0001| HOUSE BILL 142 | 0002| 42ND LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION, | 0003| 1996 | 0004| INTRODUCED BY | 0005| JOSE R. ABEYTA | 0006| | 0007| | 0008| | 0009| | 0010| | 0011| AN ACT | 0012| RELATING TO CAPITAL EXPENDITURES; AUTHORIZING THE ISSUANCE OF | 0013| SEVERANCE TAX BONDS FOR VARIOUS RENOVATION PROJECTS IN THE RATON | 0014| PUBLIC SCHOOLS IN COLFAX COUNTY; MAKING AN APPROPRIATION; | 0015| DECLARING AN EMERGENCY. | 0016| | 0017| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: | 0018| Section 1. SEVERANCE TAX BONDS--PURPOSE FOR WHICH ISSUED--APPROPRIATION OF PROCEEDS.-- | 0019| A. The state board of finance may issue and sell | 0020| severance tax bonds in compliance with the Severance Tax Bonding | 0021| Act in an amount not exceeding five million six thousand two | 0022| hundred dollars ($5,006,200) when the state department of public | 0023| education certifies the need for the issuance of the bonds. The | 0024| state board of finance shall schedule the issuance and sale of | 0025| the bonds in the most expeditious and economical manner possible | 0001| upon a finding by the board that the project has been developed | 0002| sufficiently to justify the issuance and that the project can | 0003| proceed to contract within a reasonable time. The state board | 0004| of finance shall further take the appropriate steps necessary to | 0005| comply with the Internal Revenue Code of 1986, as amended. The | 0006| proceeds from the sale of the bonds are appropriated to the | 0007| state department of public education for use in various building | 0008| projects of the Raton independent school district in Colfax | 0009| county in the following amounts for the following purposes: | 0010| (1) six hundred eighty-two thousand four | 0011| hundred thirty-two dollars ($682,432) to repair, renovate and | 0012| make improvements to various buildings' mechanical operations | 0013| and equipment; | 0014| (2) eight hundred six thousand nine hundred | 0015| seventy dollars ($806,970) to repair, renovate and improve the | 0016| various buildings' electrical operations and equipment; | 0017| (3) three hundred seventeen thousand two | 0018| hundred ninety dollars ($317,290) to repair, renovate, redesign | 0019| and improve ceilings and lighting of various school buildings; | 0020| (4) one million eight hundred fifty-five | 0021| thousand four hundred fifty dollars ($1,855,450) for structural | 0022| renovation and reroofing and for remodeling necessary for | 0023| compliance with the federal Americans with Disabilities Act of | 0024| 1990 in various school buildings; and | 0025| (5) one million three hundred forty-four | 0001| thousand dollars ($1,344,000) to plan, design, construct, | 0002| furnish or equip, including site improvements, various school | 0003| buildings for additional classroom and laboratory space. | 0004| B. If the state department of public education has | 0005| not certified the need for the issuance of the bonds by the end | 0006| of fiscal year 1998, the authorization provided in this section | 0007| shall be void. Any unexpended or unencumbered balance remaining | 0008| from the proceeds of severance tax bonds issued pursuant to | 0009| Subsection A of this section at the end of fiscal year 1999 | 0010| shall revert to the severance tax bonding fund. | 0011| Section 2. EMERGENCY.--It is necessary for the public | 0012| peace, health and safety that this act take effect immediately. | 0013|  | 0014| |