0001|                            HOUSE BILL 952
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0002|     43rd legislature - STATE OF NEW MEXICO - first session, 1997
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0003|                            INTRODUCED BY
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0004|                          RAYMOND G. SANCHEZ
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0005|     
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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|                                AN ACT
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0011|     RELATING TO CAPITAL EXPENDITURES; AUTHORIZING THE ISSUANCE OF
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0012|     SEVERANCE TAX BONDS FOR CAPITAL IMPROVEMENTS IN HOUSE DISTRICT
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0013|     15 IN ALBUQUERQUE IN BERNALILLO COUNTY; MAKING APPROPRIATIONS;
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0014|     DECLARING AN EMERGENCY.
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0015|     
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0016|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0017|          Section 1.  SEVERANCE TAX BONDS--AUTHORIZATIONS--
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0018|     APPROPRIATION OF PROCEEDS.--
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0019|               A.  The state board of finance may issue and sell
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0020|     severance tax bonds in compliance with the Severance Tax
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0021|     Bonding Act in an amount not to exceed the total of the amounts
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0022|     authorized for purposes specified in Sections 2 through 5 of
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0023|     this act.  The state board of finance shall schedule the
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0024|     issuance and sale of the bonds in the most expeditious and
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0025|     economical manner possible upon a finding by the board that the
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0001|     project has been developed sufficiently to justify the issuance
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0002|     and that the project can proceed to contract within a
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0003|     reasonable time.  The state board of finance shall further take
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0004|     the appropriate steps necessary to comply with the Internal
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0005|     Revenue Code of 1986, as amended.  Proceeds from the sale of
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0006|     the bonds are appropriated for the purposes specified in
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0007|     Sections 2 through 5 of this act.
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0008|               B.  The agencies named in Sections 2 through 5 of
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0009|     this act shall certify to the state board of finance when the
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0010|     money from the proceeds of the severance tax bonds authorized
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0011|     in this section is needed for the purposes specified in the
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0012|     applicable section of this act.
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0013|               C.  If the specified agency has not certified the
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0014|     need for the issuance of the bonds by the end of fiscal year
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0015|     1999, the authorization provided in this act shall be void.
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0016|               D.  Unless otherwise specified in this act, any
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0017|     unexpended or unencumbered balance remaining from the proceeds
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0018|     of severance tax bonds issued pursuant to Sections 2 through 5
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0019|     of this act at the end of fiscal year 2000 shall revert to the
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0020|     severance tax bonding fund.
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0021|          Section 2.  SEVERANCE TAX BONDS--DEPARTMENT OF
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0022|     ENVIRONMENT--PURPOSE.--Pursuant to the provisions of Section 1
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0023|     of this act, upon certification by the department of
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0024|     environment that the need exists for the issuance of the bonds,
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0025|     one hundred sixty-nine thousand dollars ($169,000) is
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0001|     appropriated to the department of environment to reconstruct
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0002|     Alameda community center sewer system in Albuquerque in
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0003|     Bernalillo county.
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0004|          Section 3.  SEVERANCE TAX BONDS--DEPARTMENT OF FINANCE AND
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0005|     ADMINISTRATION--PURPOSES.--Pursuant to the provisions of
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0006|     Section 1 of this act, upon certification by the local
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0007|     government division of the department of finance and
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0008|     administration that the need exists for the issuance of the
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0009|     bonds, the following amounts are appropriated to the local
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0010|     government division for the following purposes in Albuquerque
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0011|     in Bernalillo county:
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0012|               A.  five hundred thousand dollars ($500,000) to
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0013|     develop the Alameda little league complex at balloon fiesta
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0014|     state park; and
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0015|               B.  three hundred thousand dollars ($300,000) to
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0016|     construct Alameda little league fields at balloon fiesta state
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0017|     park.
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0018|          Section 4.  SEVERANCE TAX BONDS--STATE HIGHWAY AND
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0019|     TRANSPORTATION DEPARTMENT--PURPOSE.--Pursuant to the provisions
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0020|     of Section 1 of this act, upon certification by the state
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0021|     highway and transportation department that the need exists for
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0022|     the issuance of the bonds, five hundred ninety thousand dollars
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0023|     ($590,000) is appropriated to the state highway and
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0024|     transportation department for the purpose of constructing a
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0025|     trail overpass across interstate 25 at Second street and the
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0001|     south side of Paseo del Norte located in Albuquerque in
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0002|     Bernalillo county.
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0003|          Section 5.  SEVERANCE TAX BONDS--UNIVERSITY OF NEW MEXICO-
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0004|     -PURPOSE.--Pursuant to the provisions of Section 1 of this act,
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0005|     upon certification by the board of regents of the university of
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0006|     New Mexico that the need exists for the issuance of the bonds,
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0007|     one million dollars ($1,000,000) is appropriated to the board
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0008|     of regents of the university of New Mexico for the purpose of
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0009|     planning, designing and constructing a criminalistic laboratory
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0010|     at the university of New Mexico in Albuquerque located in
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0011|     Bernalillo county.
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0012|          Section 6.  EMERGENCY.--It is necessary for the public
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0013|     peace, health and safety that this act take effect immediately.
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0014|                                  
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