0001|                           SENATE BILL 278
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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|                              JOHN PINTO
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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 TO INSTALL HOUSE WIRING AND CONSTRUCT
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0013|     BATHROOM ADDITIONS IN THE MANCOS CREEK AREA AND TO ACQUIRE
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0014|     RIGHTS OF WAY AND COMPLETE ENVIRONMENTAL ASSESSMENTS AND
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0015|     ARCHAEOLOGICAL STUDIES FOR A POWER LINE EXTENSION IN THE
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0016|     SHIPROCK AND MANCOS CREEK AREAS IN SAN JUAN COUNTY; MAKING AN
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0017|     APPROPRIATION; DECLARING AN EMERGENCY.
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0018|     
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0019|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0020|          Section 1.  SEVERANCE TAX BONDS--PURPOSE FOR WHICH ISSUED-
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0021|     -APPROPRIATION OF PROCEEDS.--The state board of finance may
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0022|     issue and sell severance tax bonds in compliance with the
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0023|     Severance Tax Bonding Act in an amount not exceeding one
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0024|     hundred four thousand dollars ($104,000) when the New Mexico
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0025|     office of Indian affairs certifies the need for the issuance of
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0001|     the bonds.  The state board of finance shall schedule the
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0002|     issuance and sale of the bonds in the most expeditious and
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0003|     economical manner possible upon a finding by the board that the
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0004|     project has been developed sufficiently to justify the issuance
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0005|     and that the project can proceed to contract within a
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0006|     reasonable time.  The state board of finance shall further take
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0007|     the appropriate steps necessary to comply with the Internal
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0008|     Revenue Code of 1986, as amended.  The proceeds from the sale
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0009|     of the bonds are appropriated to the New Mexico office of
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0010|     Indian affairs for the purpose of installing house wiring and
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0011|     constructing bathroom additions to ten homes in the Mancos
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0012|     Creek area and to acquire the rights of way and complete the
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0013|     environmental assessments and archaeological studies for a
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0014|     power line extension in the Shiprock and Mancos Creek areas
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0015|     located in San Juan county.  Any unexpended or unencumbered
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0016|     balance remaining at the end of fiscal year 2000 shall revert
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0017|     to the severance tax bonding fund.  If the New Mexico office of
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0018|     Indian affairs has not certified the need for the issuance of
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0019|     the bonds by the end of fiscal year 1999, the authorization
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0020|     provided in this section shall be void.
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0021|          Section 2.  EMERGENCY.--It is necessary for the public
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0022|     peace, health and safety that this act take effect immediately.
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0023|                              
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