0001| SENATE BILL 744
|
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 TO PLAN, DESIGN OR CONSTRUCT A SOCIAL
|
0014| SERVICES BUILDING AT TOHATCHI IN MCKINLEY COUNTY; MAKING AN
|
0015| APPROPRIATION; DECLARING AN EMERGENCY.
|
0016|
|
0017| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
|
0018| Section 1. SEVERANCE TAX BONDS--PURPOSE FOR WHICH ISSUED--APPROPRIATION OF PROCEEDS.--The state board of finance may issue
|
0019| and sell severance tax bonds in compliance with the Severance
|
0020| Tax Bonding Act in an amount not exceeding four hundred fifty
|
0021| thousand dollars ($450,000) when the New Mexico office of Indian
|
0022| affairs certifies the need for the issuance of the bonds. The
|
0023| state board of finance shall schedule the issuance and sale of
|
0024| the bonds in the most expeditious and economical manner possible
|
0025| upon a finding by the board that the project has been developed
|
0001| sufficiently to justify the issuance and that the project can
|
0002| proceed to contract within a reasonable time. The state board
|
0003| of finance shall further take the appropriate steps necessary to
|
0004| comply with the Internal Revenue Code of 1986, as amended. The
|
0005| proceeds from the sale of the bonds are appropriated to the New
|
0006| Mexico office of Indian affairs for the purpose of planning,
|
0007| designing or constructing a social services building in Tohatchi
|
0008| located in McKinley county. Any unexpended or unencumbered
|
0009| balance remaining at the end of fiscal year 1999 shall revert to
|
0010| the severance tax bonding fund. If the New Mexico office of
|
0011| Indian affairs has not certified the need for the issuance of
|
0012| the bonds by the end of fiscal year 1998, the authorization
|
0013| provided in this section shall be void.
|
0014| Section 2. EMERGENCY.--It is necessary for the public
|
0015| peace, health and safety that this act take effect immediately.
|
0016|
|
0017|
|
0018|
|
0019| FORTY-SECOND LEGISLATURE
|
0020| SECOND SESSION, 1996
|
0021|
|
0022|
|
0023| FEBRUARY 1, 1996
|
0024|
|
0025| Mr. President:
|
0001|
|
0002| Your COMMITTEES' COMMITTEE, to whom has been referred
|
0003|
|
0004| SENATE BILL 744
|
0005|
|
0006| has had it under consideration and finds same to be GERMANE, PURSUANT
|
0007| TO CONSTITUTIONAL PROVISIONS, and thence referred to the INDIAN AND
|
0008| CULTURAL AFFAIRS COMMITTEE.
|
0009|
|
0010| Respectfully submitted,
|
0011|
|
0012|
|
0013|
|
0014|
|
0015| __________________________________
|
0016| SENATOR MANNY M. ARAGON, Chairman
|
0017|
|
0018|
|
0019|
|
0020| Adopted_______________________ Not Adopted_______________________
|
0021| (Chief Clerk) (Chief Clerk)
|
0022|
|
0023|
|
0024| Date ________________________
|
0025|
|
0001|
|
0002|
|
0003| S0744CC1
|
0004|
|
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 744
|
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| SO744IC1
|
0021|
|
0022|
|