0001|                         HOUSE BILL 10
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0002|     42ND LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION,
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0003|     1996
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0004|                         INTRODUCED BY
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0005|                        WALLACE CHARLEY
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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|                             AN ACT
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0012|     RELATING TO CAPITAL EXPENDITURES; AUTHORIZING THE ISSUANCE OF
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0013|     SEVERANCE TAX BONDS FOR THE DESIGNING, PLANNING AND CONSTRUCTING
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0014|     OF A SENIOR CENTER AT CUDEI CHAPTER IN SAN JUAN COUNTY; MAKING
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0015|     AN APPROPRIATION; DECLARING 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--APPROPRIATION OF PROCEEDS.--The state board of finance may issue
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0019|     and sell severance tax bonds in compliance with the Severance
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0020|     Tax Bonding Act in an amount not exceeding four hundred thousand
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0021|     dollars ($400,000) when the New Mexico office of Indian affairs
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0022|     certifies the need for the issuance of the bonds.  The state
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0023|     board of finance shall schedule the issuance and sale of the
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0024|     bonds in the most expeditious and economical manner possible
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0025|     upon a finding by the board that the project has been developed
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0001|     sufficiently to justify the issuance and that the project can
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0002|     proceed to contract within a reasonable time.  The state board
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0003|     of finance shall further take the appropriate steps necessary to
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0004|     comply with the Internal Revenue Code of 1986, as amended.  The
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0005|     proceeds from the sale of the bonds are appropriated to the New
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0006|     Mexico office of Indian affairs for the purpose of planning,
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0007|     designing and constructing a new senior center at the Cudei
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0008|     chapter located in San Juan county.  Any unexpended or
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0009|     unencumbered balance remaining at the end of fiscal year 1999
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0010|     shall revert to the severance tax bonding fund.  If the New
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0011|     Mexico office of Indian affairs has not certified the need for
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0012|     the issuance of the bonds by the end of fiscal year 1998, the
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0013|     authorization provided in this section shall be void.
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0014|       Section 2.  EMERGENCY.--It is necessary for the public
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0015|     peace, health and safety that this act take effect immediately.
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0016|                                                       State of New Mexico
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0017|                    House of Representatives
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0018|   
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0019|                    FORTY-SECOND LEGISLATURE
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0020|                      SECOND SESSION, 1996
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0021|   
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0022|                                              January 22, l996
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0023|   
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0024|   
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0025|   Mr. Speaker:
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0001|   
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0002|       Your RULES AND ORDER OF BUSINESS COMMITTEE, to
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0003|   whom has been referred
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0004|   
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0005|                         HOUSE BILL 15
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0006|                                 
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0007|   has had it under consideration and finds same to be 
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0008|   GERMANE in accordance with constitutional provisions.
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0009|   
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0010|                                Respectfully submitted,
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0011|   
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0012|   
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0013|                                <u>                                 
</u>    |
<u></u>0014| <u>   
</u>    |
<u></u>0015| <u>  </u>                            Barbara A. Perea Casey,
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0016|   Chairperson
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0017|   
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0018|   
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0019|   Adopted <u>                    </u>    Not Adopted <u>                     
</u>    |
<u></u>0020| <u>  </u>
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0021|            (Chief Clerk)                       (Chief Clerk)
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0022|   
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0023|                      Date <u>            </u>
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0024|   
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0025|   The roll call vote was<u> 9 </u> For<u> 0 </u> Against
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0001|   Yes:          9
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0002|   Excused: Lujan, Nicely, Olguin, Rodella, R. G. Sanchez,
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0003|   S. Williams
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0004|   Absent:  None
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0005|   
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0006|   H0015RC1
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