0001| HOUSE BILL 113 | 0002| 43rd legislature - STATE OF NEW MEXICO - first session, 1997 | 0003| INTRODUCED BY | 0004| SAMUEL F. VIGIL | 0005| | 0006| | 0007| | 0008| | 0009| | 0010| AN ACT | 0011| RELATING TO CAPITAL EXPENDITURES; AUTHORIZING THE ISSUANCE OF | 0012| SEVERANCE TAX BONDS TO CONSTRUCT HANDICAPPED ACCESS AND | 0013| PEDESTRIAN FACILITIES AT PUBLIC BUILDINGS IN THE CITY OF LAS | 0014| VEGAS IN SAN MIGUEL COUNTY; MAKING AN APPROPRIATION; DECLARING | 0015| AN EMERGENCY. | 0016| | 0017| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: | 0018| Section 1. SEVERANCE TAX BONDS--PURPOSE FOR WHICH ISSUED- | 0019| -APPROPRIATION OF PROCEEDS.--The state board of finance may | 0020| issue and sell severance tax bonds in compliance with the | 0021| Severance Tax Bonding Act in an amount not exceeding eight | 0022| hundred ninety-seven thousand dollars ($897,000) when the local | 0023| government division of the department of finance and | 0024| administration certifies the need for the issuance of the | 0025| bonds. The state board of finance shall schedule the issuance | 0001| and sale of the bonds in the most expeditious and economical | 0002| manner possible upon a finding by the board that the project | 0003| has been developed sufficiently to justify the issuance and | 0004| that the project can proceed to contract within a reasonable | 0005| time. The state board of finance shall further take the | 0006| appropriate steps necessary to comply with the Internal Revenue | 0007| Code of 1986, as amended. The proceeds from the sale of the | 0008| bonds are appropriated to the local government division of the | 0009| department of finance and administration for the purpose of | 0010| constructing handicapped access and pedestrian facilities at | 0011| public buildings and rights of way in the city of Las Vegas | 0012| located in San Miguel county. Any unexpended or unencumbered | 0013| balance remaining at the end of fiscal year 2000 shall revert | 0014| to the severance tax bonding fund. If the local government | 0015| division of the department of finance and administration has | 0016| not certified the need for the issuance of the bonds by the end | 0017| of fiscal year 1999, the authorization provided in this section | 0018| shall be void. | 0019| Section 2. EMERGENCY.--It is necessary for the public | 0020| peace, health and safety that this act take effect immediately. | 0021|  |