0001| SENATE BILL 491
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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 TO CONSTRUCT THE SANOSTEE CHAPTER SENIOR
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0014| CITIZEN CENTER IN SAN JUAN COUNTY; MAKING AN APPROPRIATION;
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0015| 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 one hundred thousand
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0021| dollars ($100,000) when the state agency on aging certifies the
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0022| need for the issuance of the bonds. The state board of finance
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0023| shall schedule the issuance and sale of the bonds in the most
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0024| expeditious and economical manner possible upon a finding by the
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0025| board that the project has been developed sufficiently to
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0001| justify the issuance and that the project can proceed to
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0002| contract within a reasonable time. The state board of finance
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0003| shall further take the appropriate steps necessary to comply
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0004| 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| state agency on aging for the purpose of constructing a new
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0007| Sanostee senior citizen center located in San Juan county. Any
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0008| unexpended or unencumbered balance remaining at the end of
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0009| fiscal year 1999 shall revert to the severance tax bonding fund.
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0010| If the state agency on aging has not certified the need for the
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0011| issuance of the bonds by the end of fiscal year 1998, the
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0012| authorization provided in this section shall be void.
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0013| Section 2. EMERGENCY.--It is necessary for the public
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0014| peace, health and safety that this act take effect immediately.
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0015|
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0016|
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0017| FORTY-SECOND LEGISLATURE
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0018| SECOND SESSION, 1996
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0019|
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0020|
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0021| JANUARY 30, 1996
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0022|
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0023| Mr. President:
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0024|
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0025| Your COMMITTEES' COMMITTEE, to whom has been referred
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0001|
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0002| SENATE BILL 491
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0003|
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0004| has had it under consideration and finds same to be GERMANE, PURSUANT
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0005| TO CONSTITUTIONAL PROVISIONS, and thence referred to the INDIAN AND
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0006| CULTURAL AFFAIRS COMMITTEE.
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0007|
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0008| Respectfully submitted,
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0009|
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0010|
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0011|
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0012|
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0013| __________________________________
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0014| SENATOR MANNY M. ARAGON, Chairman
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0015|
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0016|
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0017|
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0018| Adopted_______________________ Not Adopted_______________________
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0019| (Chief Clerk) (Chief Clerk)
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0020|
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0021|
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0022| Date ________________________
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0023|
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0024|
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0025|
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0001| S0491CC1
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0002|
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0003| FORTY-SECOND LEGISLATURE
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0004| SECOND SESSION, 1996
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0005|
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0006|
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0007| February 1, 1996
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0008|
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0009| Mr. President:
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0010|
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0011| Your INDIAN & CULTURAL AFFAIRS COMMITTEE, to whom has
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0012| been referred
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0013|
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0014| SENATE BILL 491
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0015|
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0016| has had it under consideration and reports same with recommendation that
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0017| it DO PASS, and thence referred to the FINANCE COMMITTEE.
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0018|
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0019| Respectfully submitted,
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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| John Pinto, 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|
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0008| Date ________________________
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0009|
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0010|
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0011| The roll call vote was 5 For 0 Against
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0012| Yes: 5
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0013| No: 0
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0014| Excused: Maes, McKibben & Kysar
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0015| Absent: None
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0016|
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0017|
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0018| S0491IC1
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0019|
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