0001|                            HOUSE BILL 651
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0002|     43rd legislature - STATE OF NEW MEXICO - first session, 1997
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0003|                            INTRODUCED BY
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0004|                          SANDRA L. TOWNSEND
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0005|     
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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|                                AN ACT
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0011|     RELATING TO CAPITAL EXPENDITURES; AUTHORIZING THE ISSUANCE OF
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0012|     SEVERANCE TAX BONDS FOR CAPITAL PROJECTS ON THE JICARILLA
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0013|     APACHE RESERVATION IN RIO ARRIBA COUNTY; MAKING AN
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0014|     APPROPRIATION; DECLARING AN EMERGENCY.
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0015|     
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0016|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0017|          Section 1.  SEVERANCE TAX BONDS--PURPOSES FOR WHICH
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0018|     ISSUED-APPROPRIATION OF PROCEEDS.--
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0019|               A.  The state board of finance may issue and sell
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0020|     severance tax bonds in compliance with the Severance Tax
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0021|     Bonding Act in an amount not exceeding the amount specified in
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0022|     this section when the New Mexico office of Indian affairs
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0023|     certifies the need for the issuance of the bonds.  The state
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0024|     board of finance shall schedule the issuance and sale of the
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0025|     bonds in the most expeditious and economical manner possible
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0001|     upon a finding by the board that the project has been developed
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0002|     sufficiently to justify the issuance and that the project can
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0003|     proceed to contract within a reasonable time.  The state board
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0004|     of finance shall further take the appropriate steps necessary
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0005|     to comply with the Internal Revenue Code of 1986, as amended. 
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0006|     The proceeds from the sale of the bonds are appropriated to the
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0007|     New Mexico office of Indian affairs in the following amounts
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0008|     for the following purposes on the Jicarilla Apache reservation
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0009|     in Rio Arriba county:
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0010|                    (1)  ninety thousand dollars ($90,000) to pave
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0011|     the Jicarilla Apache department of education library parking
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0012|     lot;
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0013|                    (2)  ten thousand dollars ($10,000) for three
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0014|     complete computer work stations at the Jicarilla Apache
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0015|     department of education library; and
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0016|                    (3)  eighty-five thousand dollars ($85,000) to
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0017|     construct, equip and furnish an addition to the Jicarilla
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0018|     Apache mental health and social service department office.
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0019|               B.  If the New Mexico office of Indian affairs has
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0020|     not certified the need for the issuance of the bonds by the end
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0021|     of fiscal year 1999, the authorization provided in this section
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0022|     shall be void.  Any unexpended or unencumbered balance
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0023|     remaining from the proceeds of severance tax bonds issued
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0024|     pursuant to Subsection A of this section at the end of fiscal
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0025|     year 2000 shall revert to the severance tax bonding fund. 
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0001|          Section 2.  EMERGENCY.--It is necessary for the public
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0002|     peace, health and safety that this act take effect immediately.
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0003|                                  
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