0001|                           SENATE BILL 238
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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|                          BEN D. ALTAMIRANO
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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, DESIGNING, CONSTRUCTING AND
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0013|     EQUIPPING AN EMERGENCY MEDICAL SERVICES FACILITY IN THE MIMBRES
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0014|     VALLEY AREA OF GRANT COUNTY; MAKING AN APPROPRIATION; DECLARING
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0015|     AN 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 two
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0022|     hundred thousand dollars ($200,000) 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 designing, planning,
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0010|     constructing and equipping an emergency medical services
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0011|     facility in the Mimbres valley area located in Grant county. 
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0012|     Any unexpended or unencumbered balance remaining at the end of
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0013|     fiscal year 2000 shall revert to the severance tax bonding
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0014|     fund.  If the local govenment division of the department of
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0015|     finance and administration has not certified the need for the
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0016|     issuance of the bonds by the end of fiscal year 1999, the
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0017|     authorization 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|                          FORTY-THIRD LEGISLATURE
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0022|                           FIRST SESSION
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0023|   
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0024|                                                  March 19, 1997
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0025|   
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0001|   
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0002|   SENATE FLOOR AMENDMENT number _______ to HOUSE BILL 238, as
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0003|   amended
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0004|   
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0005|   Amendment sponsored by Senator Carroll H. Leavell 
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0006|   
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0007|   
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0008|       1.  Strike Senate Corporations and Transportation Committee
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0009|   Amendment 34.
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0010|   
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0011|       2.  On page 8, strike lines 14 through 25 and insert in lieu
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0012|   thereof the following:
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0013|   
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0014|           "R.  The sale of insurance by a lending institution,
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0015|   credit union, sales finance company, insurance company, insurance
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0016|   agent, an institution that grants or arranges consumer credit or
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0017|   an institution that solicits or makes loans in New Mexico may be
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0018|   conducted by a person whose responsibilities include loan
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0019|   transactions or other transactions involving the extension of
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0020|   credit so long as the person who is primarily responsible for
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0021|   making the specific loan or extension of credit is not the same
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0022|   person engaged in the sale of insurance for that same
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0023|   transaction; provided, however, that the provisions of this
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0024|   subsection shall not apply to:
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0025|                
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0001|                (1)  a broker or dealer registered under the
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0002|   federal Securities Exchange Act of 1934; or 
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0003|   
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0004|                (2)  a lending institution location that has three
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0005|   or fewer persons with lending authority.".
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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|   __________________________
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0011|                                         Carroll H. Leavell
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0012|   
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0013|   
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0014|   Adopted ___________________   Not Adopted _______________________
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0015|            (Chief Clerk)                      (Chief Clerk)
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0016|   
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0017|   
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0018|                    Date _________________
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