0001| HOUSE BILL 1308
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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| BRETT D. JOHNSON
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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 WATER; AUTHORIZING THE ISSUANCE OF REVENUE BONDS
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0012| FOR HYDROGRAPHIC SURVEYS USED FOR DETERMINATION OF WATER
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0013| RIGHTS; AMENDING SECTIONS OF THE NMSA 1978.
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0014|
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0015| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0016| Section 1. Section 72-14-4 NMSA 1978 (being Laws 1935,
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0017| Chapter 24, Section 1, as amended) is amended to read:
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0018| "72-14-4. BUDGET AND PLAN SUBMITTED TO GOVERNOR
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0019| ANNUALLY.--The interstate stream commission shall annually
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0020| prepare and submit a budget together with a complete and
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0021| detailed plan looking toward the improvement [of the channel]
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0022| of the Rio Grande in this state, and increasing the surface
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0023| flow of water in the river, during the ensuing fiscal year.
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0024| [Such] The plan and budget shall be submitted annually in
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0025| accordance with the provisions of Sections [11-4-1.1 through
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11-4-7.8 NMSA 1953] 6-3-1 through 6-3-22 NMSA 1978."
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0002| Section 2. Section 72-14-5 NMSA 1978 (being Laws 1935,
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0003| Chapter 24, Section 2, as amended) is amended to read:
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0004| "72-14-5. ANNUAL EXPENDITURES MADE UNDER BUDGET AND
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0005| PLAN.--The interstate stream commission shall annually expend
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0006| from the [moneys hereinafter] money appropriated, within
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0007| the [moneys] money actually available and within the budget
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0008| submitted and approved, in accordance with the provisions of
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0009| Sections [11-4-1.1 through 11-4-7.8 NMSA 1953] 6-3-1 through
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0010| 6-3-22 NMSA 1978, such sum [or sums] as may be necessary for
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0011| the improvement [of the channel] of the Rio Grande in this
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0012| state, and increasing the surface flow of water in the river,
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0013| and in accordance with the plan submitted by [said] the
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0014| commission."
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0015| Section 3. Section 72-14-6 NMSA 1978 (being Laws 1935,
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0016| Chapter 24, Section 3, as amended) is amended to read:
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0017| "72-14-6. APPROPRIATION--HOW DISBURSEMENTS ARE TO BE
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0018| MADE.--There is [hereby] appropriated annually all [moneys]
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0019| money in the improvement of the Rio Grande income fund or as
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0020| much thereof as may be necessary for the purpose of complying
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0021| with Sections [75-34-4 through 75-34-6 NMSA 1953] 72-14-4
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0022| through 72-14-6 and 72-14-9 through 72-14-28 NMSA 1978 and to
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0023| fulfill and carry out [its] their purposes and intentions.
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0024| The appropriations [herein] authorized shall be paid, from
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0025| time to time as may be necessary, upon vouchers approved by the
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0001| interstate stream commission."
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0002| Section 4. Section 72-14-9 NMSA 1978 (being Laws 1955,
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0003| Chapter 266, Section 1) is amended to read:
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0004| "72-14-9. DEFINITIONS.--As used in [this act, the
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following words and terms shall have the following meanings]
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0006| Sections 72-14-9 through 72-14-28 NMSA 1978:
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0007| [(a) The word] A. "engineer" [shall mean]
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0008| or "state engineer" means the state engineer [of the state]
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0009| of New Mexico;
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0010| [(b) The word] B. "commission" [shall mean]
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0011| means the [New Mexico] interstate stream commission or
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0012| other department or agency which may be created and charged
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0013| with the duties and functions of [said] the commission;
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0014| [(c) The word] C. "works" [shall be deemed to
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include] includes all property, rights, easements and
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0016| franchises relating thereto and deemed necessary or convenient
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0017| for their operation, and all water rights acquired or exercised
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0018| by the commission in connection with such works, and shall
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0019| embrace all means of conserving and distributing water,
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0020| including, without limiting the generality of the foregoing,
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0021| reservoirs, dams, diversion canals, distributing canals,
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0022| lateral ditches, pumping units, wells, mains, pipelines and
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0023| waterworks systems and shall include all such works for the
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0024| conservation, development, storage, distribution and
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0025| utilization of water, including, without limiting the
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0001| generality of the foregoing, works for the purpose of irriga-
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0002|
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0003| tion, development of power, watering of stock, supplying of
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0004| water for public, domestic, industrial and other uses, [and]
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0005| for fire protection and for the purpose of obtaining
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0006| hydrographic surveys used by the state engineer for determining
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0007| water rights;
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0008| [(d) The term] D. "cost of works" [shall
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embrace] includes the cost of construction; the cost of all
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0010| lands, property, rights, easements and franchises acquired
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0011| which are deemed necessary for such construction; the cost of
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0012| all water rights acquired or exercised by the commission in
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0013| connection with [such works] a project; the cost of all
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0014| machinery and equipment, financing charges, interest prior to
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0015| and during construction and for a period not exceeding three
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0016| [(3)] years after the completion of construction; the cost
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0017| of engineering and legal expenses, plans, specifications,
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0018| surveys, estimates of cost and other expenses necessary or
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0019| incident to determining the feasibility or [practibility]
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0020| practicability of any project; and administrative expense
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0021| and such other expenses as may be necessary or incident to the
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0022| financing [herein authorized] and the [construction of the
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works] completion of a project and the placing of the
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0024| [same] project in operation;
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0025| [(e) The word] E. "owner" [shall include]
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0001| includes all individuals, irrigation districts, incorporated
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0002| companies, societies or associations having any title or
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0003| interest in any properties, rights, easements or franchises to
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0004| be acquired; and
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0005| [(f) The word] F. "project" [shall mean]
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0006| means any one of the works [hereinabove] defined in this
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0007| section or any combination of such works which are
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0008| [physically connected or] jointly managed and operated as a
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0009| single unit."
