0001|                           SENATE BILL 171
    |
0002|     43RD LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION, 1998
    |
0003|                            INTRODUCED BY
    |
0004|                          LEONARD LEE RAWSON
    |
0005|     
    |
0006|                                   
    |
0007|     
    |
0008|                                   
    |
0009|     
    |
0010|                                AN ACT
    |
0011|     RELATING TO FINANCE; CREATING THE GENERAL SERVICES AVIATION
    |
0012|     EQUIPMENT PROJECT FUND IN ORDER TO SEGREGATE FUNDS TO BE USED
    |
0013|     TO REPAY A LOAN OR LOANS TO PURCHASE A RESEARCH AIRPLANE AND
    |
0014|     RELATED EQUIPMENT; DECLARING AN EMERGENCY.
    |
0015|     
    |
0016|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
    |
0017|          Section 1.  GENERAL SERVICES AVIATION EQUIPMENT PROJECT
    |
0018|     FUND--PURPOSE--ADMINISTRATION.--
    |
0019|               A.  The "general services aviation equipment
    |
0020|     project fund" is created in the state treasury.  The fund
    |
0021|     shall be administered by the general services department and
    |
0022|     shall consist solely of money received by the general services
    |
0023|     department pursuant to a lease agreement between the general
    |
0024|     services department and the physical sciences laboratory of
    |
0025|     New Mexico state university.  No money derived from property
    |
<center>- 1 -</center>

0001|     taxes, state general fund revenues or general appropriations
    |
0002|     shall be deposited in the fund.  Money in the fund shall not
    |
0003|     revert to the general fund at the end of a fiscal year.
    |
0004|               B.  Money in the general services aviation
    |
0005|     equipment project fund is appropriated for expenditure by the
    |
0006|     general services department for the purpose of repaying a loan
    |
0007|     or loans to purchase a research airplane and related
    |
0008|     equipment.
    |
0009|               C.  The general services department is authorized
    |
0010|     to enter into loan agreements and loans payable from the
    |
0011|     general services aviation equipment project fund with the
    |
0012|     physical sciences laboratory of New Mexico state university
    |
0013|     and with the New Mexico finance authority on such terms and
    |
0014|     conditions deemed necessary or desirable by the general
    |
0015|     services department.
    |
0016|               D.  Money in the general services aviation
    |
0017|     equipment project fund shall be expended only on warrants
    |
0018|     drawn by the secretary of finance and administration pursuant
    |
0019|     to vouchers signed by the secretary of general services or his
    |
0020|     authorized representative.
    |
0021|               E.  The legislature shall not repeal, amend or
    |
0022|     otherwise modify any law that affects or impairs the deposit
    |
0023|     in the general services aviation equipment project fund until
    |
0024|     all loans payable from the fund are fully paid and discharged
    |
0025|     or provisions have been made for their full payment and
    |
<center>- 2 -</center>

0001|     discharge.
    |
0002|          Section 2.  EMERGENCY.--It is necessary for the public
    |
0003|     peace, health and safety that this act take effect
    |
0004|     immediately.
    |
0005|                              
    |