0001|                        SENATE BILL 852
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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|                            JOHN PINTO
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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 4, 1996
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0022|   
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0023|   Mr. President:
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0024|   
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0025|     Your INDIAN & CULTURAL AFFAIRS COMMITTEE, to whom
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0001|   has been referred
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0002|   
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0003|                        SENATE BILL 852
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0004|   
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0005|   has had it under consideration and reports same with
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0006|   recommendation that it DO NOT PASS, but that
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0007|   
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0008|      SENATE INDIAN AND CULTURAL AFFAIRS COMMITTEE SUBSTITUTE FOR 
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0009|                            SENATE BILL 852
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0010|                                   
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0011|                                  DO PASS, and further recommends that it be referred to the
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0012|   COMMITTEES' 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|                              John Pinto, Chairman 
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0020|   
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0021|   
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0022|   Adopted_______________________ Not Adopted_______________________
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0023|             (Chief Clerk)                          (Chief Clerk)
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0024|   
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0025|                     Date ________________________
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0001|   
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0002|   
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0003|   The roll call vote was <u> 7 </u> For <u> 0 </u> Against
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0004|   Yes:  7
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0005|   No:        0
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0006|   Excused:   Maes
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0007|   Absent:    None
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0008|   
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0009|     S0852IC1    SENATE INDIAN AND CULTURAL AFFAIRS COMMITTEE SUBSTITUTE FOR
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0010|                       SENATE BILL 852
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0011|                                  42nd legislature - STATE OF NEW MEXICO - second session, 1996
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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|     
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0019|                             AN ACT
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0020|     RELATING TO CAPITAL EXPENDITURES; AUTHORIZING THE ISSUANCE OF
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0021|     SEVERANCE TAX BONDS FOR A SOCIAL SERVICES BUILDING AT CROWNPOINT
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0022|     IN MCKINLEY COUNTY; 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 four hundred fifty
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0004|     thousand dollars ($450,000) when the New Mexico office of Indian
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0005|     affairs certifies the need for the issuance of the bonds.  The
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0006|     state board of finance shall schedule the issuance and sale of
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0007|     the bonds in the most expeditious and economical manner possible
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0008|     upon a finding by the board that the project has been developed
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0009|     sufficiently to justify the issuance and that the project can
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0010|     proceed to contract within a reasonable time.  The state board
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0011|     of finance shall further take the appropriate steps necessary to
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0012|     comply with the Internal Revenue Code of 1986, as amended.  The
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0013|     proceeds from the sale of the bonds are appropriated to the New
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0014|     Mexico office of Indian affairs for the purpose of acquiring,
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0015|     installing, equipping and furnishing a modular building for
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0016|     social services at Crownpoint located in McKinley county.  Any
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0017|     unexpended or unencumbered balance remaining at the end of
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0018|     fiscal year 1999 shall revert to the severance tax bonding fund. 
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0019|     If the New Mexico office of Indian affairs has not certified the
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0020|     need for the issuance of the bonds by the end of fiscal year
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0021|     1998, the authorization provided in this section shall be void.
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0022|       Section 2.  EMERGENCY.--It is necessary for the public
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0023|     peace, health and safety that this act take effect immediately.
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0024|                               
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0025|             
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0001|   
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0002|                    FORTY-SECOND LEGISLATURE
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0003|                      SECOND SESSION, 1996
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0004|   
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0005|   
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0006|                                              FEBRUARY 8, 1996
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0007|   
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0008|   Mr. President:
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0009|   
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0010|     Your COMMITTEES' COMMITTEE, to whom has been referred
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0011|   
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0012|                           SENATE BILL 852
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0013|   
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0014|   has had it under consideration and finds same to be GERMANE, PURSUANT
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0015|   TO CONSTITUTIONAL PROVISIONS, and thence referred to the FINANCE
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0016|   COMMITTEE.
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0017|   
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0018|                              Respectfully submitted,
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0019|   
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0020|   
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0021|   
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0022|   
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0023|                              __________________________________
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0024|                              SENATOR MANNY M. ARAGON, Chairman 
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0025|   
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0001|   
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0002|   
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0003|   Adopted_______________________ Not Adopted_______________________
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0004|             (Chief Clerk)                        (Chief Clerk)
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0005|   
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0006|   
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0007|                     Date ________________________
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0008|   
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0009|   
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0010|   
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0011|   S0852CC1
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