0001| SENATE BILL 867 | 0002| 43rd legislature - STATE OF NEW MEXICO - first session, 1997 | 0003| INTRODUCED BY | 0004| SHANNON ROBINSON | 0005| | 0006| | 0007| | 0008| | 0009| | 0010| AN ACT | 0011| RELATING TO CAPITAL EXPENDITURES; AUTHORIZING THE ISSUANCE OF | 0012| SEVERANCE TAX BONDS FOR THE DEVELOPMENT OF A FAMILY VISITATION | 0013| CENTER AT THE CENTRAL NEW MEXICO CORRECTIONAL FACILITY MINIMUM | 0014| UNIT IN LOS LUNAS IN VALENCIA COUNTY; MAKING AN APPROPRIATION; | 0015| DECLARING AN EMERGENCY. | 0016| | 0017| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: | 0018| Section 1. SEVERANCE TAX BONDS--PURPOSE FOR WHICH ISSUED- | 0019| -APPROPRIATION OF PROCEEDS.--The state board of finance may | 0020| issue and sell severance tax bonds in compliance with the | 0021| Severance Tax Bonding Act in an amount not exceeding fifty | 0022| thousand dollars ($50,000) when the corrections department | 0023| certifies the need for the issuance of the bonds. The state | 0024| board of finance shall schedule the issuance and sale of the | 0025| bonds in the most expeditious and economical manner possible | 0001| upon a finding by the board that the project has been developed | 0002| sufficiently to justify the issuance and that the project can | 0003| proceed to contract within a reasonable time. The state board | 0004| of finance shall further take the appropriate steps necessary | 0005| to comply with the Internal Revenue Code of 1986, as amended. | 0006| The proceeds from the sale of the bonds are appropriated to the | 0007| corrections department for the purpose of designing, | 0008| constructing, furnishing and equipping a family visitation | 0009| center at the central New Mexico correctional facility minimum | 0010| unit in Los Lunas located in Valencia county. Any unexpended | 0011| or unencumbered balance remaining at the end of fiscal year | 0012| 2000 shall revert to the severance tax bonding fund. If the | 0013| corrections department has not certified the need for the | 0014| issuance of the bonds by the end of fiscal year 1999, the | 0015| authorization provided in this section shall be void. | 0016| Section 2. EMERGENCY.--It is necessary for the public | 0017| peace, health and safety that this act take effect immediately. | 0018|  |