0001|                           SENATE BILL 805
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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|                             PETE CAMPOS
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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 PUBLIC SCHOOLS; EXPANDING ELIGIBILITY FOR FUNDING
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0012|     UNDER THE PUBLIC SCHOOL CAPITAL OUTLAY ACT.
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0013|     
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0014|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0015|          Section 1.  Section 22-24-5 NMSA 1978 (being Laws 1975,
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0016|     Chapter 235, Section 5, as amended) is amended to read:
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0017|          "22-24-5.  FUND--DISTRIBUTION.--
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0018|               A.  The council shall approve an application for
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0019|     grant assistance from the fund when the council determines
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0020|     that:
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0021|                    (1)  a critical need exists requiring action;
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0022|                    (2)  the residents of the school district have
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0023|     provided available resources to the district to meet its
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0024|     capital outlay requirements;
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0025|                    (3)  the school district has used its resources
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0001|     in a prudent manner;
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0002|                    (4)  the district is in a county or counties
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0003|     <s>[which]</s> <u>that</u> have participated in a reappraisal program and
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0004|     the reappraised values are on the tax rolls or will be used for
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0005|     the tax year 1979 as certified by the property tax division of
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0006|     the taxation and revenue department;
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0007|                    (5)  the school district has provided insurance
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0008|     for buildings of the school district in accordance with the
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0009|     provisions of Section 13-5-3 NMSA 1978;
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0010|                    (6)  the school district is indebted at not
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0011|     less than <s>[seventy-five]</s> <u>fifty-five</u> percent of the total
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0012|     debt authorized by law; and
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0013|                    (7)  the school district has submitted a
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0014|     five-year facilities plan that includes enrollment projections.
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0015|               B.  The council shall consider all applications for
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0016|     assistance from the fund and, after a public hearing, shall
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0017|     either approve or deny the application.  Applications for grant
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0018|     assistance shall only be accepted by the council after a
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0019|     district has complied with the provisions of this section.  The
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0020|     council shall list all applications in order of priority, and
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0021|     all allocations shall be made on a priority basis; provided,
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0022|     however, except in the case of an emergency, that the order of
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0023|     priority shall first reflect those projects <s>[which]</s> <u>that</u>
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0024|     have been previously funded but are not as yet completed,
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0025|     excluding expansion of those projects and contingent upon
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0001|     maintenance of the required local support.
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0002|               C.  Money in the fund shall be disbursed by warrant
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0003|     of the department of finance and administration on vouchers
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0004|     signed by the secretary of finance and administration following
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0005|     certification by the council that the application has been
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0006|     approved."
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0007|          Section 2.  EFFECTIVE DATE.--The effective date of the
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0008|     provisions of this act is January 1, 1998.
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0009|                              
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