44th legislature - STATE OF NEW MEXICO - second session, 2000

RELATING TO PUBLIC PROPERTY; AUTHORIZING THE PROPERTY CONTROL DIVISION OF THE GENERAL SERVICES DEPARTMENT TO ACQUIRE VARIOUS OFFICE BUILDINGS AND LAND IN SANTA FE COUNTY FOR USE AS STATE OFFICE BUILDINGS; MAKING AN APPROPRIATION; AUTHORIZING THE ISSUANCE OF STATE OFFICE BUILDING TAX REVENUE BONDS; DECLARING AN EMERGENCY.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

Section 1. AUTHORIZATION TO ACQUIRE PROPERTY--APPROPRIATION.--

A. In order to acquire the following properties for use as state agency offices in Santa Fe county, the property control division of the general services department may:

(1) purchase and renovate, equip and furnish the national education association building on South Capitol street;

(2) plan, design, construct, equip and furnish a new office building with integrated parking at the west capitol complex on Cerrillos road, pursuant to the design funded by Subsection I of Section 14 of Chapter 118 of Laws 1998, at a price not to exceed twenty-five million dollars ($25,000,000);

(3) purchase and renovate, equip and furnish the public employees retirement association building on Paseo de Peralta; and

(4) purchase land adjacent to the district five office of the state highway and transportation department on Cerrillos Road.

B. The acquisitions of property pursuant to Subsection A of this section shall be made in the priority order listed in that subsection. Purchases authorized in Subsection A of this section shall be made at a price not to exceed the value of the property established by the taxation and revenue department using generally accepted appraisal techniques for the type of property purchased.

C. As amounts become available in the property control reserve fund, as much of the property control reserve fund as is necessary to comply with the provisions of Subsection A of this section is appropriated to the property control division of the general services department for expenditure in fiscal year 2000 and subsequent fiscal years.

Section 2. STATE OFFICE BUILDING TAX REVENUE BONDS-- AUTHORIZATION--CONTINGENCY.--

A. The state board of finance may issue and sell state office building tax revenue bonds in compliance with the State Office Building Acquisition Bonding Act in a total amount not to exceed seventy-five million dollars ($75,000,000) when the director of the property control division certifies to the board that the proceeds from the state office building tax revenue bonds are needed to acquire one or more of the properties specified in Section 1 of this act. The state board of finance shall schedule the issuance and sale of the bonds in the most expeditious and economical manner possible upon a finding by the board that the acquisition can proceed within a reasonable time. The state board of finance shall further take the appropriate steps necessary to comply with the Internal Revenue Code of 1986, as amended. Proceeds from the sale of the bonds are appropriated to the property control reserve fund.

B. The authorization made in Subsection A of this section is contingent upon the enactment into law of the State Office Building Acquisition Bonding Act by the second session of the forty-fourth legislature.

Section 3. EMERGENCY.--It is necessary for the public peace, health and safety that this act take effect immediately.