0001| HOUSE BILL 60 | 0002| 42ND LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION, | 0003| 1996 | 0004| INTRODUCED BY | 0005| NICK L. SALAZAR | 0006| | 0007| | 0008| | 0009| | 0010| | 0011| AN ACT | 0012| RELATING TO CAPITAL EXPENDITURES; AUTHORIZING THE ISSUANCE OF | 0013| SEVERANCE TAX BONDS FOR IMPROVEMENTS TO THE NEW MOON LODGE | 0014| FACILITY AT SAN JUAN PUEBLO IN RIO ARRIBA COUNTY; MAKING AN | 0015| APPROPRIATION; 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--APPROPRIATION OF PROCEEDS.-- | 0019| A. The state board of finance may issue and sell | 0020| severance tax bonds in compliance with the Severance Tax Bonding | 0021| Act in an amount not exceeding four hundred fifty thousand | 0022| dollars ($450,000) when the New Mexico office of Indian affairs | 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 to | 0005| comply with the Internal Revenue Code of 1986, as amended. The | 0006| proceeds from the sale of the bonds are appropriated to the New | 0007| Mexico office of Indian affairs in the following amounts for the | 0008| following purposes: | 0009| (1) one hundred fifty thousand dollars | 0010| ($150,000) to remodel the kitchen and bathrooms at the existing | 0011| New Moon lodge at San Juan pueblo in Rio Arriba county to bring | 0012| them into compliance with building code requirements; and | 0013| (2) three hundred thousand dollars ($300,000) | 0014| to plan, design or construct a new women's unit at the New Moon | 0015| lodge at San Juan pueblo in Rio Arriba county. | 0016| B. If the New Mexico office of Indian affairs has | 0017| not certified the need for the issuance of the bonds by the end | 0018| of fiscal year 1998, the authorization provided in this section | 0019| shall be void. Any unexpended or unencumbered balance remaining | 0020| from the proceeds of severance tax bonds issued pursuant to | 0021| Subsection A of this section at the end of fiscal year 1999 | 0022| shall revert to the severance tax bonding fund. | 0023| Section 2. EMERGENCY.--It is necessary for the public | 0024| peace, health and safety that this act take effect immediately. | 0025|  |