0001| HOUSE BILL 100
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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| GARY K. KING
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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 CAPITAL PROJECTS IN TORRANCE COUNTY;
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0014| MAKING APPROPRIATIONS; DECLARING AN EMERGENCY.
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0015|
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0016| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0017| Section 1. SEVERANCE TAX BONDS--AUTHORIZATIONS--
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0018| APPROPRIATION OF PROCEEDS.--
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0019| A. The state board of finance may issue and sell
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0020| severance tax bonds in compliance with the Severance Tax Bonding
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0021| Act in an amount not to exceed the total of the amounts
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0022| authorized for purposes specified in Sections 2 and 3 of this
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0023| act. The state board of finance shall schedule the issuance and
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0024| sale of the bonds in the most expeditious and economical manner
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0025| possible upon a finding by the board that the project has been
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0001| developed sufficiently to justify the issuance and that the
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0002| project can proceed to contract within a reasonable time. The
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0003| state board of finance shall further take the appropriate steps
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0004| necessary to comply with the Internal Revenue Code of 1986, as
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0005| amended. Proceeds from the sale of the bonds are appropriated
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0006| for the purposes specified in Sections 2 and 3 of this act.
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0007| B. The agencies named in Sections 2 and 3 of this
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0008| act shall certify to the state board of finance when the money
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0009| from the proceeds of the severance tax bonds authorized in this
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0010| section is needed for the purposes specified in the applicable
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0011| section of this act.
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0012| C. If the specified agency has not certified the
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0013| need for the issuance of the bonds by the end of fiscal year
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0014| 1998, the authorization provided in this act shall be void.
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0015| D. Unless otherwise specified in this act, any
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0016| unexpended or unencumbered balance remaining from the proceeds
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0017| of severance tax bonds issued pursuant to Sections 2 and 3 of
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0018| this act at the end of fiscal year 1999 shall revert to the
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0019| severance tax bonding fund.
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0020| Section 2. SEVERANCE TAX BONDS--LOCAL GOVERNMENT DIVISION
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0021| OF THE DEPARTMENT OF FINANCE AND ADMINISTRATION--PURPOSES.--Pursuant to the provisions of Section 1 of this act, upon
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0022| certification by the local government division of the department
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0023| of finance and administration that the need exists for the
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0024| issuance of the bonds, the following amounts are appropriated to
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0025| the local government division of the department of finance and
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0001| administration for the following purposes:
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0002| A. seven hundred eighty-eight thousand dollars
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0003| ($788,000) to design, construct and equip a judicial complex in
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0004| the town of Estancia located in Torrance county;
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0005| B. two hundred seventy thousand dollars ($270,000)
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0006| to renovate the Estancia courthouse located in Torrance county;
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0007| C. three hundred forty-five thousand dollars
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0008| ($345,000) to expand and improve the Estancia kennel located in
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0009| Torrance county;
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0010| D. one hundred eighty-seven thousand five hundred
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0011| dollars ($187,500) to design, construct and equip an Estancia
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0012| storage facility for county voting machines located in Torrance
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0013| county;
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0014| E. two hundred twenty-five thousand dollars
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0015| ($225,000) to improve and update equipment for the Moriarty fire
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0016| department serving residents of Estancia located in Torrance
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0017| county;
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0018| F. eighty thousand dollars ($80,000) to purchase new
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0019| vehicles for the Torrance county sheriff's department located in
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0020| Estancia in Torrance county;
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0021| G. four hundred eighty-six thousand dollars
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0022| ($486,000) to design, construct and equip a substance abuse and
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0023| mental health facility to serve Estancia and Moriarty patients
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0024| located in Torrance county;
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0025| H. twenty-five thousand dollars ($25,000) to study
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0001| and plan a segment of the salt missions scenic byway for that
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0002| portion of New Mexico highway 41 between Moriarty and Estancia
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0003| located in Torrance county; and
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0004| I. four hundred thousand dollars ($400,000) to
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0005| purchase equipment to surface and improve roads throughout
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0006| Torrance county.
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0007| Section 3. SEVERANCE TAX BONDS--DEPARTMENT OF
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0008| ENVIRONMENT--PURPOSE.--Pursuant to the provisions of Section 1
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0009| of this act, upon certification by the department of environment
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0010| that the need exists for the issuance of the bonds, fifty
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0011| thousand dollars ($50,000) is appropriated to the department of
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0012| environment for the purpose of designing and constructing a
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0013| water system for the McIntosh fire department located in
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0014| Torrance county.
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0015| Section 4. EMERGENCY.--It is necessary for the public
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0016| peace, health and safety that this act take effect immediately.
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0017|
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