0001| SENATE BILL 288 | 0002| 43rd legislature - STATE OF NEW MEXICO - first session, 1997 | 0003| INTRODUCED BY | 0004| PETE CAMPOS | 0005| | 0006| | 0007| | 0008| | 0009| | 0010| AN ACT | 0011| RELATING TO CAPITAL EXPENDITURES; AUTHORIZING THE ISSUANCE OF | 0012| SEVERANCE TAX BONDS TO CONSTRUCT THE BOSQUE REDONDO MEMORIAL | 0013| AND MUSEUM AT FORT SUMNER IN DE BACA COUNTY; MAKING AN | 0014| APPROPRIATION; DECLARING AN EMERGENCY. | 0015| | 0016| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: | 0017| Section 1. SEVERANCE TAX BONDS--PURPOSE FOR WHICH ISSUED- | 0018| -APPROPRIATION OF PROCEEDS.--The state board of finance may | 0019| issue and sell severance tax bonds in compliance with the | 0020| Severance Tax Bonding Act in an amount not exceeding three | 0021| million two hundred thirty-four thousand eight hundred fifty- | 0022| six dollars ($3,234,856) when the office of cultural affairs | 0023| certifies the need for the issuance of the bonds. The state | 0024| board of finance shall schedule the issuance and sale of the | 0025| bonds in the most expeditious and economical manner possible | 0001| upon a finding by the board that the project has been developed | 0002| sufficiently to justify the issuance and that the project can | 0003| proceed to contract within a reasonable time. The state board | 0004| of finance shall further take the appropriate steps necessary | 0005| to comply with the Internal Revenue Code of 1986, as amended. | 0006| The proceeds from the sale of the bonds are appropriated to the | 0007| office of cultural affairs for the purpose of constructing a | 0008| facility consisting of a visitors' center, staff housing and a | 0009| maintenance shop; for equipping, landscaping and site | 0010| development; and to pay all related professional and | 0011| administrative fees to complete construction of the Bosque | 0012| Redondo memorial and museum located in De Baca county. Any | 0013| unexpended or unencumbered balance remaining at the end of | 0014| fiscal year 2000 shall revert to the severance tax bonding | 0015| fund. If the office of cultural affairs has not certified the | 0016| need for the issuance of the bonds by the end of fiscal year | 0017| 1999, the authorization provided in this section shall be void. | 0018| Section 2. EMERGENCY.--It is necessary for the public | 0019| peace, health and safety that this act take effect immediately. | 0020|  |