0001| HOUSE BILL 203 | 0002| 43rd legislature - STATE OF NEW MEXICO - first session, 1997 | 0003| INTRODUCED BY | 0004| WILLIAM E. PORTER | 0005| | 0006| | 0007| | 0008| | 0009| | 0010| AN ACT | 0011| RELATING TO CAPITAL EXPENDITURES; AUTHORIZING THE ISSUANCE OF | 0012| SEVERANCE TAX BONDS FOR CAPITAL OUTLAY IN NORTHERN DONA ANA | 0013| COUNTY; MAKING AN APPROPRIATION; DECLARING AN EMERGENCY. | 0014| | 0015| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: | 0016| Section 1. SEVERANCE TAX BONDS--PURPOSE FOR WHICH ISSUED- | 0017| -APPROPRIATION OF PROCEEDS.-- | 0018| A. The state board of finance may issue and sell | 0019| severance tax bonds in compliance with the Severance Tax | 0020| Bonding Act in an amount not exceeding seventy-three thousand | 0021| dollars ($73,000) when the local government division of the | 0022| department of finance and administration certifies the need for | 0023| the issuance of the bonds. The state board of finance shall | 0024| schedule the issuance and sale of the bonds in the most | 0025| expeditious and economical manner possible upon a finding by | 0001| the board that the project has been developed sufficiently to | 0002| justify the issuance and that the project can proceed to | 0003| contract within a reasonable time. The state board of finance | 0004| shall further take the appropriate steps necessary to comply | 0005| with the Internal Revenue Code of 1986, as amended. The | 0006| proceeds from the sale of the bonds are appropriated to the | 0007| local government division of the department of finance and | 0008| administration in the following amounts for the following | 0009| purposes: | 0010| (1) eight thousand seven hundred dollars | 0011| ($8,700) to design, construct, purchase and install shelves, | 0012| ramps, tables, railings, water fountains and restroom | 0013| facilities that meet the requirements of the Americans with | 0014| Disabilities Act of 1990 for the Hatch public library located | 0015| in Hatch in Dona Ana county; | 0016| (2) fifty-two thousand dollars ($52,000) to | 0017| purchase and install lights and related fixtures for the north | 0018| Dona Ana county ballpark in Dona Ana county; | 0019| (3) twelve thousand three hundred dollars | 0020| ($12,300) to design, construct, purchase and install doorways, | 0021| doors, ramps, railings, sidewalks, windows, commodes and | 0022| urinals that meet the requirements of the Americans with | 0023| Disabilities Act of 1990 for the concession stand, restrooms | 0024| and parking lot at the north Dona Ana county ballpark in Dona | 0025| Ana county. | 0001| B. If the local government division of the | 0002| department of finance and administration has not certified the | 0003| need for the issuance of the bonds by the end of fiscal year | 0004| 1999, the authorization provided in this section shall be void. | 0005| Any unexpended or unencumbered balance remaining from the | 0006| proceeds of severance tax bonds issued pursuant to Subsection A | 0007| of this section at the end of fiscal year 2000 shall revert to | 0008| the severance tax bonding fund. | 0009| Section 2. EMERGENCY.--It is necessary for the public | 0010| peace, health and safety that this act take effect immediately. | 0011|  |