0001|                            HOUSE BILL 281
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0002|     43RD LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION, 1998
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0003|                            INTRODUCED BY
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0004|                          RAYMOND G. SANCHEZ
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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 INFRASTRUCTURE RENOVATION AND OTHER
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0013|     CAPITAL IMPROVEMENTS ON THE CAMPUSES OF STATE EDUCATIONAL
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0014|     INSTITUTIONS; MAKING APPROPRIATIONS; DECLARING AN 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--AUTHORIZATIONS--
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0018|     APPROPRIATION OF PROCEEDS.--
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0019|               A.  The state board of finance may issue and sell
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0020|     severance tax bonds in compliance with the Severance Tax
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0021|     Bonding Act in an amount not to exceed the total of the
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0022|     amounts authorized for purposes specified in Sections 2
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0023|     through 14 of this act.  The state board of finance shall
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0024|     schedule the issuance and sale of the bonds in the most
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0025|     expeditious and economical manner possible upon a finding by
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0001|     the board that the project has been developed sufficiently to
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0002|     justify the issuance and that the project can proceed to
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0003|     contract within a reasonable time.  The state board of finance
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0004|     shall further take the appropriate steps necessary to comply
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0005|     with the Internal Revenue Code of 1986, as amended.  Proceeds
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0006|     from the sale of the bonds are appropriated for the purposes
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0007|     specified in Sections 2 through 14 of this act.
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0008|               B.  The agencies named in Sections 2 through 14 of
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0009|     this act shall certify to the state board of finance when the
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0010|     money from the proceeds of the severance tax bonds authorized
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0011|     in this section is needed for the purposes specified in the
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0012|     applicable section of this act.
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0013|               C.  If the specified agency 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|     2000, the authorization provided in this act shall be void.
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0016|               D.  Unless otherwise specified in this act, any
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0017|     unexpended or unencumbered balance remaining from the proceeds
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0018|     of severance tax bonds issued pursuant to Sections 2 through
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0019|     14 of this act at the end of fiscal year 2001 shall revert to
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0020|     the severance tax bonding fund.
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0021|          Section 2.  SEVERANCE TAX BONDS--BOARD OF REGENTS OF THE
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0022|     UNIVERSITY OF NEW MEXICO--PURPOSE.--Pursuant to the provisions
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0023|     of Section 1 of this act, upon certification by the board of
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0024|     regents of the university of New Mexico that the need exists
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0025|     for the issuance of the bonds, four million fifty thousand
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0001|     dollars ($4,050,000) is appropriated to the board of regents
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0002|     of the university of New Mexico for the purpose of funding
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0003|     utility distribution system expansion, a domestic water
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0004|     system, access roads and street repairs on the main campus of
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0005|     the university of New Mexico located in Bernalillo county.
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0006|          Section 3.  SEVERANCE TAX BONDS--BOARD OF REGENTS OF
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0007|     EASTERN NEW MEXICO UNIVERSITY--PURPOSE.--Pursuant to the
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0008|     provisions of Section 1 of this act, upon certification by the
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0009|     board of regents of eastern New Mexico university that the
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0010|     need exists for the issuance of the bonds, one million seven
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0011|     hundred fifty-two thousand dollars ($1,752,000) is
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0012|     appropriated to the board of regents of eastern New Mexico
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0013|     university for the purpose of funding infrastructure renewal
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0014|     and information systems infrastructure at the main and branch
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0015|     campuses of eastern New Mexico university.
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0016|          Section 4.  SEVERANCE TAX BONDS--BOARD OF REGENTS OF NEW
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0017|     MEXICO HIGHLANDS UNIVERSITY--PURPOSE.--Pursuant to the
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0018|     provisions of Section 1 of this act, upon certification by the
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0019|     board of regents of New Mexico highlands university that the
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0020|     need exists for the issuance of the bonds, one million two
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0021|     hundred forty-seven thousand dollars ($1,247,000) is
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0022|     appropriated to the board of regents of New Mexico highlands
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0023|     university for the purpose of funding infrastructure
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0024|     improvements and information systems infrastructure on the
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0025|     campus of New Mexico highlands university located in San
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0001|     Miguel county.
