0001| SENATE BILL 658
|
0002| 42ND LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION,
|
0003| 1996
|
0004| INTRODUCED BY
|
0005| JOHN PINTO
|
0006|
|
0007|
|
0008|
|
0009|
|
0010|
|
0011| AN ACT
|
0012| RELATING TO CAPITAL EXPENDITURES; AUTHORIZING THE ISSUANCE OF
|
0013| SEVERANCE TAX BONDS FOR THE OLD COYOTE CANYON ROAD IN MCKINLEY
|
0014| COUNTY; MAKING AN APPROPRIATION; DECLARING AN EMERGENCY.
|
0015|
|
0016| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
|
0017| Section 1. SEVERANCE TAX BONDS--PURPOSE FOR WHICH ISSUED--APPROPRIATION OF PROCEEDS.--The state board of finance may issue
|
0018| and sell severance tax bonds in compliance with the Severance
|
0019| Tax Bonding Act in an amount not exceeding one hundred thousand
|
0020| dollars ($100,000) when the state highway and transportation
|
0021| department certifies the need for the issuance of the bonds.
|
0022| The state board of finance shall schedule the issuance and sale
|
0023| of the bonds in the most expeditious and economical manner
|
0024| possible upon a finding by the board that the project has been
|
0025| developed sufficiently to justify the issuance and that the
|
0001| project can proceed to contract within a reasonable time. The
|
0002| state board of finance shall further take the appropriate steps
|
0003| necessary to comply with the Internal Revenue Code of 1986, as
|
0004| amended. The proceeds from the sale of the bonds are
|
0005| appropriated to the state highway and transportation department
|
0006| for the purpose conducting a survey, acquiring rights of way and
|
0007| obtaining necessary archaeological clearances and environmental
|
0008| assessments for the old Coyote Canyon road located in McKinley
|
0009| county. Any unexpended or unencumbered balance remaining at the
|
0010| end of fiscal year 1999 shall revert to the severance tax
|
0011| bonding fund. If the state highway and transportation
|
0012| department has not certified the need for the issuance of the
|
0013| bonds by the end of fiscal year 1998, the authorization provided
|
0014| in this section shall be void.
|
0015| Section 2. EMERGENCY.--It is necessary for the public
|
0016| peace, health and safety that this act take effect immediately.
|
0017|
|
0018|
|
0019|
|
0020| FORTY-SECOND LEGISLATURE
|
0021| SECOND SESSION, 1996
|
0022|
|
0023|
|
0024| JANUARY 31, 1996
|
0025|
|
0001| Mr. President:
|
0002|
|
0003| Your COMMITTEES' COMMITTEE, to whom has been referred
|
0004|
|
0005| SENATE BILL 658
|
0006|
|
0007| has had it under consideration and finds same to be GERMANE,
|
0008| PURSUANT TO CONSTITUTIONAL PROVISIONS , and thence referred to the
|
0009| INDIAN AND CULTURAL AFFAIRS COMMITTEE.
|
0010|
|
0011| Respectfully submitted,
|
0012|
|
0013|
|
0014|
|
0015|
|
0016| __________________________________
|
0017| SENATOR MANNY M. ARAGON, Chairman
|
0018|
|
0019|
|
0020|
|
0021| Adopted_______________________ Not Adopted_______________________
|
0022| (Chief Clerk) (Chief Clerk)
|
0023|
|
0024|
|
0025| Date ________________________
|
0001|
|
0002|
|
0003|
|
0004| S0658CC1
|
0005|
|
0006| FORTY-SECOND LEGISLATURE
|
0007| SECOND SESSION, 1996
|
0008|
|
0009|
|
0010| February 2, 1996
|
0011|
|
0012| Mr. President:
|
0013|
|
0014| Your INDIAN & CULTURAL AFFAIRS COMMITTEE, to whom has
|
0015| been referred
|
0016|
|
0017| SENATE BILL 658
|
0018|
|
0019| has had it under consideration and reports same with recommendation that
|
0020| it DO PASS, and thence referred to the FINANCE COMMITTEE.
|
0021|
|
0022| Respectfully submitted,
|
0023|
|
0024|
|
0025|
|
0001| __________________________________
|
0002| John Pinto, Chairman
|
0003|
|
0004|
|
0005|
|
0006| Adopted_______________________ Not Adopted_______________________
|
0007| (Chief Clerk) (Chief Clerk)
|
0008|
|
0009|
|
0010| Date ________________________
|
0011|
|
0012|
|
0013| The roll call vote was 8 For 0 Against
|
0014| Yes: 8
|
0015| No: 0
|
0016| Excused: None
|
0017| Absent: None
|
0018|
|
0019|
|
0020| SO658IC1
|
0021|
|
0022|
|