0001| SENATE BILL 164 | 0002| 43rd legislature - STATE OF NEW MEXICO - first session, 1997 | 0003| INTRODUCED BY | 0004| CARROLL H. LEAVELL | 0005| | 0006| | 0007| | 0008| | 0009| | 0010| AN ACT | 0011| RELATING TO CAPITAL EXPENDITURES; AUTHORIZING THE ISSUANCE OF | 0012| SEVERANCE TAX BONDS FOR CAPITAL IMPROVEMENTS IN JAL IN LEA | 0013| COUNTY; MAKING APPROPRIATIONS; DECLARING AN EMERGENCY. | 0014| | 0015| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: | 0016| Section 1. SEVERANCE TAX BONDS--AUTHORIZATIONS-- | 0017| APPROPRIATION OF PROCEEDS.-- | 0018| A. The state board of finance may issue and sell | 0019| severance tax bonds in compliance with the Severance Tax | 0020| Bonding Act in an amount not to exceed the total of the amounts | 0021| authorized for purposes specified in Sections 2 through 4 of | 0022| this act. The state board of finance shall schedule the | 0023| issuance and sale of the bonds in the most expeditious and | 0024| economical manner possible upon a finding by the board that the | 0025| project has been developed sufficiently to justify the issuance | 0001| and that the project can proceed to contract within a | 0002| reasonable time. The state board of finance shall further take | 0003| the appropriate steps necessary to comply with the Internal | 0004| Revenue Code of 1986, as amended. Proceeds from the sale of | 0005| the bonds are appropriated for the purposes specified in | 0006| Sections 2 through 4 of this act. | 0007| B. The agencies named in Sections 2 through 4 of | 0008| this act shall certify to the state board of finance when the | 0009| money from the proceeds of the severance tax bonds authorized | 0010| in this section is needed for the purposes specified in the | 0011| applicable section of this act. | 0012| C. If the specified agency has not certified the | 0013| need for the issuance of the bonds by the end of fiscal year | 0014| 1999, the authorization provided in this act shall be void. | 0015| D. Unless otherwise specified in this act, any | 0016| unexpended or unencumbered balance remaining from the proceeds | 0017| of severance tax bonds issued pursuant to Sections 2 through 4 | 0018| of this act at the end of fiscal year 2000 shall revert to the | 0019| severance tax bonding fund. | 0020| Section 2. SEVERANCE TAX BONDS--DEPARTMENT OF | 0021| ENVIRONMENT--PURPOSE.--Pursuant to the provisions of Section 1 | 0022| of this act, upon certification by the department of | 0023| environment that the need exists for the issuance of the bonds, | 0024| three hundred twelve thousand dollars ($312,000) is | 0025| appropriated to the department of environment to replace and | 0001| reconnect water lines and otherwise upgrade the water system in | 0002| Jal in Lea county to enable more water pressure, better safety | 0003| and improved service to its residents. | 0004| Section 3. SEVERANCE TAX BONDS--STATE HIGHWAY AND | 0005| TRANSPORTATION DEPARTMENT--PURPOSE.--Pursuant to the provisions | 0006| of Section 1 of this act, upon certification by the state | 0007| highway and transportation department that the need exists for | 0008| the issuance of the bonds, three hundred seven thousand eight | 0009| hundred dollars ($307,800) is appropriated to the state highway | 0010| and transportation department for the purpose of repaving and | 0011| reconstructing streets that provide access to residential, | 0012| business and school districts and are heavily traveled in the | 0013| city of Jal in Lea county. | 0014| Section 4. SEVERANCE TAX BONDS--LOCAL GOVERNMENT DIVISION | 0015| OF THE DEPARTMENT OF FINANCE AND ADMINISTRATION--PURPOSES.-- | 0016| Pursuant to the provisions of Section 1 of this act, upon | 0017| certification by the local government division of the | 0018| department of finance and administration that the need exists | 0019| for the issuance of the bonds, the following amounts are | 0020| appropriated to the local government division of the department | 0021| of finance and administration for infrastructure capital | 0022| improvements in the city of Jal in Lea county as follows: | 0023| A. one hundred thirty-five thousand dollars | 0024| ($135,000) for a regenerative air system street sweeper to keep | 0025| recently reconstructed streets clean and help prevent cracking | 0001| and breaking of blacktop; | 0002| B. four hundred thirty-six thousand six hundred | 0003| sixteen dollars ($436,616) to renovate the Jal "hospital" | 0004| building so that it could be used by the city for any number of | 0005| purposes, including as a nursing home, chemical dependency | 0006| center or office building, any of which would enhance economic | 0007| development in Jal; | 0008| C. twenty-three thousand three hundred dollars | 0009| ($23,300) for two auto-defibrillator units to be installed in | 0010| Jal's two ambulances to improve the ambulance service; and | 0011| D. thirty-five thousand dollars ($35,000) to | 0012| improve Jal and Cooper cemeteries to prevent erosion and to | 0013| ensure security, including providing fencing and lighting, | 0014| planting trees and grass and improving roads. | 0015| Section 5. EMERGENCY.--It is necessary for the public | 0016| peace, health and safety that this act take effect immediately. | 0017|  |