0001|                            SENATE BILL 25
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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|                         MARY JANE M. GARCIA
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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 PLANNING AND DESIGNING A NEW AMBULANCE
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0013|     AND EMERGENCY MEDICAL SERVICES FACILITY FOR THE COMMUNITY OF
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0014|     HATCH IN DONA ANA COUNTY; MAKING AN APPROPRIATION; DECLARING AN
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0015|     EMERGENCY.
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0016|     
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0017|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0018|          Section 1.  SEVERANCE TAX BONDS--PURPOSE FOR WHICH ISSUED-
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0019|     -APPROPRIATION OF PROCEEDS.--The state board of finance may
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0020|     issue and sell severance tax bonds in compliance with the
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0021|     Severance Tax Bonding Act in an amount not exceeding twenty-
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0022|     five thousand dollars ($25,000) when the local government
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0023|     division of the department of finance and administration
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0024|     certifies the need for the issuance of the bonds.  The state
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0025|     board of finance shall schedule the issuance and sale of the
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0001|     bonds in the most expeditious and economical manner possible
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0002|     upon a finding by the board that the project has been developed
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0003|     sufficiently to justify the issuance and that the project can
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0004|     proceed to contract within a reasonable time.  The state board
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0005|     of finance shall further take the appropriate steps necessary
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0006|     to comply with the Internal Revenue Code of 1986, as amended. 
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0007|     The proceeds from the sale of the bonds are appropriated to the
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0008|     local government division of the department of finance and
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0009|     administration for the purpose of planning and designing a new
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0010|     ambulance and emergency medical services facility in the
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0011|     community of Hatch located in Dona Ana county.  Any unexpended
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0012|     or unencumbered balance remaining at the end of fiscal year
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0013|     2000 shall revert to the severance tax bonding fund.  If the
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0014|     local government division of the department of finance and
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0015|     administration has not certified the need for the issuance of
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0016|     the bonds by the end of fiscal year 1999, the authorization
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0017|     provided in this section shall be void.
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0018|          Section 2.  EMERGENCY.--It is necessary for the public
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0019|     peace, health and safety that this act take effect immediately.
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0020|                                  
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0021|       
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0022|   
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0023|                         FORTY-THIRD LEGISLATURE
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0024|                           FIRST SESSION, 1997
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0025|   
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0001|   
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0002|                                                     February 5, 1997
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0003|   
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0004|   Mr. President:
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0005|   
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0006|       Your PUBLIC AFFAIRS COMMITTEE, to whom has been referred
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0007|   
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0008|                             SENATE BILL 25
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0009|   
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0010|   has had it under consideration and reports same WITHOUT
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0011|   RECOMMENDATION, and thence referred to the 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|                                Shannon Robinson, Chairman 
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0019|   
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0020|   
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0021|   Adopted_______________________   Not Adopted_______________________
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0022|             (Chief Clerk)                          (Chief Clerk)
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0023|   
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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> 6 </u> For <u> 0 </u> Against
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0004|           Yes:    6
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0005|           No:     0
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0006|                Excused:     Boitano, Vernon, Smith
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0007|           Absent: None
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0008|   
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0009|   
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0010|   
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0011|   S0025PA1
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0012|   
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