuance
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0016| of the bonds by the end of fiscal year 1998, the authorization
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0017| provided in this section shall be void.
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0018| Section 2. EMERGENCY.--It is necessary for the public
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0019| peace, health and safety that this act take effect immediately.
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0020|
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0021|
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0022|
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0023| FORTY-SECOND LEGISLATURE
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0024| SECOND SESSION, 1996
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0025|
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0001|
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0002| JANUARY 29, 1996
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0003|
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0004| Mr. President:
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0005|
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0006| Your COMMITTEES' COMMITTEE, to whom has been referred
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0007|
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0008| SENATE BILL 390
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0009|
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0010| has had it under consideration and finds same to be GERMANE, PURSUANT
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0011| TO CONSTITUTIONAL PROVISIONS, and thence referred to the
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0012| CORPORATIONS AND TRANSPORTATION COMMITTEE.
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0013|
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0014| Respectfully submitted,
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0015|
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0016|
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0017|
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0018|
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0019| __________________________________
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0020| SENATOR MANNY M. ARAGON, Chairman
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0021|
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0022|
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0023|
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0024| Adopted_______________________ Not Adopted_______________________
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0025| (Chief Clerk) (Chief Clerk)
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0001|
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0002|
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0003| Date ________________________
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0004|
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0005|
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0006|
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0007| S0390CC1
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0008|
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0009| FORTY-SECOND LEGISLATURE
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0010| SECOND SESSION, 1996
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0011|
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0012|
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0013| February 2, 1996
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0014|
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0015| Mr. President:
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0016|
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0017| Your CORPORATIONS & TRANSPORTATION COMMITTEE, to whom
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0018| has been referred
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0019|
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0020| SENATE BILL 390
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0021|
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0022| has had it under consideration and reports same with recommendation that
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0023| it DO PASS, and thence referred to the FINANCE COMMITTEE.
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0024|
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0025| Respectfully submitted,
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0001|
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0002|
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0003|
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0004| __________________________________
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0005| Roman M. Maes, III, Chairman
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0006|
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0007|
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0008|
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0009| Adopted_______________________ Not Adopted_______________________
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0010| (Chief Clerk) (Chief Clerk)
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0011|
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0012|
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0013| Date ________________________
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0014|
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0015|
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0016| The roll call vote was 5 For 0 Against
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0017| Yes: 5
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0018| No: 0
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0019| Excused: Fidel, McKibben, Reagan, Robinson
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0020| Absent: None
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0021|
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0022|
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0023| S0390CT1
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0024|
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0025|
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