0001| HOUSE BILL 983 | 0002| 43rd legislature - STATE OF NEW MEXICO - first session, 1997 | 0003| INTRODUCED BY | 0004| DEBBIE A. RODELLA | 0005| | 0006| | 0007| | 0008| | 0009| | 0010| AN ACT | 0011| RELATING TO CAPITAL EXPENDITURES; AUTHORIZING THE ISSUANCE OF | 0012| SEVERANCE TAX BONDS FOR SANTA CLARA PUEBLO AND CHAMA VALLEY | 0013| INDEPENDENT SCHOOLS CAPITAL OUTLAY PROJECTS IN RIO ARRIBA | 0014| COUNTY; MAKING APPROPRIATIONS; DECLARING AN EMERGENCY. | 0015| | 0016| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: | 0017| Section 1. SEVERANCE TAX BONDS--AUTHORIZATIONS-- | 0018| APPROPRIATION OF PROCEEDS.-- | 0019| A. The state board of finance may issue and sell | 0020| severance tax bonds in compliance with the Severance Tax | 0021| Bonding Act in an amount not to exceed the total of the amounts | 0022| authorized for purposes specified in Sections 2 and 3 of this | 0023| act. The state board of finance shall schedule the issuance | 0024| and sale of the bonds in the most expeditious and economical | 0025| manner possible upon a finding by the board that the project | 0001| has been developed sufficiently to justify the issuance and | 0002| that the project can proceed to contract within a reasonable | 0003| time. The state board of finance shall further take the | 0004| appropriate steps necessary to comply with the Internal Revenue | 0005| Code of 1986, as amended. Proceeds from the sale of the bonds | 0006| are appropriated for the purposes specified in Sections 2 and 3 | 0007| of this act. | 0008| B. The agencies named in Sections 2 and 3 of this | 0009| act shall certify to the state board of finance when the money | 0010| from the proceeds of the severance tax bonds authorized in this | 0011| section is needed for the purposes specified in the applicable | 0012| section of this act. | 0013| C. If the specified agency has not certified the | 0014| need for the issuance of the bonds by the end of fiscal year | 0015| 1999, the authorization provided in this act shall be void. | 0016| D. Unless otherwise specified in this act, any | 0017| unexpended or unencumbered balance remaining from the proceeds | 0018| of severance tax bonds issued pursuant to Sections 2 and 3 of | 0019| this act at the end of fiscal year 2000 shall revert to the | 0020| severance tax bonding fund. | 0021| Section 2. SEVERANCE TAX BONDS--STATE DEPARTMENT OF | 0022| PUBLIC EDUCATION--PURPOSE.--Pursuant to the provisions of | 0023| Section 1 of this act, upon certification by the state | 0024| department of public education that the need exists for the | 0025| issuance of the bonds, two hundred fifty thousand dollars | 0001| ($250,000) is appropriated to the state department of public | 0002| education to design, construct, furnish and equip an addition | 0003| to the Escalante high school gymnasium for the Chama Valley | 0004| independent schools in Rio Arriba county. | 0005| Section 3. SEVERANCE TAX BONDS--STATE AGENCY ON AGING-- | 0006| PURPOSE.--Pursuant to the provisions of Section 1 of this act, | 0007| upon certification by the state agency on aging that the need | 0008| exists for the issuance of the bonds, two hundred nineteen | 0009| thousand dollars ($219,000) is appropriated to the state agency | 0010| on aging for the purpose of funding phase three of construction | 0011| of the Santa Clara senior citizen and community center of the | 0012| pueblo of Santa Clara located in Rio Arriba county. | 0013| Section 4. EMERGENCY.--It is necessary for the public | 0014| peace, health and safety that this act take effect immediately. | 0015|  |