0001|                           SENATE BILL 485
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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|                           JOSEPH A. FIDEL
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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 CAPITAL PROJECTS IN CIBOLA COUNTY;
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0013|     MAKING APPROPRIATIONS; DECLARING AN EMERGENCY.
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0014|     
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0015|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0016|          Section 1.  SEVERANCE TAX BONDS--AUTHORIZATIONS--
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0017|     APPROPRIATION OF PROCEEDS.--
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0018|               A.  The state board of finance may issue and sell
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0019|     severance tax bonds in compliance with the Severance Tax
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0020|     Bonding Act in an amount not to exceed the total of the amounts
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0021|     authorized for purposes specified in Sections 2 and 3 of this
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0022|     act.  The state board of finance shall schedule the issuance
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0023|     and sale of the bonds in the most expeditious and has been
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0024|     developed sufficiently to justify the issuance and that the
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0025|     project can proceed to contract within a reasonable time.  The
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0001|     state board of finance shall further take the appropriate steps
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0002|     necessary to comply with the Internal Revenue Code of 1986, as
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0003|     amended.  Proceeds from the sale of the bonds are appropriated
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0004|     for the purposes specified in Sections 2 and 3 of this act.
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0005|               B.  The agencies named in Sections 2 and 3 of this
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0006|     act shall certify to the state board of finance when the money
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0007|     from the proceeds of the severance tax bonds authorized in this
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0008|     section is needed for the purposes specified in the applicable
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0009|     section of this act.
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0010|               C.  If the specified agency has not certified the
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0011|     need for the issuance of the bonds by the end of fiscal year
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0012|     1999, the authorization provided in this act shall be void.
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0013|               D.  Unless otherwise specified in this act, any
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0014|     unexpended or unencumbered balance remaining from the proceeds
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0015|     of severance tax bonds issued pursuant to Sections 2 and 3 of
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0016|     this act at the end of fiscal year 2000 shall revert to the
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0017|     severance tax bonding fund.
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0018|          Section 2.  SEVERANCE TAX BONDS--DEPARTMENT OF FINANCE AND
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0019|     ADMINISTRATION--PURPOSES.--Pursuant to the provisions of
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0020|     Section 1 of this act, upon certification by the local
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0021|     government division of the department of finance and
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0022|     administration that the need exists for the issuance of the
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0023|     bonds, the following amounts are appropriated to the local
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0024|     government division of the department of finance and
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0025|     administration for the following purposes:
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0001|               A.  thirty-two thousand dollars ($32,000) to
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0002|     resurface existing tennis courts at Paddy Martinez park in
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0003|     Grants located in Cibola county;
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0004|               B.  fifty thousand dollars ($50,000) to purchase,
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0005|     relocate, set up and carpet two portable buildings for the
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0006|     headstart program in Grants located in Cibola county;
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0007|               C.  one million eight hundred thousand dollars
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0008|     ($1,800,000) to purchase a new water tank and to restore the
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0009|     existing water tank in Grants located in Cibola county;
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0010|               D.  seven hundred twenty thousand dollars ($720,000)
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0011|     for water, sewer and street improvements for the Gaboldon Hill
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0012|     area in Grants located in Cibola county;
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0013|               E.  three hundred thousand dollars ($300,000) to
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0014|     upgrade the domestic water system in Bluewater Acres located in
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0015|     Cibola county; and
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0016|               F.  one hundred seventy-five thousand dollars
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0017|     ($175,000) to plan and design a detention facility in the
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0018|     pueblo of Laguna located in Cibola county.
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0019|          Section 3.  SEVERANCE TAX BONDS--STATE DEPARTMENT OF
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0020|     PUBLIC EDUCATION--PURPOSES.--Pursuant to the provisions of
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0021|     Section 1 of this act, upon certification by the state
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0022|     department of public education that the need exists for the
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0023|     issuance of the bonds, the following amounts are appropriated
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0024|     to the state department of public education for the following
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0025|     purposes:
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0001|               A.  thirty-two thousand dollars ($32,000) for
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0002|     improvements to and resurfacing of existing tennis courts at
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0003|     Los Alamos middle school in Grants located in Cibola county;
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0004|     and
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0005|               B.  seventy-three thousand five hundred dollars
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0006|     ($73,500) for lighting, fencing, concrete walk expansion and
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0007|     equipment for existing tennis courts at Grants high school
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0008|     located in Cibola county.
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0009|          Section 4.  EMERGENCY.--It is necessary for the public
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0010|     peace, health and safety that this act take effect immediately.
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0011|                              
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