0001|                        SENATE BILL 749
    |
0002|     42ND LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION,
    |
0003|     1996
    |
0004|                         INTRODUCED BY
    |
0005|                           JOHN PINTO
    |
0006|     
    |
0007|                                
    |
0008|     
    |
0009|     
    |
0010|     
    |
0011|                             AN ACT
    |
0012|     RELATING TO CAPITAL EXPENDITURES; AUTHORIZING THE ISSUANCE OF
    |
0013|     SEVERANCE TAX BONDS FOR RIGHT-OF-WAY ACQUISITION AND
    |
0014|     ARCHAEOLOGICAL AND ENVIRONMENTAL ASSESSMENTS FOR THE TOHLAKAI
    |
0015|     LOOP ROAD IN MCKINLEY COUNTY; MAKING AN APPROPRIATION; DECLARING
    |
0016|     AN EMERGENCY.
    |
0017|     
    |
0018|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
    |
0019|       Section 1.  SEVERANCE TAX BONDS--PURPOSE FOR WHICH ISSUED--APPROPRIATION OF PROCEEDS.--The state board of finance may issue
    |
0020|     and sell severance tax bonds in compliance with the Severance
    |
0021|     Tax Bonding Act in an amount not exceeding two hundred fifty
    |
0022|     thousand dollars ($250,000) when the state highway and
    |
0023|     transportation department certifies the need for the issuance of
    |
0024|     the bonds.  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.  The proceeds from the sale of the
    |
0007|     bonds are appropriated to the state highway and transportation
    |
0008|     department for the purpose of acquiring rights of way and
    |
0009|     conducting the archaeological and environmental assessments
    |
0010|     necessary for the construction of the Tohlakai loop, also known
    |
0011|     as Johnson's road, for approximately eight miles located in
    |
0012|     McKinley county.  Any unexpended or unencumbered balance
    |
0013|     remaining at the end of fiscal year 1999 shall revert to the
    |
0014|     severance tax bonding fund.  If the state highway and
    |
0015|     transportation department has not certified the need for the
    |
0016|     issuance of the bonds by the end of fiscal year 1998, the
    |
0017|     authorization provided in this section shall be void.
    |
0018|       Section 2.  EMERGENCY.--It is necessary for the public
    |
0019|     peace, health and safety that this act take effect immediately.
    |
0020|                                      
    |
0021|   
    |
0022|                    FORTY-SECOND LEGISLATURE
    |
0023|                      SECOND SESSION, 1996
    |
0024|   
    |
0025|   
    |
0001|                                              JANUARY 31, 1996
    |
0002|   
    |
0003|   Mr. President:
    |
0004|   
    |
0005|     Your COMMITTEES' COMMITTEE, to whom has been referred
    |
0006|   
    |
0007|                           SENATE BILL 749
    |
0008|   
    |
0009|   has had it under consideration and finds same to be GERMANE, PURSUANT
    |
0010|   TO CONSTITUTIONAL PROVISIONS, and thence referred to the INDIAN AND
    |
0011|   CULTURAL AFFAIRS COMMITTEE.
    |
0012|   
    |
0013|                              Respectfully submitted,
    |
0014|   
    |
0015|   
    |
0016|   
    |
0017|   
    |
0018|                              __________________________________
    |
0019|                              SENATOR MANNY M. ARAGON, Chairman 
    |
0020|   
    |
0021|   
    |
0022|   
    |
0023|   Adopted_______________________ Not Adopted_______________________
    |
0024|             (Chief Clerk)                        (Chief Clerk)
    |
0025|   
    |
0001|   
    |
0002|                     Date ________________________
    |
0003|   
    |
0004|   
    |
0005|   
    |
0006|     S0749CC1
    |
0007|   
    |
0008|                      FORTY-SECOND LEGISLATURE
    |
0009|                        SECOND SESSION, 1996
    |
0010|   
    |
0011|   
    |
0012|                                                   February 4, 1996
    |
0013|   
    |
0014|   Mr. President:
    |
0015|   
    |
0016|     Your INDIAN & CULTURAL AFFAIRS COMMITTEE, to whom has
    |
0017|   been referred
    |
0018|   
    |
0019|                           SENATE BILL 749
    |
0020|   
    |
0021|   has had it under consideration and reports same with recommendation that
    |
0022|   it DO PASS, and thence referred to the FINANCE COMMITTEE.
    |
0023|   
    |
0024|                              Respectfully submitted,
    |
0025|   
    |
0001|   
    |
0002|   
    |
0003|                              __________________________________
    |
0004|                              John Pinto, Chairman 
    |
0005|   
    |
0006|   
    |
0007|   
    |
0008|   Adopted_______________________ Not Adopted_______________________
    |
0009|             (Chief Clerk)                          (Chief Clerk)
    |
0010|   
    |
0011|   
    |
0012|                     Date ________________________
    |
0013|   
    |
0014|   
    |
0015|   The roll call vote was <u> 7 </u> For <u> 0 </u> Against
    |
0016|   Yes:  7
    |
0017|   No:        0
    |
0018|   Excused:   Maes
    |
0019|   Absent:    None
    |
0020|   
    |
0021|   
    |
0022|   S0749IC1
    |
0023|   
    |
0024|   
    |