0001| SENATE BILL 115 | 0002| 43rd legislature - STATE OF NEW MEXICO - first session, 1997 | 0003| INTRODUCED BY | 0004| PHILLIP J. MALOOF | 0005| | 0006| | 0007| | 0008| | 0009| | 0010| AN ACT | 0011| RELATING TO CAPITAL EXPENDITURES; AUTHORIZING THE ISSUANCE OF | 0012| SEVERANCE TAX BONDS FOR PURCHASING AND INSTALLING NEW COMPUTER | 0013| NETWORK SYSTEMS AND OTHER OFFICE EQUIPMENT IN SCHOOLS ON THE | 0014| WEST SIDE OF ALBUQUERQUE IN BERNALILLO 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- | 0019| -APPROPRIATION OF PROCEEDS.-- | 0020| A. The state board of finance may issue and sell | 0021| severance tax bonds in compliance with the Severance Tax | 0022| Bonding Act in an amount not exceeding five hundred fifty | 0023| thousand dollars ($550,000) when the state department of public | 0024| education certifies the need for the issuance of the bonds. | 0025| The state board of finance shall schedule the issuance and sale | 0001| of the bonds in the most expeditious and economical manner | 0002| possible upon a finding by the board that the project has been | 0003| developed sufficiently to justify the issuance and that the | 0004| project can proceed to contract within a reasonable time. The | 0005| state board of finance shall further take the appropriate steps | 0006| necessary to comply with the Internal Revenue Code of 1986, as | 0007| amended. The proceeds from the sale of the bonds are | 0008| appropriated to the state department of public education in the | 0009| following amounts for the following purposes: | 0010| (1) three hundred thousand dollars ($300,000) | 0011| to purchase and install a new computer network system, | 0012| including software, and other office equipment at Alamosa, | 0013| Chaparral, Lavaland, Marie M. Hughes, Susie Rayos Marmon and | 0014| Valle Vista elementary schools located on the west side of | 0015| Albuquerque in Bernalillo county; and | 0016| (2) two hundred fifty thousand dollars | 0017| ($250,000) to purchase and install a new computer network | 0018| system, including software, and other office equipment for John | 0019| Adams middle school, West Mesa high school and Lyndon B. | 0020| Johnson middle school on the west side of Albuquerque in | 0021| Bernalillo county. | 0022| B. If the state department of public education has | 0023| not certified the need for the issuance of the bonds by the end | 0024| of fiscal year 1999, the authorization provided in this section | 0025| shall be void. Any unexpended or unencumbered balance | 0001| remaining from the proceeds of severance tax bonds issued | 0002| pursuant to Subsection A of this section at the end of fiscal | 0003| year 2000 shall revert to the severance tax bonding fund. | 0004| Section 2. EMERGENCY.--It is necessary for the public | 0005| peace, health and safety that this act take effect immediately. | 0006|  |