SB0295

SENATE BILL 295

50th legislature - STATE OF NEW MEXICO - second session, 2012

INTRODUCED BY

John Arthur Smith

AN ACT

RELATING TO PUBLIC EXPENDITURES; REDUCING THE AUTHORIZATION FOR STATE TRANSPORTATION PROJECT BONDS; LIMITING THE ISSUANCE OF FUTURE BONDS; EXCLUDING PORTIONS OF CERTAIN TRANSPORTATION PROJECTS FROM THE AUTHORIZATION TO USE THE NET PROCEEDS OF STATE TRANSPORTATION PROJECT BONDS; DECLARING AN EMERGENCY.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

SECTION 1. Section 67-3-59.4 NMSA 1978 (being Laws 2003 (1st S.S.), Chapter 3, Section 26) is amended to read:

"67-3-59.4. STATE TRANSPORTATION PROJECT BONDS--AUTHORIZATION AND APPROPRIATION--PRIORITIES--CRITERIA--REPORTS.--

A. Subject to the limitation of Subsection F of this section, it is the intent of the legislature to authorize the New Mexico finance authority to issue state transportation bonds for projects specified in Laws 2003 (1st S.S.), Chapter 3, Sections 27 and 28 [of this 2003 act] in the total aggregate principal amount of [one billion five hundred eighty-five million dollars ($1,585,000,000)] one billion three hundred fifty million four hundred thousand dollars ($1,350,400,000) in annual increments of no more than three hundred fifty million dollars ($350,000,000) beginning with the appropriation for 2003 provided for in Subsection B of this section.

B. After [the effective date of this act] February 3, 2004, the state [transporation] transportation commission may authorize the New Mexico finance authority to issue and sell state transportation bonds. The proceeds of the bonds are appropriated to the department of transportation for projects listed in Laws 2003 (1st S.S.), Chapter 3, Sections 27 and 28 [of this 2003 act].

C. The department of transportation shall provide to the legislature and the governor a report on transportation priorities and progress. The report shall include:

(1) justification of priority ranking of projects, including the following for each highway project enumerated in Laws 2003 (1st S.S.), Chapter 3, Sections 27 and 28 [of this 2003 act]:

(a) traffic counts and accident rates and the expected improvements to traffic flow, health and safety;

(b) the ranking of the pavement and substructure conditions;

(d) other information deemed significant by the department;

(2) the expected life of the proposed improvement;

(3) sufficiency of revenue to pay the principal and interest of all outstanding and proposed bonds based on a five- and twenty-year financial forecast for the state road fund and the effect of the bond program on the department's construction and maintenance program;

(4) status report of ongoing major construction;

(5) the relationship between the requested projects and the statewide transportation improvement program; and

(6) any other information requested by the legislature or the executive.

D. The department of transportation shall provide quarterly progress reports to the department of finance and administration and the legislative finance committee.

E. The department of transportation shall adopt and enforce rules with the goal that no less than seventy percent of the work force of an exclusively state-funded project authorized in Laws 2003 (1st S.S.), Chapter 3, Sections 27 and 28 [of this 2003 act] shall be residents of New Mexico.

F. Except for bonds necessary to make payments on existing debt obligations, after the effective date of this 2012 act, no additional bonds shall be issued pursuant to this section and Section 67-3-59.3 NMSA 1978."

SECTION 2. Laws 2003 (1st S.S.), Chapter 3, Section 27 is amended to read:

"Section 27. AUTHORIZED TRANSPORTATION PROJECTS.--

A. The department of transportation may use the net proceeds of state transportation project bonds issued by the New Mexico finance authority pursuant to Section 67-3-59.3 NMSA 1978 and Section [26 of this 2003 act] 67-3-59.4 NMSA 1978 for the following transportation projects:

(1) for the reconstruction of the interchange at the intersection of Coors boulevard and interstate 40 in Albuquerque for which the department of transportation may use a design and build delivery system, notwithstanding the provisions of Subsection A of Section 13-1-119.1 NMSA 1978;

(2) for the reconstruction and improvement of the interstate 25 corridor from Belen to Santa Fe to accommodate public transportation elements including commuter rail;

(3) for the reconstruction and improvement of United States highway 54 from Tularosa to Santa Rosa, but excluding the following portions as identified by description and department of transportation GRIP control number:

(a) milepost 119 to milepost 130, GRIP control number G3a22;

(b) milepost 130 to milepost 146, GRIP control number G3a32; and

(4) for the reconstruction and improvement of United States highway 64/87 from Raton to Clayton;

(5) for the reconstruction and improvement of United States highway 491 from Tohatchi to Shiprock, but excluding the following portions as identified by description and department of transportation GRIP control number:

(a) new bridge construction, GRIP control number G5a56;

(b) milepost 20 to milepost 31, GRIP control number G5b16;

(d) milepost 37 to milepost 45, GRIP control number G5b36;

