0001|                         HOUSE BILL 552
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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|                        JERRY LEE ALWIN
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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 CERTAIN PROJECTS AT THE PENITENTIARY OF
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0014|     NEW MEXICO IN SANTA FE COUNTY AND AT THE CENTRAL NEW MEXICO
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0015|     CORRECTIONAL FACILITY IN VALENCIA COUNTY; REAUTHORIZING
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0016|     UNISSUED, UNEXPENDED OR UNENCUMBERED BALANCES TO EXPAND THE
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0017|     SOUTHERN NEW MEXICO CORRECTIONAL FACILITY IN DONA ANA COUNTY;
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0018|     MAKING APPROPRIATIONS; DECLARING AN EMERGENCY.
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0019|     
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0020|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0021|       Section 1.  SEVERANCE TAX BONDS--PURPOSE FOR WHICH ISSUED--APPROPRIATION OF PROCEEDS.--
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0022|            A.  The state board of finance may issue and sell
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0023|     severance tax bonds in compliance with the Severance Tax Bonding
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0024|     Act in an amount not exceeding seven million four hundred
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0025|     ninety-four thousand dollars ($7,494,000) when the property
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0001|     control division of the general services department certifies
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0002|     the need for the issuance of the bonds.  The state board of
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0003|     finance shall schedule the issuance and sale of the bonds in the
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0004|     most expeditious and economical manner possible upon a finding
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0005|     by the board that the project has been developed sufficiently to
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0006|     justify the issuance and that the project can proceed to
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0007|     contract within a reasonable time.  The state board of finance
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0008|     shall further take the appropriate steps necessary to comply
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0009|     with the Internal Revenue Code of 1986, as amended.  The
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0010|     proceeds from the sale of the bonds are appropriated to the
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0011|     property control division of the general services department in
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0012|     the following amounts for the following purposes:
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0013|                 (1)  four million nine hundred ninety-two
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0014|     thousand four hundred dollars ($4,992,400) to upgrade the
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0015|     support facilities at the penitentiary of New Mexico located in
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0016|     Santa Fe county; and
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0017|                 (2)  two million five hundred one thousand six
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0018|     hundred dollars ($2,501,600) to plan, design, construct or equip
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0019|     an infirmary at the central New Mexico correctional facility
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0020|     located in Valencia county.
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0021|            B.  If the property control division of the general
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0022|     services department has not certified the need for the issuance
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0023|     of the bonds by the end of fiscal year 1999, the authorization
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0024|     provided in this section shall be void.  Any unexpended or
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0025|     unencumbered balance remaining from the proceeds of severance
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0001|     tax bonds issued pursuant to Subsection A of this section at the
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0002|     end of fiscal year 2000 shall revert to the severance tax
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0003|     bonding fund. 
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0004|       Section 2.  SEVERANCE TAX BONDS--GENERAL SERVICES
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0005|     DEPARTMENT--CHANGE IN PURPOSE--APPROPRIATION.--The balance of
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0006|     the proceeds from severance tax bonds appropriated to the
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0007|     property control division of the general services department,
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0008|     pursuant to Subsection D of Section 9 of Chapter 222 of Laws
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0009|     1995, to install a fire protection system in the north and south
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0010|     facilities at the penitentiary of New Mexico, shall not be
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0011|     expended for its original purpose, but is reauthorized and
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0012|     appropriated to complete expansion, including paving, installing
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0013|     equipment, furnishing and making improvements at the southern
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0014|     New Mexico correctional facility located in Dona Ana county.
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0015|       Section 3.  EMERGENCY.--It is necessary for the public
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0016|     peace, health and safety that this act take effect immediately.
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