0001|                        SENATE BILL 837
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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|                           TOM C. WRAY
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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 THE PUBLIC PEACE, HEALTH, SAFETY AND WELFARE.
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0013|     
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0014|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0015|         .110993.1    
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0016|   
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0017|                    FORTY-SECOND LEGISLATURE
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0018|                      SECOND SESSION, 1996
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0019|   
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0020|   
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0021|                                              February 7, 1996
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0022|   
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0023|   Mr. President:
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0024|   
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0025|     Your CONSERVATION COMMITTEE, to whom has been referred
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0001|   
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0002|                        SENATE BILL 837
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0003|   
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0004|   has had it under consideration and reports same with
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0005|   recommendation that it DO NOT PASS, but that
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0006|   
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0007|              SENATE CONSERVATION COMMITTEE SUBSTITUTE FOR
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0008|                          SENATE BILL 837
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0009| 
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0010|   DO PASS, and further recommends that it be referred to the
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0011|   COMMITTEES' COMMITTEE, thence to the FINANCE COMMITTEE.
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0012|   
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0013|                              Respectfully submitted,
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0014|   
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0015|   
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0016|   
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0017|                              __________________________________
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0018|                              TOM R. BENAVIDES, Chairman 
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0019|   
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0020|   
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0021|   Adopted_______________________ Not Adopted_______________________
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0022|             (Chief Clerk)                          (Chief Clerk)
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0023|   
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0024|                     Date ________________________
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0025|   
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0001|   
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0002|   The roll call vote was <u> 6 </u> For <u> 0 </u> Against
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0003|   Yes:  6
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0004|   No:        0
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0005|   Excused:   Lyons, Rutherford, Vernon
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0006|   Absent:    0
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0007|   
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0008|     S0837CO1        SENATE CONSERVATION COMMITTEE SUBSTITUTE FOR
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0009|                        SENATE BILL 837
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0010|     42nd legislature - STATE OF NEW MEXICO - second session, 1996
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0011|                                
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0012|     
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0013|     
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0014|     
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0015|     
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0016|     
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0017|     
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0018|                             AN ACT
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0019|     RELATING TO THE PUBLIC PEACE, HEALTH, SAFETY AND WELFARE;
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0020|     AUTHORIZING THE ISSUANCE OF SEVERANCE TAX BONDS FOR THE
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0021|     ACQUISITION OF LAND IN NORTHEASTERN BERNALILLO COUNTY TO
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0022|     ESTABLISH A PUBLIC PARK; MAKING AN APPROPRIATION; DECLARING AN
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0023|     EMERGENCY.
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0024|     
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0025|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0001|       Section 1.  SEVERANCE TAX BONDS--PURPOSE FOR WHICH ISSUED--APPROPRIATION OF PROCEEDS.--The state board of finance may issue
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0002|     and sell severance tax bonds in compliance with the Severance
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0003|     Tax Bonding Act in an amount not exceeding two hundred thousand
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0004|     dollars ($200,000) when the local government division of the
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0005|     department of finance and administration certifies the need for
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0006|     the issuance of the bonds.  The state board of finance shall
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0007|     schedule the issuance and sale of the bonds in the most
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0008|     expeditious and economical manner possible upon a finding by the
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0009|     board that the project has been developed sufficiently to
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0010|     justify the issuance and that the project can proceed to
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0011|     contract within a reasonable time.  The state board of finance
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0012|     shall further take the appropriate steps necessary to comply
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0013|     with the Internal Revenue Code of 1986, as amended.  The
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0014|     proceeds from the sale of the bonds are appropriated to the
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0015|     local government division of the department of finance and
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0016|     administration for the purpose of acquiring unincorporated land
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0017|     located in the northeastern area of Bernalillo county to
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0018|     establish a public park.  Any unexpended or unencumbered balance
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0019|     remaining at the end of fiscal year 1999 shall revert to the
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0020|     severance tax bonding fund.  If the local government division of
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0021|     the department of finance and administration has not certified
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0022|     the need for the issuance of the bonds by the end of fiscal year
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0023|     1998, the authorization provided in this section shall be void.
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0024|       Section 2.  EMERGENCY.--It is necessary for the public
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0025|     peace, health and safety that this act take effect immediately.
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0001|                               
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0002|             
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0003|   
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0004|                    FORTY-SECOND LEGISLATURE
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0005|                      SECOND SESSION, 1996
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0006|   
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0007|   
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0008|                                              FEBRUARY 9, 1996
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0009|   
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0010|   Mr. President:
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0011|   
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0012|     Your COMMITTEES' COMMITTEE, to whom has been referred
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0013|   
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0014|         SENATE CONSERVATION COMMITTEE SUBSTITUTE FOR SENATE
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0015|   BILL 837
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0016|   
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0017|   has had it under consideration and finds same to be GERMANE, PURSUANT
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0018|   TO CONSTITUTIONAL PROVISIONS, and further refers same to the FINANCE
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0019|   COMMITTEE.
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0020|   
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0021|                              Respectfully submitted,
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0022|   
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0023|   
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0024|   
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0025|   
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0001|                              __________________________________
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0002|                              SENATOR MANNY M. ARAGON, Chairman 
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0003|   
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0004|   
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0005|   
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0006|   Adopted_______________________ Not Adopted_______________________
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0007|             (Chief Clerk)                        (Chief Clerk)
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0008|   
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0009|   
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0010|                     Date ________________________
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0011|   
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0012|   
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0013|   
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0014|   S0837CC1
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