0001| A JOINT RESOLUTION | 0002| PROPOSING AN AMENDMENT TO ARTICLE 9, SECTION 10 OF THE CONSTITUTION OF | 0003| NEW MEXICO TO AUTHORIZE COUNTIES TO BORROW MONEY TO ACQUIRE REAL ESTATE | 0004| FOR OPEN SPACE AND OPEN SPACE-RELATED USES AND TO PURCHASE CAPITAL | 0005| EQUIPMENT FOR ROAD AND BRIDGE CONSTRUCTION AND REPAIR. | 0006| | 0007| BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: | 0008| Section 1. It is proposed to amend Article 9, Section 10 of the | 0009| constitution of New Mexico to read: | 0010| "No county shall borrow money except for the following purposes: | 0011| A. erecting, remodeling and making additions to necessary | 0012| public buildings; | 0013| B. constructing or repairing public roads and bridges and | 0014| purchasing capital equipment for such projects; | 0015| C. constructing or acquiring a system for supplying water, | 0016| including the acquisition of water and water rights, necessary real | 0017| estate or rights-of-way and easements; | 0018| D. constructing or acquiring a sewer system, including the | 0019| necessary real estate or rights-of-way and easements; | 0020| E. constructing an airport or sanitary landfill, including | 0021| the necessary real estate; | 0022| F. acquiring necessary real estate for open space, open | 0023| space trails and related areas and facilities; or | 0024| G. the purchase of books and other library resources for | 0025| libraries in the county. | 0001| In such cases, indebtedness shall be incurred only after the | 0002| proposition to create such debt has been submitted to the registered | 0003| voters of the county and approved by a majority of those voting thereon. | 0004| No bonds issued for such purpose shall run for more than fifty years. | 0005| Provided, however, that no money derived from general obligation bonds | 0006| issued and sold hereunder shall be used for maintaining existing | 0007| buildings and, if so, such bonds shall be invalid." | 0008| Section 2. The amendment proposed by this resolution shall be | 0009| submitted to the people for their approval or rejection at the next | 0010| general election or at any special election prior to that date which may | 0011| be called for that purpose. |