0001|                            SENATE BILL 10
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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|                             GLORIA HOWES
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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 AN INSTRUCTIONAL LABORATORY FACILITY AT
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0013|     THE GALLUP BRANCH OF THE UNIVERSITY OF NEW MEXICO IN MCKINLEY
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0014|     COUNTY; MAKING AN APPROPRIATION; 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--PURPOSE FOR WHICH ISSUED-
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0018|     -APPROPRIATION OF PROCEEDS.--The state board of finance may
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0019|     issue and sell severance tax bonds in compliance with the
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0020|     Severance Tax Bonding Act in an amount not exceeding one
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0021|     million dollars ($1,000,000) when the board of regents of the
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0022|     university of New Mexico certifies the need for the issuance of
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0023|     the bonds.  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.  The proceeds from the sale
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0006|     of the bonds are appropriated to the board of regents of the
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0007|     university of New Mexico for the purpose of planning,
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0008|     designing, constructing, equipping and furnishing an
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0009|     instructional laboratory facility at the Gallup branch of the
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0010|     university of New Mexico located in McKinley county.  Any
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0011|     unexpended or unencumbered balance remaining at the end of
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0012|     fiscal year 2000 shall revert to the severance tax bonding
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0013|     fund.  If the board of regents of the university of New Mexico
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0014|     has not certified the need for the issuance of the bonds by the
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0015|     end of fiscal year 1999, the authorization provided in this
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0016|     section shall be void.
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0017|          Section 2.  EMERGENCY.--It is necessary for the public
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0018|     peace, health and safety that this act take effect immediately.
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0019|                                  
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0020|       
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0021|   
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0022|                      FORTY-THIRD LEGISLATURE
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0023|                        FIRST SESSION, 1997
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0024|   
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0025|   
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0001|                                                January 28, 1997
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0002|   
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0003|   Mr. President:
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0004|   
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0005|       Your EDUCATION COMMITTEE, to whom has been referred
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0006|   
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0007|                           SENATE BILL 10
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0008|   
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0009|   has had it under consideration and reports same with
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0010|   recommendation that it DO PASS, and thence referred to the
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0011|   FINANCE COMMITTEE.
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0012|   
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0013|                                Respectfully submitted,
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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|                                Cynthia Nava, Chairman 
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0020|   
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0021|   
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0022|   
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0023|   Adopted_______________________   Not
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0024|   Adopted_______________________
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0025|             (Chief Clerk)                          (Chief Clerk)
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0001|   
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0002|   
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0003|                     Date ________________________
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0004|   
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0005|   
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0006|   The roll call vote was <u> 8 </u> For <u> 2 </u> Against
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0007|           Yes:    8
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0008|           No:     0
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0009|                Excused:     Gorham, Maloof
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0010|           Absent: None
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0011|   
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0012|   
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0013|   S0010ED1
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0014|   
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0015|     
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0016|   
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0017|                      FORTY-THIRD LEGISLATURE
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0018|                        FIRST SESSION, 1997
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0019|   
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0020|   
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0021|                                                January 28, 1997
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0022|   
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0023|   Mr. President:
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0024|   
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0025|       Your EDUCATION COMMITTEE, to whom has been referred
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0001|   
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0002|                           SENATE BILL 10
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0003|   
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0004|   has had it under consideration and reports same with
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0005|   recommendation that it DO PASS, and thence referred to the
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0006|   FINANCE COMMITTEE.
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0007|   
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0008|                                Respectfully submitted,
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0009|   
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0010|   
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0011|   
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0012|                                
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0013|   __________________________________
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0014|                                Cynthia Nava, Chairman 
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0015|   
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0016|   
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0017|   
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0018|   Adopted_______________________   Not
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0019|   Adopted_______________________
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0020|             (Chief Clerk)                          (Chief Clerk)
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0021|   
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0022|   
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0023|                     Date ________________________
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0024|   
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0025|   
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0001|   The roll call vote was <u> 8 </u> For <u> 2 </u> Against
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0002|           Yes:    8
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0003|           No:     0
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0004|                Excused:     Gorham, Maloof
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0005|           Absent: None
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0006|   
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0007|   
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0008|   S0010ED1
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0009|   
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