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0010| Section 5. Section 72-14-11 NMSA 1978 (being Laws 1955,
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0011| Chapter 266, Section 3) is amended to read:
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0012| "72-14-11. PROJECTS USING REVENUE BOND PROCEEDS
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0013| AUTHORIZED.--
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0014| A. The commission is [hereby] authorized to
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0015| [construct] conduct, whenever it [shall deem] deems
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0016| such [construction] project expedient, any [works as
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hereinabove defined] project, the cost of [such
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construction] which is to be paid wholly by means of or with
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0019| the proceeds of revenue bonds [hereinafter] authorized, or in
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0020| connection with a grant to aid in financing such [construc-
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tion] project from the United States [of America] or any
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0023| instrumentality or agency thereof, or with other funds provided
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0024| under the authority of [this act] Sections 72-14-9 through
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0025| 72-14-28 NMSA 1978. If revenues from the project are intended
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0001| to pay the cost of maintaining, repairing and operating the
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0002| project and to pay the principal and interest of revenue bonds
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0003| that may be issued for the cost of the project, before [con-
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structing] conducting any project, the commission shall make
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0006| estimates of the cost of the project, of the cost of
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0007| maintaining, repairing and operating the [same] project and
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0008| of the revenues to be derived [therefrom] from the project,
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0009| and no such project shall be [constructed] conducted
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0010| unless, according to [such] the estimates, the revenues to
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0011| be derived [therefrom] will be sufficient to pay the cost of
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0012| maintaining, repairing and operating the [same] the project
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0013| and, if no other revenues are to be pledged to repayment of
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0014| bonds that may be issued for the cost of the project, to pay
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0015| the principal and interest of revenue bonds which may be issued
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0016| for the cost of such project; provided, however, that in
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0017| connection with the issuance of any of [such] the bonds,
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0018| the failure of the commission to make the estimates required by
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0019| this section or to make [same] the estimates in proper form
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0020| shall in no way affect the validity or enforceability of any
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0021| such bonds or of the trust indenture, resolution or other
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0022| security [therefor] for the bonds.
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0023| B. The purpose of [this act] Sections 72-14-9
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0024| through 72-14-28 NMSA 1978 is to meet [so far as possible] a
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0025| statewide need for the conservation and use of water through
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0001| [the construction and operation of] projects designed or
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0002| intended for such purposes. The commission is [therefor]
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0003| empowered to make such investigations as may be necessary to
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0004| plan and carry out a comprehensive statewide program of water
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0005| conservation; provided, however, that [this Act] those
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0006| sections shall not be construed to repeal or amend by
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0007| implication or otherwise the provisions of law [heretofore]
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0008| enacted with respect to permits for the acquisition of water
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0009| rights, permits for the change in place or method of use of
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0010| water or permits for the construction of works [and provided
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further that no project shall be authorized in an underground
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water basin not so declared by the state engineer unless there
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has been notice, publication and hearing held as provided by
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law in the case of application to appropriate water in declared
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underground water basins]. The projects to be finally
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0016| [constructed] conducted shall qualify as parts of such
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0017| statewide program and, if applicable shall be approved by the
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0018| commission upon the showing of their prospective ability to
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0019| meet, through the sale of water or other services, the cost of
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0020| operation, maintenance and repair and the amortization of the
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0021| cost of the [construction] project; provided, however, that
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0022| the failure of the commission to determine such prospective
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0023| ability of a project shall in no way affect the validity or
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0024| enforceability of any such bonds."
