0001| SENATE BILL 585
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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| LEONARD TSOSIE
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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 DESIGN, CONSTRUCT AND EQUIP THE TORREON
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0014| SENIOR CITIZEN CENTER FOR THE TORREON/STARLAKE NAVAJO CHAPTER
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0015| LOCATED IN SANDOVAL COUNTY; MAKING AN APPROPRIATION; DECLARING
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0016| AN EMERGENCY.
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0017|
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0018| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0019| Section 1. SEVERANCE TAX BONDS--PURPOSE FOR WHICH ISSUED--APPROPRIATION OF PROCEEDS.--The state board of finance may issue
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0020| and sell severance tax bonds in compliance with the Severance
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0021| Tax Bonding Act in an amount not exceeding three hundred
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0022| thousand dollars ($300,000) when the New Mexico office of Indian
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0023| affairs certifies the need for the issuance of the bonds. The
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0024| state board of finance shall schedule the issuance and sale of
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0025| the bonds in the most expeditious and economical manner possible
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0001| upon a finding by the board that the project has been developed
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0002| sufficiently to justify the issuance and that the project can
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0003| proceed to contract within a reasonable time. The state board
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0004| of finance shall further take the appropriate steps necessary to
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0005| comply with the Internal Revenue Code of 1986, as amended. The
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0006| proceeds from the sale of the bonds are appropriated to the New
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0007| Mexico office of Indian affairs for the purpose of designing,
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0008| constructing and equipping the Torreon senior citizen center for
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0009| the Torreon/Starlake Navajo chapter located in Sandoval county.
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0010| Any unexpended or unencumbered balance remaining at the end of
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0011| fiscal year 1999 shall revert to the severance tax bonding fund.
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0012| If the New Mexico office of Indian affairs has not certified the
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0013| need for the issuance of the bonds by the end of fiscal year
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0014| 1998, the authorization provided in this section shall be void.
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0015| Section 2. EMERGENCY.--It is necessary for the public
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0016| peace, health and safety that this act take effect immediately.
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0017|
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0018|
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0019| FORTY-SECOND LEGISLATURE
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0020| SECOND SESSION, 1996
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0021|
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0022|
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0023| JANUARY 31, 1996
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0024|
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0025| Mr. President:
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0001|
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0002| Your COMMITTEES' COMMITTEE, to whom has been referred
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0003|
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0004| SENATE BILL 585
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0005|
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0006| has had it under consideration and finds same to be GERMANE, PURSUANT
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0007| TO CONSTITUTIONAL PROVISIONS, and thence referred to the INDIAN AND
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0008| CULTURAL AFFAIRS COMMITTEE.
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0009|
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0010| Respectfully submitted,
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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| __________________________________
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0016| SENATOR MANNY M. ARAGON, Chairman
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0017|
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0018|
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0019|
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0020| Adopted_______________________ Not Adopted_______________________
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0021| (Chief Clerk) (Chief Clerk)
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0022|
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0023|
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0024| Date ________________________
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0025|
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0001|
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0002|
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0003| S0585CC1
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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| February 2, 1996
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0010|
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0011| Mr. President:
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0012|
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0013| Your INDIAN & CULTURAL AFFAIRS COMMITTEE, to whom has
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0014| been referred
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0015|
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0016| SENATE BILL 585
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0017|
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0018| has had it under consideration and reports same with recommendation that
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0019| it DO PASS, and thence referred to the FINANCE 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| John Pinto, Chairman
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0002|
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0003|
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0004|
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0005| Adopted_______________________ Not Adopted_______________________
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0006| (Chief Clerk) (Chief Clerk)
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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 8 For 0 Against
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0013| Yes: 8
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0014| No: 0
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0015| Excused: None
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0016| Absent: None
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0017|
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0018|
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0019| SO585IC1
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0020|
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0021|
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