0001| SENATE BILL 1
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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| JOSEPH A. FIDEL
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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; REAUTHORIZING UNEXPENDED OR UNENCUMBERED
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0013| BALANCES; CHANGING THE PURPOSES OF CERTAIN BOND AUTHORIZATIONS;
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0014| EXTENDING EXPENDITURE PERIODS; MAKING APPROPRIATIONS; DECLARING
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0015| AN EMERGENCY.
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0016|
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0017| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0018| Section 1. SEVERANCE TAX BONDS--AUTHORIZATIONS--
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0019| APPROPRIATION OF PROCEEDS.--
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0020| A. The state board of finance may issue and sell
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0021| severance tax bonds in compliance with the Severance Tax
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0022| Bonding Act in an amount not to exceed the total of the amounts
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0023| authorized for purposes specified in this act. The state board
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0024| of finance shall schedule the issuance and sale of the bonds in
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0025| the most expeditious and economical manner possible upon a
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0001| finding by the board that the project has been developed
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0002| sufficiently to justify the issuance and that the project can
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0003| proceed to contract within a reasonable time. The state board
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0004| of finance shall further take the appropriate steps necessary
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0005| to comply with the Internal Revenue Code of 1986, as amended.
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0006| Proceeds from the sale of the bonds are appropriated for the
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0007| purposes specified in this act.
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0008| B. The agencies named in this act shall certify to
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0009| the state board of finance when the money from the proceeds of
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0010| the severance tax bonds authorized in this section is needed
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0011| for the purposes specified in the applicable section of this
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0012| 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 this act at the end
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0019| of fiscal year 2002 shall revert to the severance tax bonding
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0020| fund.
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0021| Section 2. SEVERANCE TAX BONDS--OFFICE OF CULTURAL
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0022| AFFAIRS--PURPOSE.--Pursuant to the provisions of Section 1 of
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0023| this act, upon certification by the office of cultural affairs
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0024| that the need exists for the issuance of the bonds, one
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0025| million dollars ($1,000,000) is appropriated to the office of
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0001| cultural affairs to renovate or make improvements to state
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0002| museums and facilities located throughout the state to comply
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0003| with the Americans with Disabilities Act of 1990.
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0004| Section 3. SEVERANCE TAX BONDS--SUPREME COURT BUILDING
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0005| COMMISSION--PURPOSE. -Pursuant to the provisions of Section 1
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0006| of this act, upon certification by the supreme court building
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0007| commission that the need exists for the issuance of the bonds,
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0008| six hundred thousand dollars ($600,000) is appropriated to the
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0009| supreme court building commission to plan, design and make
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0010| improvements to the supreme court building in Santa Fe county
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0011| to comply with the Americans with Disabilities Act of 1990.
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0012| Section 4. SEVERANCE TAX BONDS--PUBLIC SCHOOL CAPITAL
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0013| OUTLAY COUNCIL--PURPOSE.--Pursuant to the provisions of
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0014| Section 1 of this act, upon certification by the public school
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0015| capital outlay council that the need exists for the issuance
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0016| of the bonds, five million dollars ($5,000,000) is
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0017| appropriated to the public school capital outlay fund to carry
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0018| out the provisions of the Public School Capital Outlay Act.
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0019| Section 5. GENERAL FUND--EDUCATIONAL TECHNOLOGY FUND--
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0020| PURPOSE.--Six hundred thousand dollars ($600,000) is
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0021| appropriated from the general fund to the educational
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0022| technology fund for expenditure in fiscal year 1998 and
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0023| subsequent fiscal years for the purpose of implementing the
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0024| provisions of the Technology for Education Act. Any
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0025| unexpended or unencumbered balance remaining at the end of any
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0001| fiscal year shall not revert to the general fund.
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0002| Section 6. REAUTHORIZATION -GENERAL SERVICES DEPARTMENT--
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0003| EXTENDING EXPENDITURE PERIOD--CHANGE IN PURPOSE.--
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0004| Notwithstanding the provisions of Subsection D of Section 1 of
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0005| Chapter 148 of Laws 1994, the balance of the proceeds from the
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0006| sale of severance tax bonds appropriated to the general
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0007| services department pursuant to Subsection C of Section 13 of
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0008| Chapter 148 of Laws 1994 to plan and design a facility to
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0009| replace Meadows hospital in Las Vegas located in San Miguel
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0010| county shall not be expended for its original purpose but is
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0011| reauthorized and appropriated to the property control division
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0012| of the general services department to plan, design, renovate
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0013| and make improvements to state buildings located throughout the
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0014| state. The period of time in which this appropriation may be
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0015| expended is extended through fiscal year 2002. Any unexpended
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0016| or unencumbered balance remaining from the proceeds of the
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0017| bonds at the end of fiscal year 2002 shall revert to the
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0018| severance tax bonding fund.
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0019| Section 7. PROJECT SCOPE--EXPENDITURES.--If an
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0020| appropriation for a project authorized in this act is not
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0021| sufficient to complete all the purposes specified, the
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0022| appropriation may be expended for any portion of the purposes
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0023| specified in the appropriation. Expenditures shall not be made
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0024| for purposes other than those specified in the appropriation.
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0025| Section 8. ART IN PUBLIC PLACES.--Pursuant to Section
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0001| 13-4A-4 NMSA 1978 and where applicable, the appropriations
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0002| authorized in this act include one percent for the art in
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0003| public places fund.
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0004| Section 9. EMERGENCY.--It is necessary for the public
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0005| peace, health and safety that this act take effect immediately.
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0006|
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