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0025| Section 6. Section 72-14-13 NMSA 1978 (being Laws 1955,
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0001| Chapter 266, Section 5, as amended) is amended to read:
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0002| "72-14-13. WATER CONSERVATION REVENUE BONDS AUTHORIZED--
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0003| EXTENT OF STATE OBLIGATION.--
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0004| A. The commission, with the approval of the state
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0005| board of finance, is [hereby] authorized to provide by
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0006| resolution [at one time or from time to time] for the
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0007| issuance of water conservation revenue bonds of the state for
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0008| the purpose of paying the cost, as [hereinabove] defined in
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0009| Section 72-14-9 NMSA 1978, of any one or more [such public
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works] projects. The principal of and interest [of
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which] on revenue bonds shall be payable solely from the
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0012| special fund [herein] to be provided for such payment.
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0013| [Such] Revenue bonds shall mature at such time [or
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times], not more than fifty years from their date, [or
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dates] as may be fixed by [such] the resolution, but may
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0016| be made redeemable before maturity at the option of the state,
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0017| to be exercised by the commission, at such price [or prices]
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0018| and under such terms and conditions as may be fixed by the
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0019| [board] commission prior to the issuance of the bonds. The
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0020| [board] commission shall determine the rate of interest
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0021| [such bonds shall bear, not exceeding six percent per annum]
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0022| not in excess of the maximum net effective interest rate
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0023| permitted by the Public Securities Act or the Public Securities
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0024| Short-Term Interest Rate Act on such bonds, the time [or
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times] of payment of such interest, the form of the bonds
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0001| [and the interest coupons to be attached thereto] and the
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0002| manner of executing the bonds [and coupons], and shall fix
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0003| the denomination [or denominations] of the bonds and the
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0004| place [or places] of payment of principal and interest
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0005| thereof [which may be at any bank or trust company within or
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without the state].
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0007| B. All bonds issued under [this act] Sections
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0008| 72-14-9 through 72-14-28 NMSA 1978 shall contain a statement on
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0009| their [face] faces that the state shall not be obligated to
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0010| pay the [same] bonds or the interest [thereon] on the
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0011| bonds except from the [special sinking] "debt service
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0012| fund" hereinafter set forth [and any other moneys pledged
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therefor]. In case any of the officers whose signatures
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0014| appear on the bonds [or coupons shall] cease to be [such]
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0015| officers before the delivery of [such] the bonds, [such]
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0016| the signatures shall nevertheless be valid and sufficient for
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0017| all purposes, [the same] as if [they] the officers had
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0018| remained in office until [such] delivery. All [such] the
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0019| bonds [shall be and shall have and] are [hereby] declared
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0020| to have all the qualities and incidents of negotiable instru-
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0021|
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0022| ments. [Such] The bonds shall not constitute or be a debt,
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0023| liability or obligation of the state, and shall be secured only
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0024| by the revenues of such works and the funds received from the
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0025| sale or disposal of water and from the operation, lease, sale
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0001| or other disposition of the works, property and facilities to
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0002| be acquired out of the proceeds of such bonds and, if so
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0003| pledged by the commission, from income credited to the
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0004| permanent reservoirs for irrigation purposes income fund and
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0005| the improvement of Rio Grande income fund.
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0006| C. Provisions may be made for the registration of
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0007| any of the bonds in the [name of the owner as to principal
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alone or as to both principal and interest] resolution
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0009| authorizing the bonds. The bonds authorized under the
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0010| provisions of [this act] Sections 72-14-9 through 72-14-28
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0011| NMSA 1978 may be issued and sold from time to time at a
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0012| public or private sale to any purchaser, and in such amounts
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0013| as may be determined by the commission, and the commission may
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0014| sell the bonds in such manner and for such price as it may
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0015| determine to be for the best interests of the state. The state
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0016| [treasurer] investment officer is [hereby] authorized to
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0017| invest the permanent funds of the state in the bonds [herein
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authorized]. The proceeds of such bonds shall be used solely
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0019| for the payment of the cost of [the works] a project and
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0020| shall be [checked out] used in such manner and under such
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0021| restrictions, if any, as the commission may provide.
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0022| D. If the proceeds of the bonds, by error of
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0023| calculation or otherwise, [shall be] are less than the cost
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0024| of the [works] project, additional bonds may in like manner
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0025| be issued to provide the amount of such deficit and, unless
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0001| otherwise provided in the resolution authorizing the bonds,
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0002| shall be deemed to be of the same issue and shall be entitled
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0003| to payment from the same fund without preference or priority of
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0004| the bonds first issued for the same [works] project. If
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0005| the proceeds of bonds issued for any such [works shall]
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0006| project exceed the cost [thereof] of the project, the
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0007| surplus shall be paid into the debt service fund
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0008| [hereinafter] provided for the payment of principal and
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0009| interest of such bonds. Prior to the preparation of definitive
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0010| bonds, the [board] commission may [under like restric-
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tions] issue temporary bonds [with or without coupons]
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0013| exchangeable for definitive bonds when such bonds have been
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0014| executed and are available for delivery. Such bonds may be
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0015| issued without any other proceedings or the happening of any
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0016| other conditions or things than those proceedings, conditions
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0017| and things which are specified and required by [this act]
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0018| Sections 72-14-9 through 72-14-28 NMSA 1978 or by the
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0019| constitution of [the state] New Mexico.