(6) for the reconstruction and improvement of United States highway 491 from Shiprock to the Colorado state line, but excluding the portion from milepost 94.2 to milepost 107/bridge rehabilitation identified by department of transportation GRIP control number G6005;

(7) for the reconstruction and improvement of United States highway 62/180 from the Texas state line to Carlsbad;

(8) for the reconstruction and improvement of various sections of interstate 40 from Newkirk to Tucumcari;

(9) for the reconstruction and improvement of various sections of interstate 40 between Gallup and the Arizona state line;

(10) for the reconstruction and improvement of various sections of interstate 40 between Thoreau and Grants;

(11) for the reconstruction and improvement of interstate 40 in Albuquerque from Carlisle boulevard to Juan Tabo boulevard;

(12) for the reconstruction and improvement of interstate 40 east of Albuquerque from Carnuel to Sedillo;

(13) for the reconstruction and improvement of interstate 40 in Albuquerque from Central avenue to Coors boulevard;

(14) for the reconstruction and improvement of interstate 40 at various locations from the Pueblo of Laguna to Mesita;

(15) for the reconstruction and improvement of interstate 40 from Canoncito to Rio Puerco;

(16) for the reconstruction and improvement of interstate 40 in Moriarty from the west interchange to the east interchange;

(17) for the reconstruction and improvement of interstate 10 from Lordsburg to the junction of state highway 146;

(18) for the reconstruction and improvement to accommodate public transportation elements of interstate 10 from the Texas state line to Las Cruces, but excluding the Vado and Mesquite interchange, milepost 143.844 to milepost 150.5, identified by department of transportation GRIP control number G18a4;

(19) for the reconstruction and improvement of United States highway 84/285 from Pojoaque to Espanola;

(20) for the reconstruction and improvement of state highway 45 in Albuquerque from the junction above interstate 25 north to Central avenue, but excluding the following portions as identified by description and department of transportation GRIP control number:

(a) milepost 3 to milepost 8, GRIP control number G2023; and

(b) milepost 8 to milepost 13, GRIP control number G2033;

(21) for the reconstruction and improvement of state highway 128 from state highway 31 to the Texas state line;

(22) for the reconstruction and improvement of state highway 11 from Columbus to Deming;

(23) for the reconstruction and improvement of United States highway 60 from Abo to Willard;

(24) for the reconstruction and improvement of United States highway 56 from Springer east to Abbott, but excluding the portion from milepost 0 to milepost 5 identified by department of transportation GRIP control number G2414;

(25) for the reconstruction and improvement of United States highway 380 west of Tatum east to the Texas state line;

(26) for the reconstruction and improvement of various sections of United States highway 380 from Capitan to Hondo, but excluding the portion from milepost 85 to milepost 92 identified by department of transportation GRIP control number G2612;

(27) for the reconstruction and improvement of various sections of United States highway 64 from the San Juan-Rio Arriba county line to the junction of United States highway 84, but excluding the following portions as identified by description and department of transportation GRIP control number:

(a) milepost 87 to milepost 107, GRIP control number G2715;

(b) milepost 114.7 to milepost 120, GRIP control number G2725; and

(28) for the reconstruction and improvement of state highway 8 from Eunice to United States highway 62, but excluding the portion identified by department of transportation GRIP control number G2802;

(29) for the reconstruction and improvement of United States highway 285 from Encino to Clines Corners;

(30) for the reconstruction and improvement of various sections of United States highway 84 from interstate 25 south to Dilia;

(31) for the reconstruction and improvement of various sections of state highway 26 between Deming and Hatch;

(32) for the reconstruction and improvement of state highway 83 from Lovington to the junction of state highway 132;

(33) for the reconstruction and improvement of state highway 209 from NM 268 to Grady;

(34) for the reconstruction and improvement of United States highway 84 from Fort Sumner to Santa Rosa;

(35) for the reconstruction and improvement of various sections of United States highway 62/180 from the Texas state line to the Lea-Eddy county line;

(36) for the reconstruction and improvement of United States highway 285 from Clines Corners to Lamy; (37) for the reconstruction and improvement of United States highway 180 from Deming to Bayard, but excluding the following portions as identified by description and department of transportation GRIP control number:

(a) milepost 122 to milepost 142.6, GRIP control number G3711; and

(b) milepost 142.6 to milepost 160, GRIP control number G3721; and

(38) for improvements to the physical facilities of the department of transportation.

B. The New Mexico finance authority may issue and sell state transportation project bonds for the state transportation projects authorized in this section when directed by the state transportation commission and when the commission certifies a need for issuance of the bonds for the projects.

C. Any unexpended or unencumbered balance after the completion of the projects authorized in this section shall revert to the state road fund.

D. For purposes of this section, "construction", "reconstruction", "rehabilitation" and "improvement" include planning, designing, engineering, constructing and acquiring rights of way."

SECTION 3. EMERGENCY.--It is necessary for the public peace, health and safety that this act take effect immediately.

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