0001| SENATE BILL 942 | 0002| 43rd legislature - STATE OF NEW MEXICO - first session, 1997 | 0003| INTRODUCED BY | 0004| GLORIA HOWES | 0005| | 0006| | 0007| | 0008| | 0009| | 0010| AN ACT | 0011| RELATING TO CAPITAL EXPENDITURES; AUTHORIZING THE ISSUANCE OF | 0012| SEVERANCE TAX BONDS FOR PLAYGROUND AND RECREATIONAL EQUIPMENT | 0013| FOR HEAD START CENTERS IN MCKINLEY AND SAN JUAN COUNTIES; | 0014| MAKING AN APPROPRIATION; DECLARING AN EMERGENCY. | 0015| | 0016| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: | 0017| Section 1. SEVERANCE TAX BONDS--PURPOSES FOR WHICH | 0018| ISSUED--APPROPRIATION OF PROCEEDS.-- | 0019| A. The state board of finance may issue and sell | 0020| severance tax bonds in compliance with the Severance Tax | 0021| Bonding Act in an amount not exceeding one hundred twenty-five | 0022| thousand dollars ($125,000) when the New Mexico office of | 0023| Indian affairs certifies the need for the issuance of the | 0024| bonds. The state board of finance shall schedule the issuance | 0025| and sale of the bonds in the most expeditious and economical | 0001| manner possible upon a finding by the board that the project | 0002| has been developed sufficiently to justify the issuance and | 0003| that the project can proceed to contract within a reasonable | 0004| time. The state board of finance shall further take the | 0005| appropriate steps necessary to comply with the Internal Revenue | 0006| Code of 1986, as amended. The proceeds from the sale of the | 0007| bonds are appropriated to the New Mexico office of Indian | 0008| affairs in the following amounts for the following purposes: | 0009| (1) fifteen thousand dollars ($15,000) for | 0010| playground and recreational equipment for the head start center | 0011| at Red Lake chapter in McKinley county; | 0012| (2) twenty thousand dollars ($20,000) for | 0013| playground and recreational equipment for the head start center | 0014| at Coal Mine in McKinley county; | 0015| (3) twenty thousand dollars ($20,000) for | 0016| playground and recreational equipment for the head start center | 0017| at Mexican Springs chapter in McKinley county; | 0018| (4) fifteen thousand dollars ($15,000) for | 0019| playground and recreational equipment for the head start center | 0020| at Twin Lakes chapter in McKinley county; | 0021| (5) twenty-five thousand dollars ($25,000) for | 0022| playground and recreational equipment for the head start center | 0023| at Rock Springs chapter in McKinley county; | 0024| (6) fifteen thousand dollars ($15,000) for | 0025| playground and recreational equipment for the head start center | 0001| at Tohatchi chapter in McKinley county; and | 0002| (7) fifteen thousand dollars ($15,000) for | 0003| playground and recreational equipment for the head start center | 0004| at Crystal chapter in San Juan county. | 0005| B. If the New Mexico office of Indian affairs has | 0006| not certified the need for the issuance of the bonds by the end | 0007| of fiscal year 1999, the authorization provided in this section | 0008| shall be void. Any unexpended or unencumbered balance | 0009| remaining from the proceeds of severance tax bonds issued | 0010| pursuant to Subsection A of this section at the end of fiscal | 0011| year 2000 shall revert to the severance tax bonding fund. | 0012| Section 2. EMERGENCY.--It is necessary for the public | 0013| peace, health and safety that this act take effect immediately. | 0014|  |