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0020| E. Each resolution providing for the issuance of
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0021| bonds shall set forth a project [or projects] for which the
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0022| bonds are to be issued, and the bonds authorized by each such
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0023| resolution shall constitute a separate series. The bonds of
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0024| each series shall be identified by a series number or letter
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0025| [or letters] and may be sold and delivered at one time or
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0001| from time to time."
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0002| Section 7. Section 72-14-14 NMSA 1978 (being Laws 1955,
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0003| Chapter 266, Section 6) is amended to read:
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0004| "72-14-14. REVENUES FROM BONDS TO BE APPLIED TO COST OF
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0005| PROJECTS AND ASSOCIATED EXPENSES.--All [moneys] money
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0006| received from any bonds issued pursuant to [this act]
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0007| Sections 72-14-9 through 72-14-28 NMSA 1978 shall be applied
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0008| solely to the payment of the cost of the [works] project or
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0009| to the appurtenant [sinking] debt service fund [and to the
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administration fund as hereinafter provided], and there
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0011| [shall be and hereby] is created and granted a lien upon such
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0012| [moneys] money until so applied in favor of the holders of
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0013| the bonds or the trustee [hereinafter] provided for in
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0014| respect of such bonds."
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0015| Section 8. Section 72-14-15 NMSA 1978 (being Laws 1955,
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0016| Chapter 266, Section 7) is amended to read:
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0017| "72-14-15. FUNDS ESTABLISHED.--The commission shall
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0018| [create a fund to be known as "administration fund" and shall
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also] create three [(3)] separate funds in respect of the
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0020| bonds of each series: one fund to be known as the
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0021| [construction] "project fund, series . . . . . . . . . .";
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0022| another fund to be known as the [water] "income fund,
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0023| series . . . . . . . . "; and another fund to be known as the
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0024| [sinking] "debt service fund, series . . . . . "; each
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0025| [such] fund to be identified by the same series number or
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0001| letter [or letters] as the bonds of such series. The
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0002| [moneys] money in each [such] fund shall be deposited in
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0003| such depository [or depositories] and secured in such manner
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0004| as may be determined by the [board] commission. It [shall
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be] is lawful for any bank or trust company incorporated
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0006| under the laws of this state or of the United States to act as
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0007| such depository and to furnish such indemnifying bonds or to
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0008| pledge such securities as may be required by the commission. A
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0009| separate account shall be kept in each [construction]
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0010| project fund and in each [water] income fund for each
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0011| project. All expenditures not properly chargeable to the
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0012| [construction] project fund account or to the [water]
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0013| income fund account of any one project shall be charged by
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0014| the commission in such proportions as it [shall determine]
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0015| determines to the [construction] project fund accounts or
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0016| to the [water] income fund accounts, as the case may be, of
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0017| the projects in respect of which such expenditures were
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0018| incurred."
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0019| Section 9. Section 72-14-16 NMSA 1978 (being Laws 1955,
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0020| Chapter 266, Section 8) is amended to read:
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0021| "72-14-16. BOND PROCEEDS TO BE APPROPRIATELY CREDITED.--
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0022| The proceeds of the bonds of each series issued under the
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0023| provisions of [this act] Sections 72-14-9 through 72-14-28
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0024| NMSA 1978 shall be placed to the credit of the appropriate
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0025| [construction] project fund, which fund shall [at all
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times] be kept segregated and set apart from all other funds.
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0002| There shall be credited to the appropriate debt service fund
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0003| all accrued interest received upon sale of the bonds and
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0004| there shall also be credited to the appropriate
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0005| [construction] project fund [all accrued interest upon the
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bonds and] the interest received upon the deposits of
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0007| [moneys] money in [such] the project fund and
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0008| [moneys] money received by way of grant from the United
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0009| States or from any other source for the [construction of the
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works] project. The [moneys] money in each
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0011| [construction] project fund shall be paid out or disbursed
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0012| in such manner as may be determined by the commission, subject
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0013| to the provisions of [this act] those sections, to pay the
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0014| cost of the [works as hereinabove defined. Any surplus which
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may remain in any construction fund after providing for the
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payment of the cost of the works shall be added to and become a
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part of the appropriate sinking fund hereinafter provided for]
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0018| project and there is hereby appropriated annually the money in
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0019| each project fund for the purposes intended by the
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0020| commission."
