0001|                        SENATE BILL 225
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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|                     ELIZABETH T. STEFANICS
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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 PURCHASE OF SCHOOL BUSES FOR TESUQUE
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0014|     PUEBLO SCHOOL; MAKING A GENERAL FUND APPROPRIATION FOR
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0015|     TRANSPORTATION OPERATION EXPENSES; MAKING APPROPRIATIONS;
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0016|     DECLARING AN EMERGENCY.
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0017|     
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0018|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0019|       Section 1.  SEVERANCE TAX BONDS--PURPOSE FOR WHICH ISSUED--APPROPRIATION OF PROCEEDS.--The state board of finance may issue
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0020|     and sell severance tax bonds in compliance with the Severance
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0021|     Tax Bonding Act in an amount not exceeding eighty-four thousand
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0022|     dollars ($84,000) when the state department of public education
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0023|     certifies the need for the issuance of the bonds.  The state
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0024|     board of finance shall schedule the issuance and sale of the
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0025|     bonds in the most expeditious and economical manner possible
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0001|     upon a finding by the board that the project has been developed
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0002|     sufficiently to justify the issuance and that the project can
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0003|     proceed to contract within a reasonable time.  The state board
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0004|     of finance shall further take the appropriate steps necessary to
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0005|     comply with the Internal Revenue Code of 1986, as amended.  The
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0006|     proceeds from the sale of the bonds are appropriated to the
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0007|     state department of public education for the purpose of
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0008|     purchasing two school buses for the Tesuque Pueblo school
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0009|     located in Santa Fe county.  Any unexpended or unencumbered
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0010|     balance remaining at the end of fiscal year 1999 shall revert to
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0011|     the severance tax bonding fund.  If the state department of
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0012|     public education has not certified the need for the issuance of
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0013|     the bonds by the end of fiscal year 1998, the authorization
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0014|     provided in this section shall be void.
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0015|       Section 2.  APPROPRIATION.--Six thousand dollars ($6,000)
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0016|     is appropriated from the general fund to the state department of
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0017|     public education for expenditure in fiscal year 1997 for the
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0018|     purpose of providing maintenance support and funding insurance
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0019|     coverage necessary for school bus transportation at the Tesuque
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0020|     Pueblo school in Santa Fe county.  Any unexpended or
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0021|     unencumbered balance remaining at the end of fiscal year 1997
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0022|     shall revert to the general fund.
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0023|       Section 3.  EMERGENCY.--It is necessary for the public
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0024|     peace, health and safety that this act take effect immediately.
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0025|                                    
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0001|   
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0002|                    FORTY-SECOND LEGISLATURE
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0003|                      SECOND SESSION, 1996
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0004|   
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0005|   
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0006|                                              JANUARY 24, 1996
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0007|   
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0008|   Mr. President:
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0009|   
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0010|     Your COMMITTEES' COMMITTEE, to whom has been referred
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0011|   
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0012|                           SENATE BILL 225
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0013|   
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0014|   has had it under consideration and finds same to be GERMANE, PURSUANT
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0015|   TO CONSTITUTIONAL PROVISIONS, and thence referred to the INDIAN AND
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0016|   CULTIRAL AFFAIRS COMMITTEE.
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0017|   
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0018|                              Respectfully submitted,
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0019|   
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0020|   
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0021|   
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0022|   
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0023|                              __________________________________
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0024|                              SENATOR MANNY M. ARAGON, Chairman 
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0025|   
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0001|   
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0002|   
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0003|   Adopted_______________________ Not Adopted_______________________
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0004|             (Chief Clerk)                        (Chief Clerk)
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0005|   
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0006|   
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0007|                     Date ________________________
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0008|   
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0009|   
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0010|   
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0011|     S0225CC1
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0012|   
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0013|                      FORTY-SECOND LEGISLATURE
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0014|                        SECOND SESSION, 1996
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0015|   
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0016|   
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0017|                                                   January 30, 1996
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0018|   
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0019|   Mr. President:
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0020|   
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0021|     Your SENATE INDIAN & CULTURAL AFFAIRS COMMITTEE, to
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0022|   whom has been referred
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0023|   
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0024|                           SENATE BILL 225
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0025|   
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0001|   has had it under consideration and reports same with recommendation that
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0002|   it DO PASS, and thence referred to the FINANCE COMMITTEE.
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0003|   
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0004|                              Respectfully submitted,
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0005|   
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0006|   
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0007|   
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0008|                              __________________________________
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0009|                              John Pinto, Chairman 
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0010|   
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0011|   
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0012|   
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0013|   Adopted_______________________ Not Adopted_______________________
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0014|             (Chief Clerk)                          (Chief Clerk)
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0015|   
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0016|   
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0017|   
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0018|                     Date ________________________
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0019|   
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0020|   
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0021|   The roll call vote was <u> 8 </u> For <u> 0 </u> Against
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0022|   Yes:  8
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0023|   No:        0
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0024|   Excused:   None
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0025|   Absent:    None
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0001|   
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0002|   
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0003|   SO225IC1
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0004|   
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