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0002|          Section 5.  SEVERANCE TAX BONDS--BOARD OF REGENTS OF THE
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0003|     NEW MEXICO INSTITUTE OF MINING AND TECHNOLOGY--PURPOSE.--
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0004|     Pursuant to the provisions of Section 1 of this act, upon
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0005|     certification by the board of regents of the New Mexico
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0006|     institute of mining and technology that the need exists for
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0007|     the issuance of the bonds, one million one hundred ninety-
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0008|     seven thousand dollars ($1,197,000) is appropriated to the
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0009|     board of regents of the New Mexico institute of mining and
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0010|     technology for the purpose of funding infrastructure
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0011|     renovation and expansion and information systems
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0012|     infrastructure on the campus of the New Mexico institute of
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0013|     mining and technology located in Socorro county.
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0014|          Section 6.  SEVERANCE TAX BONDS--BOARD OF REGENTS OF NEW
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0015|     MEXICO STATE UNIVERSITY--PURPOSES.--Pursuant to the provisions
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0016|     of Section 1 of this act, upon certification by the board of
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0017|     regents of New Mexico state university that the need exists
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0018|     for the issuance of the bonds, the following amounts are
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0019|     appropriated to the board of regents of New Mexico state
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0020|     university for the following purposes:
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0021|               A.  one million four hundred thousand dollars
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0022|     ($1,400,000) for the purpose of funding the upgrade and
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0023|     expansion of campus utility infrastructure on the main campus
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0024|     of New Mexico state university located in Dona Ana county;
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0025|               B.  one hundred fifty thousand dollars ($150,000)
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0001|     for the purpose of funding infrastructure renewal on the
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0002|     Alamogordo campus of New Mexico state university located in
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0003|     Otero county; 
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0004|               C.  one hundred twelve thousand five hundred
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0005|     dollars ($112,500) for the purpose of funding infrastructure
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0006|     renewal on the Dona Ana campus of New Mexico state university
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0007|     located in Dona Ana county;
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0008|               D.  two hundred fifty thousand dollars ($250,000)
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0009|     for the purpose of funding infrastructure renewal on the
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0010|     Carlsbad campus of New Mexico state university located in Eddy
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0011|     county; and
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0012|               E.  two hundred fifty thousand dollars ($250,000)
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0013|     for the purpose of funding infrastructure renewal on the
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0014|     Grants campus of New Mexico state university located in Cibola
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0015|     county.
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0016|          Section 7.  SEVERANCE TAX BONDS--BOARD OF REGENTS OF
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0017|     WESTERN NEW MEXICO UNIVERSITY--PURPOSE.--Pursuant to the
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0018|     provisions of Section 1 of this act, upon certification by the
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0019|     board of regents of western New Mexico university that the
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0020|     need exists for the issuance of the bonds, one million two
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0021|     hundred forty-seven thousand dollars ($1,247,000) is
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0022|     appropriated to the board of regents of western New Mexico
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0023|     university for the purpose of funding infrastructure
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0024|     renovation and expansion and information systems
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0025|     infrastructure on the western New Mexico university campus
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0001|     located in Grant county.
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0002|          Section 8.  SEVERANCE TAX BONDS--BOARD OF REGENTS OF
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0003|     NORTHERN NEW MEXICO STATE SCHOOL--PURPOSES.--Pursuant to the
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0004|     provisions of Section 1 of this act, upon certification by the
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0005|     board of regents of northern New Mexico state school that the
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0006|     need exists for the issuance of the bonds, the following
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0007|     amounts are appropriated to the board of regents of northern
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0008|     New Mexico state school for the following purposes:
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0009|               A.  four hundred fifty thousand dollars ($450,000)
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0010|     for the purpose of funding site drainage improvements on the
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0011|     Espanola campus of northern New Mexico state school located in
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0012|     Rio Arriba county; and
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0013|               B.  two hundred twenty thousand dollars ($220,000)
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0014|     for the purpose of funding phase II infrastructure for sewer
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0015|     and water improvements on the El Rito campus of northern New
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0016|     Mexico state school located in Rio Arriba county.