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0021| Section 10. Section 72-14-17 NMSA 1978 (being Laws 1955,
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0022| Chapter 266, Section 9) is amended to read:
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0023| "72-14-17. COMMISSION TO SET PRICES, RATES OR CHARGES--
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0024| CONTRACTS--DISPOSITION OF PROPERTY.--
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0025| A. The commission is [hereby] authorized [and
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empowered], subject to the provisions of [this act]
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0002| Sections 72-14-9 through 72-14-28 NMSA 1978, to fix and
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0003| establish the prices, rates and charges at which [any and
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all] the resources and facilities made available under the
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0005| provisions of [this act] those sections shall be sold and
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0006| disposed of; to enter into [any and all] contracts and
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0007| agreements, and to do [any and all] things which in its
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0008| judgment are necessary, convenient or expedient for the
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0009| accomplishment of [any and all] the purposes and objects of
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0010| [this act] those sections, under such general regulations
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0011| and upon such terms, limitations and conditions as it shall
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0012| [prescribed and] prescribe. If no other revenues are
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0013| pledged to repay the bonds, it is [and shall be] the duty of
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0014| the [board] commission to enter into such contracts and fix
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0015| and establish such prices, rates and charges so as to provide
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0016| [at all times] funds [which] that will be sufficient to
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0017| pay [all] costs of operation and maintenance [of any and
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all] of the works authorized by [this act] those sections,
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0019| together with necessary repairs thereto, and [which] that
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0020| will provide [at all times] sufficient funds to meet and pay
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0021| the principal and interest of all bonds as they severally
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0022| become due and payable; provided that nothing contained in
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0023| [this act] Sections 72-14-9 through 72-14-28 NMSA 1978
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0024| shall authorize any change, alteration or revision of any such
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0025| rates, prices or charges as established by any contract entered
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0001| into under authority of [this act] those sections except as
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0002| provided by any such contract.
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0003| B. Every contract made by the commission for the
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0004| sale of water, use of water, water storage or other service or
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0005| for the sale of any property or facilities shall provide that
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0006| in the event of [any] failure or default in the payment of
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0007| [any moneys] money specified in [such] the contract to
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0008| be paid to the commission, the commission may, upon such notice
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0009| as shall be prescribed in [such] the contract, terminate
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0010| [such] the contract and all obligations [thereunder]
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0011| under it. The act of the commission in ceasing on any
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0012| [such] default to furnish or deliver water, use of water,
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0013| water storage or other service under [such] the contract
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0014| shall not deprive the commission of or limit any remedy
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0015| provided by such contract or by law for the recovery of [any
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and all moneys] money due or which may become due under
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0017| [such] the contract.
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0018| C. The commission is empowered to sell or
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0019| otherwise dispose of any rights of way, easements or property
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0020| when it [shall determine] determines that the same is no
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0021| longer needed for the purposes of [this act] Sections 72-14-
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0022| 9 through 72-14-28 NMSA 1978, or to lease or rent the same or
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0023| to otherwise take and receive the income or profit and revenue
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0024| therefrom. All income or profit and revenue of the works and
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0025| all [moneys] money received from the sale or disposal of
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0001| water, use of water, water storage or other service and from
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0002| the operation, lease, sale or other disposition of the works,
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0003| property and facilities acquired under the provisions of [this
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act] those sections shall be paid to the credit of the
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0005| appropriate [water] income fund."
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0006| Section 11. Section 72-14-18 NMSA 1978 (being Laws 1955,
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0007| Chapter 266, Section 10) is amended to read:
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0008| "72-14-18. DEBT SERVICE FUND--PAYMENTS INTO FUND--FUND
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0009| PLEDGED FOR PAYMENT OF INTEREST, FISCAL CHARGES AND REPAYMENT
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0010| OF PRINCIPAL.--The commission shall provide, in the
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0011| proceedings authorizing the issuance of each series of bonds,
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0012| for the paying into the appropriate [sinking] debt service
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0013| funds at stated intervals money from other revenues pledged to
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0014| repay the bonds or all [moneys] money then remaining in
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0015| the [water] income fund, after paying all cost of
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0016| operation, maintenance and repairs of the works. All
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0017| [moneys] money in each [sinking] debt service fund
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0018| shall be pledged for the payment of and used only for the pur-
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0019|
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0020| pose of paying:
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0021| [(a)] A. interest upon the bonds as such
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0022| interest [shall fall] falls due; [and
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(b)] B. the necessary fiscal agency charges for
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0024| paying bonds and interest; [and
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(c)] C. the principal of the bonds as they fall
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0001| due; and
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0002| [(d)] D. any premiums upon bonds retired by
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0003| call or purchase as herein provided.
