0001|                         HOUSE BILL 499
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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|                         JOSE R. ABEYTA
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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 FOR MORA COUNTY CAPITAL PROJECTS; MAKING
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0014|     APPROPRIATIONS; DECLARING AN EMERGENCY.
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0015|     
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0016|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0017|       Section 1.  SEVERANCE TAX BONDS--AUTHORIZATIONS--
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0018|     APPROPRIATION OF PROCEEDS.--
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0019|            A.  The state board of finance may issue and sell
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0020|     severance tax bonds in compliance with the Severance Tax Bonding
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0021|     Act in an amount not to exceed the total of the amounts
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0022|     authorized for purposes specified in Sections 2 and 3 of this
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0023|     act.  The state board of finance shall schedule the issuance and
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0024|     sale of the bonds in the most expeditious and economical manner
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0025|     possible upon a finding by the board that the project has been
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0001|     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.  Proceeds from the sale of the bonds are appropriated
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0006|     for the purposes specified in Sections 2 and 3 of this act.
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0007|            B.  The agencies named in Sections 2 and 3 of this
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0008|     act shall certify to the state board of finance when the money
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0009|     from the proceeds of the severance tax bonds authorized in this
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0010|     section is needed for the purposes specified in the applicable
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0011|     section of this act.
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0012|            C.  If the specified agency has not certified the
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0013|     need for the issuance of the bonds by the end of fiscal year
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0014|     1998, the authorization provided in this act shall be void.
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0015|            D.  Unless otherwise specified in this act, any
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0016|     unexpended or unencumbered balance remaining from the proceeds
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0017|     of severance tax bonds issued pursuant to Sections 2 and 3 of
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0018|     this act at the end of fiscal year 1999 shall revert to the
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0019|     severance tax bonding fund.
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0020|       Section 2.  SEVERANCE TAX BONDS--DEPARTMENT OF 
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0021|     ENVIRONMENT--PURPOSES.--Pursuant to the provisions of Section 1
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0022|     of this act, upon certification by the department of environment
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0023|     that the need exists for the issuance of the bonds, the
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0024|     following amounts are appropriated to the department of
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0025|     environment for the following purposes:
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0001|            A.  three hundred sixty-nine thousand dollars
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0002|     ($369,000) to design, construct and inspect water system
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0003|     improvements in the Mora valley in Mora county;
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0004|            B.  one hundred seventy-seven thousand two hundred
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0005|     eighty dollars ($177,280) to design, construct and inspect water
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0006|     system improvements in the village of Guadalupita in Mora
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0007|     county;
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0008|            C.  three hundred eighty-two thousand five hundred
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0009|     dollars ($382,500) to design, construct and inspect water system
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0010|     improvements in the community of Agua Negra in Mora county;
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0011|            D.  three hundred ten thousand dollars ($310,000) to
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0012|     design, construct and inspect water system improvements in the
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0013|     community of Buena Vista in Mora county;
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0014|            E.  one hundred eighty thousand six hundred thirty
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0015|     dollars ($180,630) to design, construct and inspect water system
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0016|     improvements in the community of upper Holman in Mora county;
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0017|     and
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0018|            F.  one hundred fifty thousand dollars ($150,000) to
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0019|     design, construct and inspect sewer and water system
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0020|     improvements in the village of Wagon Mound in Mora county.
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0021|       Section 3.  SEVERANCE TAX BONDS--DEPARTMENT OF FINANCE AND
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0022|     ADMINISTRATION--PURPOSE.--Pursuant to the provisions of Section
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0023|     1 of this act, upon certification by the local government
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0024|     division of the department of finance and administration that
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0025|     the need exists for the issuance of the bonds, fifty thousand
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0001|     dollars ($50,000) is appropriated to the local government
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0002|     division of the department of finance and administration for the
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0003|     purpose of designing, renovating and making improvements to the
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0004|     Wagon Mound municipal building to comply with requirements of
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0005|     the federal Americans with Disabilities Act of 1990 located in
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0006|     Mora county.
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0007|       Section 4.  EMERGENCY.--It is necessary for the public
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0008|     peace, health and safety that this act take effect immediately.
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0009|                              
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