0001| SENATE BILL 678 | 0002| 42ND LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION, | 0003| 1996 | 0004| INTRODUCED BY | 0005| STUART INGLE | 0006| | 0007| | 0008| | 0009| | 0010| | 0011| AN ACT | 0012| RELATING TO CAPITAL EXPENDITURES; AUTHORIZING THE ISSUANCE OF | 0013| SEVERANCE TAX BONDS FOR MULTIPLE PROJECTS IN ROOSEVELT COUNTY; | 0014| MAKING APPROPRIATIONS; DECLARING AN EMERGENCY. | 0015| | 0016| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: | 0017| Section 1. SEVERANCE TAX BONDS--AUTHORIZATIONS-- | 0018| APPROPRIATION OF PROCEEDS.-- | 0019| A. The state board of finance may issue and sell | 0020| severance tax bonds in compliance with the Severance Tax Bonding | 0021| Act in an amount not to exceed the total of the amounts | 0022| authorized for purposes specified in Sections 2 through 5 of | 0023| this act. The state board of finance shall schedule the | 0024| issuance and sale of the bonds in the most expeditious and | 0025| economical manner possible upon a finding by the board that the | 0001| project has been developed sufficiently to justify the issuance | 0002| and that the project can proceed to contract within a reasonable | 0003| time. The state board of finance shall further take the | 0004| appropriate steps necessary to comply with the Internal Revenue | 0005| Code of 1986, as amended. Proceeds from the sale of the bonds | 0006| are appropriated for the purposes specified in Sections 2 | 0007| through 5 of this act. | 0008| B. The agencies named in Sections 2 through 5 of | 0009| this act shall certify to the state board of finance when the | 0010| money from the proceeds of the severance tax bonds authorized in | 0011| this section is needed for the purposes specified in the | 0012| applicable section of this act. | 0013| C. If the specified agency has not certified the | 0014| need for the issuance of the bonds by the end of fiscal year | 0015| 1998, the authorization provided in this act shall be void. | 0016| D. Unless otherwise specified in this act, any | 0017| unexpended or unencumbered balance remaining from the proceeds | 0018| of severance tax bonds issued pursuant to Sections 2 through 5 | 0019| of this act at the end of fiscal year 1999 shall revert to the | 0020| severance tax bonding fund. | 0021| Section 2. SEVERANCE TAX BONDS--DEPARTMENT OF | 0022| ENVIRONMENT--PURPOSES.--Pursuant to the provisions of Section 1 | 0023| of this act, upon certification by the department of environment | 0024| that the need exists for the issuance of the bonds, the | 0025| following amounts are appropriated to the department of | 0001| environment for the following purposes: | 0002| A. three hundred thousand dollars ($300,000) to | 0003| replace sewer lines in the city of Portales in Roosevelt county; | 0004| B. twenty-five thousand dollars ($25,000) to drill | 0005| and install an upgradient monitor well at the wastewater | 0006| treatment plant to meet discharge plan requirements as specified | 0007| by the department of environment in Roosevelt county; | 0008| C. one hundred seventy-five thousand dollars | 0009| ($175,000) to drill and install two water wells in the | 0010| Blackwater well field to ensure adequate water supply for the | 0011| city of Portales in Roosevelt county; | 0012| D. three hundred thousand dollars ($300,000) to | 0013| connect the two new wells specified in Subsection C of this | 0014| section to the city water system, including well piping and | 0015| other construction costs in Roosevelt county; and | 0016| E. seventy thousand dollars ($70,000) to extend a | 0017| twelve-inch water line to a new industrial park for use by | 0018| industries nearby in Roosevelt county. | 0019| Section 3. SEVERANCE TAX BONDS--STATE HIGHWAY AND | 0020| TRANSPORTATION DEPARTMENT--PURPOSES.--Pursuant to the provisions | 0021| of Section 1 of this act, upon certification by the state | 0022| highway and transportation department that the need exists for | 0023| the issuance of the bonds, the following amounts are | 0024| appropriated to the state highway and transportation department | 0025| for the following purposes: | 0001| A. one hundred ninety-three thousand nine hundred | 0002| seventy-one dollars ($193,971) to make improvements to south | 0003| Avenue I from west Eighteenth street to Yucca drive in Roosevelt | 0004| county; | 0005| B. one hundred ninety-six thousand five hundred | 0006| forty dollars ($196,540) to make improvements to north Avenue O | 0007| from west Fir street to the Portales city limits in Roosevelt | 0008| county; and | 0009| C. five hundred twenty-six thousand two hundred | 0010| dollars ($526,200) for the acquisition and installation of a | 0011| signalized railroad crossing, including deceleration lanes, | 0012| intersection redesign, elevation change and drainage | 0013| accommodation in Roosevelt county. | 0014| Section 4. SEVERANCE TAX BONDS--STATE AGENCY ON AGING--PURPOSE.--Pursuant to the provisions of Section 1 of this act, | 0015| upon certification by the state agency on agency that the need | 0016| exists for the issuance of the bonds, twenty-five thousand | 0017| dollars ($25,000) is appropriated to the state agency on aging | 0018| for construction costs and to install a parking lot and provide | 0019| landscaping for a senior citizen center in Portales in Roosevelt | 0020| county. | 0021| Section 5. SEVERANCE TAX BONDS--DEPARTMENT OF FINANCE AND | 0022| ADMINISTRATION--PURPOSE.--Pursuant to the provisions of Section | 0023| 1 of this act, upon certification by the local government | 0024| division of the department of finance and administration that | 0025| the need exists for the issuance of the bonds, seventy-five | 0001| thousand dollars ($75,000) is appropriated to the local | 0002| government division of the department of finance and | 0003| administration for the purpose of acquiring land for use as a | 0004| library parking lot located in Roosevelt county. | 0005| Section 6. EMERGENCY.--It is necessary for the public | 0006| peace, health and safety that this act take effect immediately. | 0007|  | 0008| | 0009| | 0010| FORTY-SECOND LEGISLATURE | 0011| SECOND SESSION, 1996 | 0012| | 0013| | 0014| JANUARY 31, 1996 | 0015| | 0016| Mr. President: | 0017| | 0018| Your COMMITTEES' COMMITTEE, to whom has been referred | 0019| | 0020| SENATE BILL 678 | 0021| | 0022| has had it under consideration and finds same to be GERMANE, PURSUANT | 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| S0678CC1 |