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0004| Prior to the issuance of the bonds of each series, the
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0005| [board] commission may provide by resolution for using the
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0006| [sinking] debt service fund or any part thereof in the
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0007| purchase of any of the outstanding bonds payable therefrom at
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0008| the [marked] market price thereof [but not exceeding the
|
price, if any, at which the same shall, at the next interest
|
date, be payable or redeemable, and all bonds redeemed or
|
purchased shall forthwith be cancelled and no bonds shall be
|
issued in place thereof]. The [moneys] money in each
|
0013| [sinking] debt service fund, less such reserve as may be
|
0014| provided for in the
|
0015| resolution authorizing the bonds for the payment of interest
|
0016| [and/or], principal, or both, if not used within a
|
0017| reasonable time for the purchase of bonds [for cancellation]
|
0018| as [above] provided in this section, shall be applied to
|
0019| the redemption of bonds then subject to redemption at the
|
0020| redemption price then applicable."
|
0021| Section 12. Section 72-14-19 NMSA 1978 (being Laws 1955,
|
0022| Chapter 266, Section 11) is amended to read:
|
0023| "72-14-19. PERMANENT RESERVOIRS FOR IRRIGATION PURPOSES
|
0024| INCOME FUND--RIO GRANDE INCOME FUND--APPROPRIATION. [In
|
addition So much of] Each year's income [creditable]
|
0001| credited to the permanent reservoirs for irrigation purposes
|
0002| income fund [as shall be necessary for the purposes
|
hereinabove enumerated] and the improvement of Rio Grande
|
0004| income fund may be pledged irrevocably to the payment of the
|
0005| principal of and interest on revenue bonds by the commission
|
0006| with the approval of the state board of finance, and there [is
|
hereby] are irrevocably appropriated to the commission
|
0008| [sufficient] amounts from [said fund] the funds for
|
0009| [said] such purposes. The commission shall provide in the
|
0010| proceedings authorizing the issuance of each series of bonds
|
0011| for the paying into the appropriate [sinking fund] income
|
0012| and debt service funds all [moneys] money received
|
0013| pursuant [hereto] to this section."
|
0014| Section 13. Section 72-14-22 NMSA 1978 (being Laws 1955,
|
0015| Chapter 266, Section 14) is amended to read:
|
0016| "72-14-22. RIGHTS OF BONDHOLDERS--ENFORCEMENT.--Any
|
0017| holder of any bonds issued under the provisions of [this act
|
or any of the coupons attached thereto] Sections 72-14-9
|
0019| through 72-14-28 NMSA 1978 except to the extent the rights
|
0020| herein given may be restricted by resolution passed before the
|
0021| issuance of the bonds, may, either at law or in equity, by
|
0022| suit, action, mandamus or other proceeding, protect and enforce
|
0023| any [and all] rights granted hereunder or under such
|
0024| resolution and may enforce and compel performance of all duties
|
0025| required by [this act] those sections or by such resolution
|
0001| to be performed by the commission. [While] The state pledges
|
0002| and agrees that while any bonds issued by the commission
|
0003| remain outstanding, the powers, duties or existence of the
|
0004| commission or any official or agency of the state and the
|
0005| distribution of revenues pledged to payment of the bonds to the
|
0006| commission shall not be diminished or impaired in any manner
|
0007| that will affect adversely the interests and rights of the
|
0008| holders of such bonds. The commission is authorized to include
|
0009| this pledge and agreement of the state in any agreement with
|
0010| the holders of the bonds."
|
0011| Section 14. Section 72-14-26 NMSA 1978 (being Laws 1955,
|
0012| Chapter 266, Section 17) is amended to read:
|
0013| "72-14-26. DISPOSITION OF WATER FOR PUBLIC, DOMESTIC,
|
0014| INDUSTRIAL AND OTHER USES.--In addition to the powers
|
0015| conferred [hereby] upon the commission to sell, lease and
|
0016| otherwise dispose of waters for the purpose of irrigation,
|
0017| development of power, watering of stock or other purposes, the
|
0018| commission shall have power to sell, lease and otherwise
|
0019| dispose of waters from its waterworks systems for public,
|
0020| domestic, industrial and other uses and for fire [prevention.
|
The commission, after the discharge of all of the bonds issued
|
by the commission to finance the construction or acquisition of
|
any works and of all interest thereon and costs and expenses
|
incurred in connection with any action or proceeding by or on
|
behalf of the holders of such bonds, shall reconvey the same to
|
the grantors thereof] protection."
