0001| SENATE BILL 494
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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 BUILD A NEW TWO GREY HILLS 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 four hundred six
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0021| thousand eight hundred forty-four dollars ($406,844) when the
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0022| state agency on aging 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 state agency on aging for the purpose of
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0007| designing, constructing and equipping a n new Two Grey Hills
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0008| chapter senior citizen center located in San Juan county. Any
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0009| unexpended or unencumbered balance remaining at the end of
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0010| fiscal year 1999 shall revert to the severance tax bonding fund.
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0011| If the state agency on aging has not certified the need for the
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0012| issuance of the bonds by the end of fiscal year 1998, the
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0013| authorization provided in this section shall be void.
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0014| Section 2. EMERGENCY.--It is necessary for the public
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0015| peace, health and safety that this act take effect immediately.
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0016|
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0017|
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0018| FORTY-SECOND LEGISLATURE
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0019| SECOND SESSION, 1996
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0020|
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0021|
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0022| JANUARY 30, 1996
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0023|
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0024| Mr. President:
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0025|
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0001| Your COMMITTEES' COMMITTEE, to whom has been referred
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0002|
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0003| SENATE BILL 494
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0004|
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0005| has had it under consideration and finds same to be GERMANE, PURSUANT
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0006| TO CONSTITUTIONAL PROVISIONS, and thence referred to the INDIAN AND
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0007| CULTURAL AFFAIRS COMMITTEE.
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0008|
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0009| Respectfully submitted,
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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| __________________________________
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0015| SENATOR MANNY M. ARAGON, Chairman
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0016|
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0017|
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0018|
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0019| Adopted_______________________ Not Adopted_______________________
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0020| (Chief Clerk) (Chief Clerk)
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0021|
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0022|
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0023| Date ________________________
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0024|
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0025|
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0001|
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0002| S0494CC1
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0003|
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0004| FORTY-SECOND LEGISLATURE
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0005| SECOND SESSION, 1996
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0006|
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0007|
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0008| February 1, 1996
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0009|
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0010| Mr. President:
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0011|
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0012| Your INDIAN & CULTURAL AFFAIRS COMMITTEE, to whom has
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0013| been referred
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0014|
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0015| SENATE BILL 494
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0016|
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0017| has had it under consideration and reports same with recommendation that
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0018| it DO PASS, and thence referred to the FINANCE COMMITTEE.
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0019|
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0020| Respectfully submitted,
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0021|
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0022|
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0023|
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0024| __________________________________
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0025| John Pinto, Chairman
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0001|
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0002|
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0003|
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0004| Adopted_______________________ Not Adopted_______________________
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0005| (Chief Clerk) (Chief Clerk)
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0006|
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0007|
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0008|
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0009| Date ________________________
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0010|
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0011|
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0012| The roll call vote was 5 For 0 Against
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0013| Yes: 5
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0014| No: 0
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0015| Excused: Maes, McKibben & Kysar
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0016| Absent: None
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0017|
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0018|
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0019| S0494IC1
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0020|
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