0001| SENATE BILL 276 | 0002| 42ND LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION, | 0003| 1996 | 0004| INTRODUCED BY | 0005| TOM C. WRAY | 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 SENATE DISTRICT 21 | 0014| IN THE CITY OF ALBUQUERQUE LOCATED IN BERNALILLO COUNTY; MAKING | 0015| APPROPRIATIONS; DECLARING AN EMERGENCY. | 0016| | 0017| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: | 0018| Section 1. SEVERANCE TAX BONDS--AUTHORIZATIONS-- | 0019| APPROPRIATION OF PROCEEDS.-- | 0020| A. The state board of finance may issue and sell | 0021| severance tax bonds in compliance with the Severance Tax Bonding | 0022| Act in an amount not to exceed the total of the amounts | 0023| authorized for purposes specified in Sections 2 through 4 of | 0024| this act. The state board of finance shall schedule the | 0025| issuance and sale of the bonds in the most expeditious and | 0001| economical manner possible upon a finding by the board that the | 0002| project has been developed sufficiently to justify the issuance | 0003| and that the project can proceed to contract within a reasonable | 0004| time. The state board of finance shall further take the | 0005| appropriate steps necessary to comply with the Internal Revenue | 0006| Code of 1986, as amended. Proceeds from the sale of the bonds | 0007| are appropriated for the purposes specified in Sections 2 | 0008| through 4 of this act. | 0009| B. The agencies named in Sections 2 through 4 of | 0010| this act shall certify to the state board of finance when the | 0011| money from the proceeds of the severance tax bonds authorized in | 0012| this section is needed for the purposes specified in the | 0013| applicable section of this act. | 0014| C. If the specified agency has not certified the | 0015| need for the issuance of the bonds by the end of fiscal year | 0016| 1998, the authorization provided in this act shall be void. | 0017| D. Unless otherwise specified in this act, any | 0018| unexpended or unencumbered balance remaining from the proceeds | 0019| of severance tax bonds issued pursuant to Sections 2 through 4 | 0020| of this act at the end of fiscal year 1999 shall revert to the | 0021| severance tax bonding fund. | 0022| Section 2. SEVERANCE TAX BONDS--STATE DEPARTMENT OF PUBLIC | 0023| EDUCATION--PURPOSES.--Pursuant to the provisions of Section 1 of | 0024| this act, upon certification by the state department of public | 0025| education that the need exists for the issuance of the bonds, | 0001| the following amounts are appropriated to the state department | 0002| of public education for the following purposes: | 0003| A. one hundred thousand dollars ($100,000) to fund | 0004| phase III of the computer program at Eisenhower middle school in | 0005| the city of Albuquerque located in Bernalillo county; and | 0006| B. one hundred fifty thousand dollars ($150,000) to | 0007| make improvements to the Arroyo del Oso elementary school soccer | 0008| field in the city of Albuquerque located in Bernalillo county. | 0009| Section 3. SEVERANCE TAX BONDS--DEPARTMENT OF PUBLIC | 0010| SAFETY--PURPOSE.--Pursuant to the provisions of Section 1 of | 0011| this act, upon certification by the department of public safety | 0012| that the need exists for the issuance of the bonds, two hundred | 0013| twenty thousand dollars ($220,000) is appropriated to the | 0014| department of public safety to continue construction and | 0015| equipping of the county sheriff's command center in the | 0016| northeast heights of Albuquerque in Bernalillo county. | 0017| Section 4. SEVERANCE TAX BONDS--DEPARTMENT OF FINANCE AND | 0018| ADMINISTRATION--PURPOSES.--Pursuant to the provisions of Section | 0019| 1 of this act, upon certification by the local government | 0020| division of the department of finance and administration that | 0021| the need exists for the issuance of the bonds, the following | 0022| amounts are appropriated to the local government division of the | 0023| department of finance and administration for the following | 0024| purposes: | 0025| A. two hundred thousand dollars ($200,000) to make | 0001| improvements to Roadrunner little league park in the city of | 0002| Albuquerque located in Bernalillo county; and | 0003| B. fifty thousand dollars ($50,000) to design and | 0004| plan the Arroyo del Oso park in the city of Albuquerque located | 0005| in Bernalillo county. | 0006| Section 5. EMERGENCY.--It is necessary for the public | 0007| peace, health and safety that this act take effect immediately. | 0008|  | 0009| | 0010| FORTY-SECOND LEGISLATURE | 0011| SECOND SESSION, 1996 | 0012| | 0013| | 0014| JANUARY 26, 1996 | 0015| | 0016| Mr. President: | 0017| | 0018| Your COMMITTEES' COMMITTEE, to whom has been referred | 0019| | 0020| SENATE BILL 276 | 0021| | 0022| has had it under consideration and finds same to be GERMANE, PURSUNAT | 0023| TO CONSTITUTIONAL PROVISIONS, and thence referred to the FINANCE | 0024| COMMITTEE. | 0025| | 0001| Respectfully submitted, | 0002| | 0003| | 0004| | 0005| | 0006| __________________________________ | 0007| SENATOR MANNY M. ARAGON, Chairman | 0008| | 0009| | 0010| | 0011| Adopted_______________________ Not Adopted_______________________ | 0012| (Chief Clerk) (Chief Clerk) | 0013| | 0014| | 0015| Date ________________________ | 0016| | 0017| | 0018| | 0019| S0276CC1 |