0001|                           SENATE BILL 838
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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|                           MANNY M. ARAGON
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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 IMPROVEMENTS TO DENNIS CHAVEZ PARK IN
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0013|     BERNALILLO COUNTY; MAKING AN APPROPRIATION; DECLARING AN
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0014|     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--PURPOSE FOR WHICH ISSUED-
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0018|     -APPROPRIATION OF PROCEEDS.--The state board of finance may
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0019|     issue and sell severance tax bonds in compliance with the
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0020|     Severance Tax Bonding Act in an amount not exceeding three
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0021|     hundred fifty thousand dollars ($350,000) when the local
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0022|     government division of the department of finance and
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0023|     administration certifies the need for the issuance of the
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0024|     bonds.  The state board of finance shall schedule the issuance
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0025|     and sale of the bonds in the most expeditious and economical
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0001|     manner possible upon a finding by the board that the project
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0002|     has been developed sufficiently to justify the issuance and
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0003|     that the project can proceed to contract within a reasonable
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0004|     time.  The state board of finance shall further take the
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0005|     appropriate steps necessary to comply with the Internal Revenue
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0006|     Code of 1986, as amended.  The proceeds from the sale of the
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0007|     bonds are appropriated to the local government division for the
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0008|     purpose of land acquisition, master planning, hydrology and
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0009|     design services and construction at Dennis Chavez park in the
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0010|     south Broadway neighborhood in Bernalillo county.  Any
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0011|     unexpended or unencumbered balance remaining at the end of
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0012|     fiscal year 2000 shall revert to the severance tax bonding
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0013|     fund.  If the local government division has not certified the
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0014|     need for the issuance of the bonds by the end of fiscal year
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0015|     1999, the authorization provided in this section shall be void.
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0016|          Section 2.  EMERGENCY.--It is necessary for the public
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0017|     peace, health and safety that this act take effect immediately.
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0018|                                                       FORTY-THIRD LEGISLATURE
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0019|                           FIRST SESSION
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0020|   
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0021|                                                  March 17, 1997
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0022|   
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0023|   SENATE FLOOR AMENDMENT number _______ to HOUSE BILL 838
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0024|   
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0025|   
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0001|   Amendment sponsored by Senator Ben D. Altamirano 
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0002|   
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0003|       1.  On page 1, line 11, strike "AN APPROPRIATION" and insert
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0004|   in lieu thereof "APPROPRIATIONS".
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0005|   
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0006|       2.  On page 1, line 12, before the semicolon insert "AND
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0007|   LEGISLATIVE RETIREMENT".
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0008|   
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0009|       3.  On page 2, between  lines 6 and 7, insert the following
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0010|   new section:
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0011|   
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0012|       "Section 2.  APPROPRIATION.--One hundred two thousand
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0013|   dollars ($102,000) is appropriated from the cash balances of the
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0014|   legislative council service from Subsection J of Section 2 of
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0015|   Chapter 1 of Laws 1995 to the legislative council service for
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0016|   expenditure in fiscal years 1997 and 1998 for the legislative
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0017|   match for legislative retirement required pursuant to <u>State of
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<u></u>0018| <u>  New Mexico, ex rel., Attorney General Tom Udall</u> v. <u>Public
</u>    |
<u></u>0019| <u>  Employees Retirement Board, et al</u>.  Any unexpended or
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0020|   unencumbered balance remaining at the end of fiscal year 1998
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0021|   shall not revert to the general fund.".
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0022|   
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0023|   
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0024|   
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0025|                                       __________________________
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0001|                                       Ben D. Altamirano
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0002|   
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0003|   
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0004|   
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0005|   Adopted ___________________   Not Adopted _______________________
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0006|            (Chief Clerk)                    (Chief Clerk)
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0007|   
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0008|   
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0009|                    Date _________________
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