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0017|          Section 9.  SEVERANCE TAX BONDS--COMMUNITY COLLEGE BOARD
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0018|     OF CLOVIS COMMUNITY COLLEGE--PURPOSE.--Pursuant to the
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0019|     provisions of Section 1 of this act, upon certification by the
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0020|     community college board of Clovis community college that the
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0021|     need exists for the issuance of the bonds, six hundred sixty-
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0022|     three thousand seven hundred fifty dollars ($663,750) is
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0023|     appropriated to the community college board of Clovis
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0024|     community college for the purpose of funding infrastructure
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0025|     renovation, access roads and parking lots on the Clovis
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0001|     community college campus located in Curry county.  
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0002|          Section 10.  SEVERANCE TAX BONDS--GOVERNING BOARD OF NEW
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0003|     MEXICO JUNIOR COLLEGE--PURPOSE.--Pursuant to the provisions of
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0004|     Section 1 of this act, upon certification by the governing
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0005|     board of New Mexico junior college that the need exists for
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0006|     the issuance of the bonds, four hundred thousand dollars
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0007|     ($400,000) is appropriated to the governing board of New
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0008|     Mexico junior college for the purpose of funding
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0009|     infrastructure improvements on the campus of New Mexico junior
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0010|     college located in Lea county.  
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0011|          Section 11.  SEVERANCE TAX BONDS--GOVERNING BOARD OF SAN
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0012|     JUAN COLLEGE--PURPOSE.--Pursuant to the provisions of Section
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0013|     1 of this act, upon certification by the governing board of
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0014|     San Juan college that the need exists for the issuance of the
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0015|     bonds, six hundred fifty thousand dollars ($650,000) is
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0016|     appropriated to the governing board of San Juan college for
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0017|     the purpose of funding mechanical system upgrades on the
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0018|     campus of San Juan college located in San Juan county.
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0019|          Section 12.  SEVERANCE TAX BONDS--BOARD OF REGENTS OF NEW
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0020|     MEXICO MILITARY INSTITUTE--PURPOSE.--Pursuant to the
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0021|     provisions of Section 1 of this at, upon certification by the
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0022|     board of regents of New Mexico military institute that the
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0023|     need exists for the issuance of the bonds, one million one
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0024|     hundred seventy-seven thousand dollars ($1,177,000) is
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0025|     appropriated to the board of regents of New Mexico military
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0001|     institute for the purpose of funding general sewer and water
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0002|     improvements on the campus of New Mexico military institute
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0003|     located in Chaves county.
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0004|          Section 13.  SEVERANCE TAX BONDS--BOARD OF REGENTS OF NEW
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0005|     MEXICO SCHOOL FOR THE DEAF--PURPOSE.--Pursuant to the
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0006|     provisions of Section 1 of this act, upon certification by the
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0007|     board of regents of New Mexico school for the deaf that the
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0008|     need exists for the issuance of the bonds, seven hundred fifty
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0009|     thousand dollars ($750,000) is appropriated to the board of
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0010|     regents of New Mexico school for the deaf for the purpose of
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0011|     funding infrastructure improvements on the campus of New
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0012|     Mexico school for the deaf located in Santa Fe county.
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0013|          Section 14.  SEVERANCE TAX BONDS--GOVERNING BOARD OF LUNA
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0014|     VOCATIONAL-TECHNICAL INSTITUTE--PURPOSE.--Pursuant to the
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0015|     provisions of Section 1 of this act, upon certification by the
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0016|     governing board of Luna vocational-technical institute that
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0017|     the need exists for the issuance of the bonds, seven hundred
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0018|     fifty thousand dollars ($750,000) is appropriated to the
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0019|     governing board of Luna vocational-technical institute for the
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0020|     purpose of funding general improvements on the campus of Luna
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0021|     vocational-technical institute located in San Miguel county.
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0022|          Section 15.  EMERGENCY.--It is necessary for the public
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0023|     peace, health and safety that this act take effect
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0024|     immediately.
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0025|                              
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