0001| SENATE BILL 667
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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 LEE RAWSON
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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 COMPLETE A RAILROAD CROSSING IN THE CITY
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0014| OF ALAMOGORDO LOCATED IN OTERO 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 six hundred fifty
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0021| thousand dollars ($650,000) when the state highway and
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0022| transportation department certifies the need for the issuance of
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0023| the bonds. The state board of finance shall schedule the
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0024| issuance and sale of the bonds in the most expeditious and
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0025| economical manner possible upon a finding by the board that the
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0001| project has been developed sufficiently to justify the issuance
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0002| and that the project can proceed to contract within a reasonable
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0003| time. The state board of finance shall further take the
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0004| appropriate steps necessary to comply with the Internal Revenue
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0005| Code of 1986, as amended. The proceeds from the sale of the
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0006| bonds are appropriated to the state highway and transportation
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0007| department for the purpose of relocating the railroad siding
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0008| that parallels White Sands boulevard to allow for a crossing of
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0009| the railroad at Tenth street, including siding removal and
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0010| necessary improvements, in Alamogordo located in Otero county.
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0011| Any unexpended or unencumbered balance remaining at the end of
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0012| fiscal year 1999 shall revert to the severance tax bonding fund.
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0013| If the state highway and transportation department has not
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0014| certified the need for the issuance of the bonds by the end of
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0015| fiscal year 1998, the authorization provided in this section
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0016| shall be void.
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0017| Section 2. EMERGENCY.--It is necessary for the public
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0018| peace, health and safety that this act take effect immediately.
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0019|
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0020|
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0021|
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0022| FORTY-SECOND LEGISLATURE
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0023| SECOND SESSION, 1996
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0024|
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0025|
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0001| JANUARY 31, 1996
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0002|
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0003| Mr. President:
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0004|
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0005| Your COMMITTEES' COMMITTEE, to whom has been referred
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0006|
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0007| SENATE BILL 667
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0008|
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0009| has had it under consideration and finds same to be GERMANE, PURSUANT
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0010| TO CONSTITUTIONAL PROVISIONS, and thence referred to the
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0011| CORPORATIONS AND TRANSPORTATION COMMITTEE.
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0012|
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0013| Respectfully submitted,
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0014|
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0015|
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0016|
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0017|
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0018| __________________________________
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0019| SENATOR MANNY M. ARAGON, Chairman
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0020|
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0021|
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0022|
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0023| Adopted_______________________ Not Adopted_______________________
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0024| (Chief Clerk) (Chief Clerk)
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0025|
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0001|
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0002| Date ________________________
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0003|
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0004|
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0005|
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0006| S0667CC1
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0007|
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0008| FORTY-SECOND LEGISLATURE
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0009| SECOND SESSION, 1996
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0010|
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0011|
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0012| February 2, 1996
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0013|
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0014| Mr. President:
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0015|
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0016| Your CORPORATIONS & TRANSPORTATION COMMITTEE, to whom
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0017| has been referred
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0018|
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0019| SENATE BILL 667
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0020|
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0021| has had it under consideration and reports same with recommendation that
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0022| it DO PASS, and thence referred to the FINANCE COMMITTEE.
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0023|
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0024| Respectfully submitted,
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0025|
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0001|
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0002|
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0003| __________________________________
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0004| Roman M. Maes, III, Chairman
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0005|
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0006|
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0007|
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0008| Adopted_______________________ Not Adopted_______________________
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0009| (Chief Clerk) (Chief Clerk)
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0010|
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0011|
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0012| Date ________________________
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0013|
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0014|
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0015| The roll call vote was 5 For 0 Against
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0016| Yes: 5
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0017| No: 0
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0018| Excused: Fidel, McKibben, Reagan, Robinson
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0019| Absent: None
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0020|
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0021|
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0022| S0667CT1
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0023|
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0024|
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0025|
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0001| FORTY-SECOND LEGISLATURE
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0002| SECOND SESSION, 1996
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0003|
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0004|
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0005| February 2, 1996
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0006|
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0007| Mr. President:
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0008|
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0009| Your CORPORATIONS & TRANSPORTATION COMMITTEE, to whom
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0010| has been referred
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0011|
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0012| SENATE BILL 667
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0013|
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0014| has had it under consideration and reports same with recommendation that
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0015| it DO PASS, and thence referred to the FINANCE COMMITTEE.
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0016|
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0017| Respectfully submitted,
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0018|
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0019|
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0020|
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0021| __________________________________
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0022| Roman M. Maes, III, Chairman
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0023|
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0024|
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0025|
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0001| Adopted_______________________ Not Adopted_______________________
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0002| (Chief Clerk) (Chief Clerk)
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0003|
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0004|
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0005| Date ________________________
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0006|
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0007|
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0008| The roll call vote was 5 For 0 Against
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0009| Yes: 5
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0010| No: 0
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0011| Excused: Fidel, McKibben, Reagan, Robinson
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0012| Absent: None
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0013|
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0014|
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0015| S0667CT1
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0016|
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0017|
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