0001| SENATE BILL 427
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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 FOR HEADSTART PROGRAMS IN MCKINLEY COUNTY;
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0014| MAKING AN APPROPRIATION; DECLARING AN EMERGENCY.
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0015|
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0016| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0017| Section 1. SEVERANCE TAX BONDS--PURPOSE FOR WHICH ISSUED--APPROPRIATION OF PROCEEDS.--
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0018| A. The state board of finance may issue and sell
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0019| severance tax bonds in compliance with the Severance Tax Bonding
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0020| Act in an amount not exceeding two hundred thirty thousand two
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0021| hundred sixty-four dollars ($230,264) when the New Mexico office
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0022| of Indian affairs certifies the need for the issuance of the
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0023| bonds. The state board of finance shall schedule the issuance
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0024| and sale of the bonds in the most expeditious and economical
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0025| manner possible upon a finding by the board that the project has
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0001| been developed sufficiently to justify the issuance and that the
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0002| project can proceed to contract within a reasonable time. The
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0003| state board of finance shall further take the appropriate steps
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0004| necessary to comply with the Internal Revenue Code of 1986, as
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0005| amended. The proceeds from the sale of the bonds are
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0006| appropriated to the New Mexico office of Indian affairs in the
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0007| following amounts for the following purposes:
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0008| (1) fifty thousand dollars ($50,000) for
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0009| designing, constructing, equipping and furnishing the Coyote
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0010| Canyon headstart program located in McKinley county;
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0011| (2) one hundred fifty thousand dollars
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0012| ($150,000) for the construction of an addition to and the
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0013| renovation of the Red Lake chapter headstart program in McKinley
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0014| county; and
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0015| (3) thirty thousand two hundred sixty-four
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0016| dollars ($30,264) for the repair of and construction to the
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0017| Church Rock Unit II preschool, a headstart program in McKinley
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0018| county.
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0019| B. If the New Mexico office of Indian affairs has
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0020| not certified the need for the issuance of the bonds by the end
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0021| of fiscal year 1998, the authorization provided in this section
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0022| shall be void. Any unexpended or unencumbered balance remaining
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0023| from the proceeds of severance tax bonds issued pursuant to
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0024| Subsection A of this section at the end of fiscal year 1999
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0025| shall revert to the severance tax bonding fund.
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0001| Section 2. EMERGENCY.--It is necessary for the public
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0002| peace, health and safety that this act take effect immediately.
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0003|
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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| JANUARY 29, 1996
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0010|
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0011| Mr. President:
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0012|
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0013| Your COMMITTTEES' COMMITTEE, to whom has been referred
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0014|
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0015| SENATE BILL 427
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0016|
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0017| has had it under consideration and finds same to be GERMANE, PURSUANT
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0018| TO CONSTITUTIONAL PROVISIONS, and thence referred to the INDIAN AND
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0019| CULTURAL AFFAIRS 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| __________________________________
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0002| SENATOR MANNY M. ARAGON, Chairman
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0003|
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0004|
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0005|
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0006| Adopted_______________________ Not Adopted_______________________
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0007| (Chief Clerk) (Chief Clerk)
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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|
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0014| S0427CC1
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0015|
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0016| FORTY-SECOND LEGISLATURE
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0017| SECOND SESSION, 1996
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0018|
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0019|
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0020| February 1, 1996
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0021|
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0022| Mr. President:
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0023|
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0024| Your INDIAN & CULTURAL AFFAIRS COMMITTEE, to whom has
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0025| been referred
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0001|
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0002| SENATE BILL 427
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0003|
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0004| has had it under consideration and reports same with recommendation that
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0005| it DO PASS, and thence referred to the FINANCE COMMITTEE.
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0006|
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0007| Respectfully submitted,
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0008|
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0009|
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0010|
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0011| __________________________________
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0012| John Pinto, Chairman
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0013|
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0014|
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0015|
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0016| Adopted_______________________ Not Adopted_______________________
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0017| (Chief Clerk) (Chief Clerk)
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0018|
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0019|
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0020|
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0021| Date ________________________
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0022|
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0023|
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0024| The roll call vote was 5 For 0 Against
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0025| Yes: 5
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0001| No: 0
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0002| Excused: Maes, McKibben & Kysar
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0003| Absent: None
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0004|
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0005|
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0006| S0427IC1
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0007|
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