|
0002| State of New Mexico
|
0003| House of Representatives
|
0004|
|
0005| FORTY-THIRD LEGISLATURE
|
0006| FIRST SESSION, 1997
|
0007|
|
0008|
|
0009| March 8, 1997
|
0010|
|
0011|
|
0012| Mr. Speaker:
|
0013|
|
0014| Your AGRICULTURE AND WATER RESOURCES COMMITTEE,
|
0015| to whom has been referred
|
0016|
|
0017| HOUSE BILL 1308
|
0018|
|
0019| has had it under consideration and reports same with
|
0020| recommendation that it DO PASS, and thence referred to the
|
0021| TAXATION AND REVENUE COMMITTEE.
|
0022|
|
0023| Respectfully submitted,
|
0024|
|
0025|
|
0001|
|
0002|
|
0003|
|
0004| G. X. McSherry, Chairman
|
0005|
|
0006|
|
0007| Adopted Not Adopted
|
0008|
|
0009| (Chief Clerk) (Chief Clerk)
|
0010|
|
0011| Date
|
0012|
|
0013| The roll call vote was 5 For 0 Against
|
0014| Yes: 5
|
0015| Excused: Abeyta, McSherry, Porter, Townsend
|
0016| Absent: None
|
0017|
|
0018|
|
0019| G:\BILLTEXT\BILLW_97\H1308 State of New Mexico
|
0020| House of Representatives
|
0021|
|
0022| FORTY-THIRD LEGISLATURE
|
0023| FIRST SESSION, 1997
|
0024|
|
0025|
|
0001| March 14, 1997
|
0002|
|
0003|
|
0004| Mr. Speaker:
|
0005|
|
0006| Your TAXATION AND REVENUE COMMITTEE, to whom has
|
0007| been referred
|
0008|
|
0009| HOUSE BILL 1308
|
0010|
|
0011| has had it under consideration and reports same with
|
0012| recommendation that it DO PASS, amended as follows:
|
0013|
|
0014| 1. On page 7, line 18, after "finance" insert "and in
|
0015| accordance with the state board of finance's adopted policies and
|
0016| procedures on financing approvals".
|
0017|
|
0018| 2. On page 9, line 21, after "purchaser," insert "including
|
0019| the New Mexico finance authority,".
|
0020|
|
0021| 3. On page 19, line 7, after "USES" insert "--RECONVEYANCE
|
0022| TO GRANTORS".
|
0023|
|
0024| 4. On page 19, lines 13 through 18, remove the brackets and
|
0025| line-through.
|
0001|
|
0002| 5. On page 19, line 13, strike "prevention" and insert in
|
0003| lieu thereof "protection".
|
0004|
|
0005| 6. On page 19, line 15, after "works" insert ", except for
|
0006| hydrographic surveys used by the state engineer for determining
|
0007| water rights,".
|
0008|
|
0009| 7. On page 19, line 19, strike "protection".
|
0010|
|
0011|
|
0012| Respectfully submitted,
|
0013|
|
0014|
|
0015|
|
0016|
|
0017|
|
0018| Jerry W. Sandel, Chairman
|
0019|
|
0020|
|
0021| Adopted Not Adopted
|
0022|
|
0023| (Chief Clerk) (Chief Clerk)
|
0024|
|
0025| Date
|
0001|
|
0002| The roll call vote was 10 For 0 Against
|
0003| Yes: 10
|
0004| Excused: Lujan, Porter, Sandoval
|
0005| Absent: None
|
0006|
|
0007|
|
0008| .118853.1
|
0009| G:\BILLTEXT\BILLW_97\H1308 State of New Mexico
|
0010| House of Representatives
|
0011|
|
0012| FORTY-THIRD LEGISLATURE
|
0013| FIRST SESSION, 1997
|
0014|
|
0015|
|
0016| March 14, 1997
|
0017|
|
0018|
|
0019| Mr. Speaker:
|
0020|
|
0021| Your TAXATION AND REVENUE COMMITTEE, to whom has
|
0022| been referred
|
0023|
|
0024| HOUSE BILL 1308
|
0025|
|
0001| has had it under consideration and reports same with
|
0002| recommendation that it DO PASS, amended as follows:
|
0003|
|
0004| 1. On page 7, line 18, after "finance" insert "and in
|
0005| accordance with the state board of finance's adopted policies and
|
0006| procedures on financing approvals".
|
0007|
|
0008| 2. On page 9, line 21, after "purchaser," insert "including
|
0009| the New Mexico finance authority,".
|
0010|
|
0011| 3. On page 19, line 7, after "USES" insert "--RECONVEYANCE
|
0012| TO GRANTORS".
|
0013|
|
0014| 4. On page 19, lines 13 through 18, remove the brackets and
|
0015| line-through.
|
0016|
|
0017| 5. On page 19, line 13, strike "prevention" and insert in
|
0018| lieu thereof "protection".
|
0019|
|
0020| 6. On page 19, line 15, after "works" insert ", except for
|
0021| hydrographic surveys used by the state engineer for determining
|
0022| water rights,".
