0001| HOUSE BILL 66 | 0002| 42ND LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION, | 0003| 1996 | 0004| INTRODUCED BY | 0005| DANICE R. PICRAUX | 0006| | 0007| | 0008| | 0009| | 0010| | 0011| AN ACT | 0012| RELATING TO CAPITAL EXPENDITURES; AUTHORIZING THE ISSUANCE OF | 0013| SEVERANCE TAX BONDS TO PLAN, DESIGN AND CONSTRUCT AN ALL-PURPOSE | 0014| OVERNIGHT FAMILY VISITATION CENTER AT THE NEW MEXICO WOMEN'S | 0015| CORRECTIONAL FACILITY IN GRANTS LOCATED IN CIBOLA COUNTY; MAKING | 0016| AN APPROPRIATION; DECLARING AN EMERGENCY. | 0017| | 0018| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: | 0019| Section 1. SEVERANCE TAX BONDS--PURPOSE FOR WHICH ISSUED--APPROPRIATION OF PROCEEDS.--The state board of finance may issue | 0020| and sell severance tax bonds in compliance with the Severance | 0021| Tax Bonding Act in an amount not exceeding fifty thousand | 0022| dollars ($50,000) when the corrections department certifies the | 0023| need for the issuance of the bonds. The state board of finance | 0024| shall schedule the issuance and sale of the bonds in the most | 0025| expeditious and economical manner possible upon a finding by the | 0001| board that the project has been developed sufficiently to | 0002| justify the issuance and that the project can proceed to | 0003| contract within a reasonable time. The state board of finance | 0004| shall further take the appropriate steps necessary to comply | 0005| with the Internal Revenue Code of 1986, as amended. The | 0006| proceeds from the sale of the bonds are appropriated to the | 0007| corrections department for the purpose of planning, designing | 0008| and constructing an all-purpose overnight family visitation | 0009| center for children and their inmate mothers at the New Mexico | 0010| women's correctional facility in Grants located in Cibola | 0011| county. Any unexpended or unencumbered balance remaining from | 0012| the proceeds from the bonds at the end of fiscal year 1999 shall | 0013| revert to the severance tax bonding fund. If the corrections | 0014| department has not certified the need for the issuance of the | 0015| bonds by the end of fiscal year 1998, the authorization provided | 0016| in this section shall be void. | 0017| Section 2. EMERGENCY.--It is necessary for the public | 0018| peace, health and safety that this act take effect immediately. | 0019|  | 0020| |