0001| SENATE BILL 826 | 0002| 42ND LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION, | 0003| 1996 | 0004| INTRODUCED BY | 0005| CYNTHIA NAVA | 0006| | 0007| | 0008| | 0009| | 0010| | 0011| AN ACT | 0012| RELATING TO THE PUBLIC PEACE, HEALTH, SAFETY AND WELFARE. | 0013| | 0014| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: | 0015| .110993.1 | 0016| | 0017| FORTY-SECOND LEGISLATURE | 0018| SECOND SESSION, 1996 | 0019| | 0020| | 0021| February 10, 1996 | 0022| | 0023| Mr. President: | 0024| | 0025| Your PUBLIC AFFAIRS COMMITTEE, to whom has been | 0001| referred | 0002| | 0003| SENATE BILL 826 | 0004| | 0005| has had it under consideration and reports same with | 0006| recommendation that it DO NOT PASS, but that | 0007| | 0008| SENATE PUBLIC AFFAIRS COMMITTEE SUBSTITUTE FOR | 0009| SENATE BILL 826 | 0010| | 0011| DO PASS, and further recommends that it be referred to the | 0012| COMMITTEES' COMMITTEE, and thence to the FINANCE | 0013| COMMITTEE. | 0014| | 0015| Respectfully submitted, | 0016| | 0017| | 0018| | 0019| __________________________________ | 0020| Shannon Robinson, Chairman | 0021| | 0022| | 0023| Adopted_______________________ Not Adopted_______________________ | 0024| (Chief Clerk) (Chief Clerk) | 0025| | 0001| Date ________________________ | 0002| | 0003| | 0004| | 0005| | 0006| S0826PA1 SENATE PUBLIC AFFAIRS COMMITTEE SUBSTITUTE FOR | 0007| SENATE BILL 826 | 0008| 42nd legislature - STATE OF NEW MEXICO - second session, 1996 | 0009| | 0010| | 0011| | 0012| | 0013| | 0014| | 0015| | 0016| AN ACT | 0017| RELATING TO THE PUBLIC PEACE, HEALTH, SAFETY AND WELFARE; | 0018| AUTHORIZING THE ISSUANCE OF SEVERANCE TAX BONDS TO PLAN, DESIGN | 0019| AND CONSTRUCT A PUBLIC HEALTH FACILITY IN THE CITY OF SUNLAND | 0020| PARK IN DONA ANA COUNTY; MAKING AN APPROPRIATION; DECLARING AN | 0021| EMERGENCY. | 0022| | 0023| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: | 0024| Section 1. SEVERANCE TAX BONDS--PURPOSE FOR WHICH ISSUED--APPROPRIATION OF PROCEEDS.--The state board of finance may issue | 0025| and sell severance tax bonds in compliance with the Severance | 0001| Tax Bonding Act in an amount not exceeding eight hundred | 0002| seventy-five thousand dollars ($875,000) when the local | 0003| government division of the department of finance and | 0004| administration certifies the need for the issuance of the bonds. | 0005| The state board of finance shall schedule the issuance and sale | 0006| of the bonds in the most expeditious and economical manner | 0007| possible upon a finding by the board that the project has been | 0008| developed sufficiently to justify the issuance and that the | 0009| project can proceed to contract within a reasonable time. The | 0010| state board of finance shall further take the appropriate steps | 0011| necessary to comply with the Internal Revenue Code of 1986, as | 0012| amended. The proceeds from the sale of the bonds are | 0013| appropriated to the local government division of the department | 0014| of finance and administration for the purpose of planning, | 0015| designing and constructing a public health facility in Sunland | 0016| Park located in Dona Ana county. Any unexpended or unencumbered | 0017| balance remaining at the end of fiscal year 1999 shall revert to | 0018| the severance tax bonding fund. If the local government | 0019| division of the department of finance and administration has not | 0020| certified the need for the issuance of the bonds by the end of | 0021| fiscal year 1998, the authorization provided in this section | 0022| shall be void. | 0023| Section 2. EMERGENCY.--It is necessary for the public | 0024| peace, health and safety that this act take effect immediately. | 0025|  SENATE PUBLIC AFFAIRS COMMITTEE SUBSTITUTE FOR | 0001| SENATE BILL 826 | 0002| 42nd legislature - STATE OF NEW MEXICO - second session, 1996 | 0003| | 0004| | 0005| | 0006| | 0007| | 0008| | 0009| | 0010| AN ACT | 0011| RELATING TO THE PUBLIC PEACE, HEALTH, SAFETY AND WELFARE; | 0012| AUTHORIZING THE ISSUANCE OF SEVERANCE TAX BONDS TO PLAN, DESIGN | 0013| AND CONSTRUCT A PUBLIC HEALTH FACILITY IN THE CITY OF SUNLAND | 0014| PARK IN DONA ANA COUNTY; MAKING AN APPROPRIATION; DECLARING AN | 0015| 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 eight hundred | 0021| seventy-five thousand dollars ($875,000) when the local | 0022| government division of the department of finance and | 0023| administration certifies the need for the issuance of the bonds. | 0024| The state board of finance shall schedule the issuance and sale | 0025| of the bonds in the most expeditious and economical manner | 0001| possible upon a finding by the board that the project has been | 0002| developed sufficiently to justify the issuance and that the | 0003| project can proceed to contract within a reasonable time. The | 0004| state board of finance shall further take the appropriate steps | 0005| necessary to comply with the Internal Revenue Code of 1986, as | 0006| amended. The proceeds from the sale of the bonds are | 0007| appropriated to the local government division of the department | 0008| of finance and administration for the purpose of planning, | 0009| designing and constructing a public health facility in Sunland | 0010| Park located in Dona Ana county. Any unexpended or unencumbered | 0011| balance remaining at the end of fiscal year 1999 shall revert to | 0012| the severance tax bonding fund. If the local government | 0013| division of the department of finance and administration has not | 0014| certified the need for the issuance of the bonds by the end of | 0015| fiscal year 1998, the authorization provided in this section | 0016| shall be void. | 0017| Section 2. EMERGENCY.--It is necessary for the public | 0018| peace, health and safety that this act take effect immediately. | 0019|  |