0001|                         HOUSE BILL 180
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0002|     42ND LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION,
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0003|     1996
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0004|                         INTRODUCED BY
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0005|                          MURRAY RYAN
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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|     
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0011|                             AN ACT
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0012|     RELATING TO CAPITAL EXPENDITURES; AUTHORIZING THE ISSUANCE OF
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0013|     SEVERANCE TAX BONDS TO RENOVATE THE FORT BAYARD MEDICAL CENTER
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0014|     LOCATED IN GRANT COUNTY; MAKING AN APPROPRIATION; DECLARING AN
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0015|     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--PURPOSE FOR WHICH ISSUED--APPROPRIATION OF PROCEEDS.--The state board of finance may issue
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0019|     and sell severance tax bonds in compliance with the Severance
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0020|     Tax Bonding Act in an amount not exceeding one million dollars
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0021|     ($1,000,000) when the property control division of the general
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0022|     services department certifies the need for the issuance of the
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0023|     bonds.  The state board of finance shall schedule the issuance
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0024|     and sale of the bonds in the most expeditious and economical
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0025|     manner possible upon a finding by the board that the project has
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0001|     been developed sufficiently to justify the issuance and that the
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0002|     project can proceed to contract within a reasonable time.  The
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0003|     state board of finance shall further take the appropriate steps
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0004|     necessary to comply with the Internal Revenue Code of 1986, as
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0005|     amended.  The proceeds from the sale of the bonds are
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0006|     appropriated to the property control division of the general
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0007|     services department for the purpose of completing renovations to
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0008|     comply with licensing regulations, life safety codes and the
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0009|     federal Americans with Disabilities Act of 1990 at the Fort
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0010|     Bayard medical center located in Grant county.  Any unexpended
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0011|     or unencumbered balance remaining at the end of fiscal year 2000
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0012|     shall revert to the severance tax bonding fund.  If the property
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0013|     control division of the general services department has not
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0014|     certified the need for the issuance of the bonds by the end of
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0015|     fiscal year 1999, the authorization provided in this section
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0016|     shall be void.
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0017|       Section 2.  EMERGENCY.--It is necessary for the public
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0018|     peace, health and safety that this act take effect immediately.
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0019|                              
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0020|     
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0021|                               
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