0001| SENATE BILL 843 | 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 THE PUBLIC PEACE, HEALTH, SAFETY AND WELFARE. | 0013| | 0014| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: | 0015| .110993.1 | 0016| | 0017| FORTY-SECOND LEGISLATURE | 0018| SECOND SESSION, 1996 | 0019| | 0020| | 0021| February 5, 1996 | 0022| | 0023| Mr. President: | 0024| | 0025| Your PUBLIC AFFAIRS COMMITTEE, to whom has been | 0001| referred | 0002| | 0003| SENATE BILL 843 | 0004| | 0005| has had it under consideration and reports same with | 0006| recommendation that it DO NOT PASS, but that | 0007| | 0008| SENATE PUBLIC AFFAIRS COMMITTEE SUBSTITUTE FOR | 0009| SENATE BILL 843 | 0010| | 0011| is reported WITHOUT RECOMMENDATION, and furhter recommends | 0012| that it be referred to the COMMITTEES' COMMITTEE. | 0013| | 0014| Respectfully submitted, | 0015| | 0016| | 0017| | 0018| __________________________________ | 0019| Shannon Robinson, Chairman | 0020| | 0021| | 0022| Adopted_______________________ Not Adopted_______________________ | 0023| (Chief Clerk) (Chief Clerk) | 0024| | 0025| Date ________________________ | 0001| | 0002| | 0003| | 0004| | 0005| S0843PA1 SENATE PUBLIC AFFAIRS COMMITTEE SUBSTITUTE FOR | 0006| SENATE BILL 843 | 0007| 42nd legislature - STATE OF NEW MEXICO - second session, 1996 | 0008| | 0009| | 0010| | 0011| | 0012| | 0013| | 0014| | 0015| AN ACT | 0016| RELATING TO THE PUBLIC PEACE, HEALTH, SAFETY AND WELFARE; | 0017| PROVIDING FOR CAPITAL EXPENDITURES; AUTHORIZING THE ISSUANCE OF | 0018| SEVERANCE TAX BONDS FOR ROAD IMPROVEMENT AND COURTHOUSE | 0019| RENOVATION PROJECTS IN ROOSEVELT AND CURRY COUNTIES; MAKING | 0020| APPROPRIATIONS; DECLARING AN EMERGENCY. | 0021| | 0022| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: | 0023| Section 1. SEVERANCE TAX BONDS--AUTHORIZATIONS-- | 0024| APPROPRIATION OF PROCEEDS.-- | 0025| A. The state board of finance may issue and sell | 0001| severance tax bonds in compliance with the Severance Tax Bonding | 0002| Act in an amount not to exceed the total of the amounts | 0003| authorized for purposes specified in Sections 2 and 3 of this | 0004| act. The state board of finance shall schedule the issuance and | 0005| sale of the bonds in the most expeditious and economical manner | 0006| possible upon a finding by the board that the project has been | 0007| developed sufficiently to justify the issuance and that the | 0008| project can proceed to contract within a reasonable time. The | 0009| state board of finance shall further take the appropriate steps | 0010| necessary to comply with the Internal Revenue Code of 1986, as | 0011| amended. Proceeds from the sale of the bonds are appropriated | 0012| for the purposes specified in Sections 2 and 3 of this act. | 0013| B. The agencies named in Sections 2 and 3 of this act | 0014| shall certify to the state board of finance when the money from | 0015| the proceeds of the severance tax bonds authorized in this | 0016| section is needed for the purposes specified in the applicable | 0017| section of this act. | 0018| C. If the specified agency has not certified the need | 0019| for the issuance of the bonds by the end of fiscal year 1998, | 0020| the authorization provided in this act shall be void. | 0021| D. Unless otherwise specified in this act, any | 0022| unexpended or unencumbered balance remaining from the proceeds | 0023| of severance tax bonds issued pursuant to Sections 2 and 3 of | 0024| this act at the end of fiscal year 1999 shall revert to the | 0025| severance tax bonding fund. | 0001| Section 2. SEVERANCE TAX BONDS--STATE HIGHWAY AND | 0002| TRANSPORTATION DEPARTMENT--PURPOSES.--Pursuant to the provisions | 0003| of Section 1 of this act, upon certification by the state | 0004| highway and transportation department that the need exists for | 0005| the issuance of the bonds, the following amounts are | 0006| appropriated to the state highway and transportation department | 0007| for the following purposes: | 0008| A. two hundred thousand dollars ($200,000) for road | 0009| improvements in Roosevelt county; and | 0010| B. two hundred thousand dollars ($200,000) for road | 0011| improvements in Curry county. | 0012| Section 3. SEVERANCE TAX BONDS--DEPARTMENT OF FINANCE AND | 0013| ADMINISTRATION--PURPOSE.--Pursuant to the provisions of Section | 0014| 1 of this act, upon certification by the local government | 0015| division of the department of finance and administration that | 0016| the need exists for the issuance of the bonds, two hundred | 0017| thousand dollars ($200,000) is appropriated to the local | 0018| government division of the department of finance and | 0019| administration for renovation and improvements to the Roosevelt | 0020| county courthouse. | 0021| Section 4. EMERGENCY.--It is necessary for the public | 0022| peace, health and safety that this act take effect immediately. | 0023| - 3 - | 0024| | 0025| FORTY-SECOND LEGISLATURE | 0001| SECOND SESSION, 1996 | 0002| | 0003| | 0004| FEBRUARY 9, 1996 | 0005| | 0006| Mr. President: | 0007| | 0008| Your COMMITTEES' COMMITTEE, to whom has been referred | 0009| | 0010| SENATE PUBLIC AFFAIRS COMMITTEE SUBSTITUTE FOR SENATE | 0011| BILL 843 | 0012| | 0013| has had it under consideration and finds same to be GERMANE, PURSUANT | 0014| TO CONSTITUTIONAL PROVISIONS, and further refers same to the FINANCE | 0015| COMMITTEE. | 0016| | 0017| Respectfully submitted, | 0018| | 0019| | 0020| | 0021| | 0022| __________________________________ | 0023| SENATOR MANNY M. ARAGON, Chairman | 0024| | 0025| | 0001| | 0002| Adopted_______________________ Not Adopted_______________________ | 0003| (Chief Clerk) (Chief Clerk) | 0004| | 0005| | 0006| Date ________________________ | 0007| | 0008| | 0009| | 0010| S0843CC1 |