|
0023|
|
0024| 7. On page 19, line 19, strike "protection".
|
0025|
|
0001|
|
0002| Respectfully submitted,
|
0003|
|
0004|
|
0005|
|
0006|
|
0007|
|
0008| Jerry W. Sandel, Chairman
|
0009|
|
0010|
|
0011| Adopted Not Adopted
|
0012|
|
0013| (Chief Clerk) (Chief Clerk)
|
0014|
|
0015| Date
|
0016|
|
0017| The roll call vote was 10 For 0 Against
|
0018| Yes: 10
|
0019| Excused: Lujan, Porter, Sandoval
|
0020| Absent: None
|
0021|
|
0022|
|
0023| .118853.1
|
0024| G:\BILLTEXT\BILLW_97\H1308 FORTY-THIRD LEGISLATURE
|
0025| FIRST SESSION
|
0001|
|
0002|
|
0003| March 17, 1997
|
0004|
|
0005|
|
0006| HOUSE FLOOR AMENDMENT number ___1___ to HOUSE BILL 1308, as amended
|
0007|
|
0008| Amendment sponsored by Representative Brett D. Johnson
|
0009|
|
0010|
|
0011| 1. On page 1, line 13, after "1978" insert "; MAKING AN
|
0012| APPROPRIATION".
|
0013|
|
0014| 2. On page 7, line 22, after "projects" insert ", subject to the
|
0015| conditions provided for in Subsection F of this section".
|
0016|
|
0017| 3. On page 11, between lines 8 and 9, insert a new subsection to
|
0018| read:
|
0019|
|
0020| "F. Revenue bonds issued by the commission for obtaining
|
0021| hydrographic surveys used by the state engineer shall mature not later
|
0022| than ten years from their date of issuance. The commission shall issue
|
0023| bonds for hydrographic surveys in a total amount not exceeding four
|
0024| million dollars ($4,000,000) and in amounts not to exceed two million
|
0025| dollars ($2,000,000) in any fiscal year commencing July 1, 1998.".
|
0001|
|
0002| 4. On page 19, between lines 19 and 20, insert the following new
|
0003| section to read:
|
0004|
|
0005| "Section 15. APPROPRIATIONS.--
|
0006|
|
0007| A. One million dollars ($1,000,000) is appropriated from the
|
0008| irrigation works construction fund to the state engineer for
|
0009| expenditure in fiscal years 1998 and 1999 for the purpose of conducting
|
0010| hydrographic surveys. Any unexpended or unencumbered balance remaining
|
0011| at the end of fiscal year 1999 shall revert to the irrigation works
|
0012| construction fund.
|
0013|
|
0014|
|
0015|
|
0016| B. Five hundred thousand dollars ($500,000) is appropriated
|
0017| from the improvement of the Rio Grande income fund to the state
|
0018| engineer for expenditure in fiscal years 1998 and 1999 for the purpose
|
0019| of conducting hydrographic surveys. Any unexpended or unencumbered
|
0020| balance remaining at the end of fiscal year 1999 shall revert to the
|
0021| improvement of the Rio Grande income fund.".
|
0022|
|
0023|
|
0024|
|
0025|
|
0001|
|
0002|
|
0003|
|
0004|
|
0005| ___________________________
|
0006| Brett D. Johnson
|
0007|
|
0008|
|
0009|
|
0010| Adopted ___________________ Not Adopted ___________________________
|
0011| (Chief Clerk) (Chief Clerk)
|
0012|
|
0013|
|
0014| Date ________________
|
0015|
|
0016| FORTY-THIRD LEGISLATURE
|
0017| FIRST SESSION, 1997
|
0018|
|
0019|
|
0020| March 18, 1997
|
0021|
|
0022| Mr. President:
|
0023|
|
0024| Your CONSERVATION COMMITTEE, to whom has been referred
|
0025|
|
0001| HOUSE BILL 1308, as amended
|
0002|
|
0003| has had it under consideration and reports same with recommendation
|
0004| that it DO PASS.
|
0005|
|
0006| Respectfully submitted,
|
0007|
|
0008|
|
0009|
|
0010| __________________________________
|
0011| Michael S. Sanchez, Chairman
|
0012|
|
0013|
|
0014|
|
0015| Adopted_______________________ Not Adopted_______________________
|
0016| (Chief Clerk) (Chief Clerk)
|
0017|
|
0018|
|
0019|
|
0020| Date ________________________
|
0021|
|
0022|
|
0023| The roll call vote was 8 For 0 Against
|
0024| Yes: 8
|
0025| No: None
|
0001| Excused: Eisenstadt, Lyons
|
0002| Absent: None
|
0003|
|
0004|
|
0005| H1308C01
|