0001|                        SENATE BILL 390
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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|                        NANCY RODRIGUEZ
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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 TO MAKE BUILDING IMPROVEMENTS AT THE NEW
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0014|     MEXICO SCHOOL FOR THE DEAF IN SANTA FE COUNTY; MAKING AN
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0015|     APPROPRIATION; DECLARING AN EMERGENCY.
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0016|     
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0017|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0018|       Section 1.  SEVERANCE TAX BONDS--PURPOSE FOR WHICH ISSUED--APPROPRIATION OF PROCEEDS.--The state board of finance may issue
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0019|     and sell severance tax bonds in compliance with the Severance
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0020|     Tax Bonding Act in an amount not exceeding seven hundred twenty-nine thousand dollars ($729,000) when the local government
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0021|     division of the department of finance and administration
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0022|     certifies the need for the issuance of the bonds.  The state
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0023|     board of finance shall schedule the issuance and sale of the
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0024|     bonds in the most expeditious and economical manner possible
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0025|     upon a finding by the board that the project has been developed
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0001|     sufficiently to justify the issuance and that the project can
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0002|     proceed to contract within a reasonable time.  The state board
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0003|     of finance shall further take the appropriate steps necessary to
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0004|     comply with the Internal Revenue Code of 1986, as amended.  The
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0005|     proceeds from the sale of the bonds are appropriated to the
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0006|     local government division of the department of finance and
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0007|     administration for the purpose of making building improvements
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0008|     to the New Mexico school for the deaf, including the
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0009|     installation of health and safety devices to comply with the
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0010|     federal Americans with Disabilities Act of 1990, and
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0011|     improvements to the gymnasium, located in Santa Fe county.  Any
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0012|     unexpended or unencumbered balance remaining at the end of
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0013|     fiscal year 1999 shall revert to the severance tax bonding fund. 
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0014|     If the local government division of the department of finance
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0015|     and administration has not certified the need for the issuance
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0016|     of the bonds by the end of fiscal year 1998, the authorization
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0017|     provided in this section shall be void.
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0018|       Section 2.  EMERGENCY.--It is necessary for the public
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0019|     peace, health and safety that this act take effect immediately.
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0020|                              
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0021|             
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0022|   
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0023|                    FORTY-SECOND LEGISLATURE
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0024|                      SECOND SESSION, 1996
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0025|   
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0001|   
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0002|                                              JANUARY 29, 1996
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0003|   
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0004|   Mr. President:
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0005|   
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0006|     Your COMMITTEES' COMMITTEE, to whom has been referred
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0007|   
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0008|                           SENATE BILL 390
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0009|   
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0010|   has had it under consideration and finds same to be GERMANE, PURSUANT
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0011|   TO CONSTITUTIONAL PROVISIONS, and thence referred to the 
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0012|   CORPORATIONS AND TRANSPORTATION COMMITTEE.
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0013|   
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0014|                              Respectfully submitted,
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0015|   
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0016|   
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0017|   
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0018|   
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0019|                              __________________________________
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0020|                              SENATOR MANNY M. ARAGON, Chairman 
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0021|   
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0022|   
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0023|   
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0024|   Adopted_______________________ Not Adopted_______________________
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0025|             (Chief Clerk)                        (Chief Clerk)
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0001|   
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0002|   
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0003|                     Date ________________________
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0004|   
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0005|   
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0006|   
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0007|     S0390CC1
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0008|   
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0009|                      FORTY-SECOND LEGISLATURE
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0010|                        SECOND SESSION, 1996
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0011|   
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0012|   
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0013|                                                   February 2, 1996
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0014|   
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0015|   Mr. President:
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0016|   
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0017|     Your CORPORATIONS & TRANSPORTATION COMMITTEE, to whom
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0018|   has been referred
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0019|   
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0020|                           SENATE BILL 390
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0021|   
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0022|   has had it under consideration and reports same with recommendation that
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0023|   it DO PASS, and thence referred to the FINANCE COMMITTEE.
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0024|   
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0025|                              Respectfully submitted,
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0001|   
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0002|   
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0003|   
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0004|                              __________________________________
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0005|                              Roman M. Maes, III, Chairman 
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0006|   
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0007|   
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0008|   
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0009|   Adopted_______________________ Not Adopted_______________________
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0010|             (Chief Clerk)                          (Chief Clerk)
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0011|   
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0012|   
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0013|                     Date ________________________
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0014|   
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0015|   
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0016|   The roll call vote was <u> 5 </u> For <u> 0 </u> Against
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0017|   Yes:  5
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0018|   No:        0
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0019|   Excused:   Fidel, McKibben, Reagan, Robinson
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0020|   Absent:    None
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0021|   
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0022|   
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0023|   S0390CT1
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0024|   
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0025|   
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