0001|                           SENATE BILL 103
    |
0002|     43rd legislature - STATE OF NEW MEXICO - first session, 1997
    |
0003|                            INTRODUCED BY
    |
0004|                         MARY JANE M. GARCIA
    |
0005|     
    |
0006|                                   
    |
0007|     
    |
0008|     
    |
0009|     
    |
0010|                                AN ACT
    |
0011|     MAKING AN APPROPRIATION TO PURCHASE EQUIPMENT TO ESTABLISH A
    |
0012|     RECYCLING PLANT IN THE VILLAGE OF HATCH; DECLARING AN
    |
0013|     EMERGENCY.
    |
0014|     
    |
0015|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
    |
0016|          Section 1.  APPROPRIATION.--Fifty thousand dollars
    |
0017|     ($50,000) is appropriated from the general fund to the local
    |
0018|     government division of the department of finance and
    |
0019|     administration for expenditure in fiscal years 1997 and 1998 to
    |
0020|     purchase equipment to establish a recycling plant in the
    |
0021|     village of Hatch.  Any unexpended or unencumbered balance
    |
0022|     remaining at the end of fiscal year 1998 shall revert to the
    |
0023|     general fund.
    |
0024|          Section 2.  EMERGENCY.--It is necessary for the public
    |
0025|     peace, health and safety that this act take effect immediately.
    |
0001|     .113134.1
    |
0002|       
    |
0003|   
    |
0004|                         FORTY-THIRD LEGISLATURE
    |
0005|                           FIRST SESSION, 1997               SB 103/a
    |
0006|   
    |
0007|   
    |
0008|                                                     February 5, 1997
    |
0009|   
    |
0010|   Mr. President:
    |
0011|   
    |
0012|       Your PUBLIC AFFAIRS COMMITTEE, to whom has been referred
    |
0013|   
    |
0014|                             SENATE BILL 103
    |
0015|   
    |
0016|   has had it under consideration and reports same WITHOUT
    |
0017|   RECOMMENDATION, amended as follows:
    |
0018|   
    |
0019|       1.  On page 1, strike lines 11 and 12 and insert in lieu thereof:
    |
0020|   "RELATING TO CAPITAL EXPENDITURES; AUTHORIZING THE ISSUANCE OF
    |
0021|   SEVERANCE TAX BONDS FOR EQUIPMENT PURCHASE FOR ECONOMIC DEVELOPMENT IN
    |
0022|   THE VILLAGE OF HATCH IN DONA ANA COUNTY; MAKING AN APPROPRIATION;
    |
0023|   DECLARING AN EMERGENCY.".
    |
0024|       
    |
0025|   2.  On page 1, strike lines 15 through 21 and insert in lieu thereof:
    |
0001|   
    |
0002|       "Section 1.  SEVERANCE TAX BONDS--DEPARTMENT OF FINANCE AND
    |
0003|   ADMINISTRATION--PURPOSE.--The state board of finance may issue and
    |
0004|   sell severance tax bonds in compliance with the Severance Tax Bonding
    |
0005|   Act in an amount not exceeding fifty thousand dollars ($50,000) when
    |
0006|   the local government division of the department of finance and
    |
0007|   administration certifies the need for the issuance of the bonds.  The
    |
0008|   state board of finance shall schedule the issuance and sale of the
    |
0009|   bonds in the most expeditious and economical manner possible upon a
    |
0010|   finding by the board that the project has been developed sufficiently
    |
0011|   to justify the issuance and that the project can proceed to contract
    |
0012|   within a reasonable time.  The state board of finance shall further
    |
0013|   take the appropriate steps necessary to comply with the Internal
    |
0014|   Revenue Code of 1986, as amended.  
    |
0015|   
    |
0016|   
    |
0017|   
    |
0018|   
    |
0019|   
    |
0020|   
    |
0021|   
    |
0022|   
    |
0023|   
    |
0024|   
    |
0025|   
    |
0001|   
    |
0002|   
    |
0003|   
    |
0004|   The proceeds from the sale of the bonds are appropriated to the local
    |
0005|   government division of the department of finance and administration
    |
0006|   for the purpose of purchasing equipment to establish a recycling plant
    |
0007|   in the village of Hatch in Dona Ana county.  Any unexpended or
    |
0008|   unencumbered balance remaining at the end of fiscal year 2000 shall
    |
0009|   revert to the severance tax bonding fund.  If the local government
    |
0010|   division of the department of finance and administration has not
    |
0011|   certified the need for the issuance of the bonds by the end of fiscal
    |
0012|   year 1999, the authorization provided in this section shall be
    |
0013|   void.".,
    |
0014|   
    |
0015|   and thence referred to the FINANCE COMMITTEE.
    |
0016|   
    |
0017|                                    Respectfully submitted,
    |
0018|   
    |
0019|   
    |
0020|   
    |
0021|                                    _________________________________
    |
0022|                                    Shannon Robinson, Chairman 
    |
0023|   
    |
0024|   
    |
0025|   Adopted_______________________        Not Adopted______________________
    |
0001|             (Chief Clerk)                            (Chief Clerk)
    |
0002|   
    |
0003|   
    |
0004|                     Date ________________________
    |
0005|   
    |
0006|   
    |
0007|   The roll call vote was <u> 6 </u> For <u> 0 </u> Against
    |
0008|           Yes:    6
    |
0009|           No:     0
    |
0010|                Excused:     Boitano, Rodarte, Smith
    |
0011|           Absent: None
    |
0012|   
    |
0013|   
    |
0014|   
    |
0015| S0103PA1                                                 .115918.1
    |