0001| HOUSE BILL 413 | 0002| 42ND LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION, | 0003| 1996 | 0004| INTRODUCED BY | 0005| DONALD L. WHITAKER | 0006| | 0007| | 0008| | 0009| | 0010| | 0011| AN ACT | 0012| RELATING TO CAPITAL EXPENDITURES; AUTHORIZING THE ISSUANCE OF | 0013| SEVERANCE TAX BONDS FOR CAPITAL PROJECTS IN HOUSE DISTRICT 61 IN | 0014| LEA COUNTY; MAKING APPROPRIATIONS; DECLARING AN EMERGENCY. | 0015| | 0016| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: | 0017| Section 1. SEVERANCE TAX BONDS--AUTHORIZATIONS-- | 0018| 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 to exceed the total of the amounts | 0022| authorized for purposes specified in Sections 2 through 4 of | 0023| this act. The state board of finance shall schedule the | 0024| issuance and sale of the bonds in the most expeditious and | 0025| economical manner possible upon a finding by the board that the | 0001| project has been developed sufficiently to justify the issuance | 0002| and that the project can proceed to contract within a reasonable | 0003| time. The state board of finance shall further take the | 0004| appropriate steps necessary to comply with the Internal Revenue | 0005| Code of 1986, as amended. Proceeds from the sale of the bonds | 0006| are appropriated for the purposes specified in Sections 2 | 0007| through 4 of this act. | 0008| B. The agencies named in Sections 2 through 4 of | 0009| this act shall certify to the state board of finance when the | 0010| money from the proceeds of the severance tax bonds authorized in | 0011| this section is needed for the purposes specified in the | 0012| applicable section of this act. | 0013| C. If the specified agency has not certified the | 0014| need for the issuance of the bonds by the end of fiscal year | 0015| 1998, the authorization provided in this act shall be void. | 0016| D. Unless otherwise specified in this act, any | 0017| unexpended or unencumbered balance remaining from the proceeds | 0018| of severance tax bonds issued pursuant to Sections 2 through 4 | 0019| of this act at the end of fiscal year 1999 shall revert to the | 0020| severance tax bonding fund. | 0021| Section 2. SEVERANCE TAX BONDS--DEPARTMENT OF FINANCE AND | 0022| ADMINISTRATION--PURPOSES.--Pursuant to the provisions of Section | 0023| 1 of this act, upon certification by the local government | 0024| division of the department of finance and administration that | 0025| the need exists for the issuance of the bonds, the following | 0001| amounts are appropriated to the local government division of the | 0002| department of finance and administration for the following | 0003| purposes: | 0004| A. two hundred thousand dollars ($200,000), | 0005| contingent upon one hundred thousand dollars ($100,000) in local | 0006| matching funds, for the purpose of remodeling the existing | 0007| municipal court building to provide an expanded law enforcement | 0008| center in the city of Eunice in Lea county; | 0009| B. twenty thousand dollars ($20,000), contingent | 0010| upon ten thousand dollars ($10,000) in local matching funds, for | 0011| the purpose of making improvements and purchasing equipment for | 0012| the park in the city of Eunice in Lea county; | 0013| C. twenty-three thousand three hundred dollars | 0014| ($23,300) to purchase two auto-defibrillator units for | 0015| ambulances in the city of Jal in Lea county; | 0016| D. fifteen thousand dollars ($15,000) to make | 0017| improvements to the Jal cemetery in Lea county; | 0018| E. four hundred thirty-six thousand six hundred | 0019| sixteen dollars ($436,616) for the purpose of renovating or | 0020| constructing an addition to the Jal hospital building or | 0021| acquiring another building for a hospital in the city of Jal in | 0022| Lea county; | 0023| F. twenty-one thousand dollars ($21,000) to purchase | 0024| a pickup truck to be used for public works purposes for the city | 0025| of Jal in Lea county; | 0001| G. four thousand one hundred ninety-five dollars | 0002| ($4,195) to purchase an onboard video camera for use by | 0003| municipal patrol officers in the city of Jal in Lea county; and | 0004| H. fourteen thousand five hundred dollars ($14,500) | 0005| for removal of a water tank tower in the city of Jal in Lea | 0006| county. | 0007| Section 3. SEVERANCE TAX BONDS-STATE HIGHWAY AND | 0008| TRANSPORTATION DEPARTMENT--PURPOSES.--Pursuant to the provisions | 0009| of Section 1 of this act, upon certification by the state | 0010| highway and transportation department that the need exists for | 0011| the issuance of the bonds, the following amounts are | 0012| appropriated to the state highway and transportation department | 0013| for the following purposes: | 0014| A. two hundred thousand dollars ($200,000) for | 0015| street improvements in the city of Jal in Lea county; | 0016| B. seventy thousand dollars ($70,000), contingent | 0017| upon twenty-three thousand two hundred dollars ($23,200) in | 0018| local matching funds, for the purpose of making north Eunice | 0019| addition street improvements in the city of Eunice in Lea | 0020| county; and | 0021| C. two hundred thousand dollars ($200,000) for | 0022| residential street improvements in the city of Hobbs in Lea | 0023| county. | 0024| Section 4. EMERGENCY.--It is necessary for the public | 0025| peace, health and safety that this act take effect immediately. | 0001|  |