0001| HOUSE BILL 357
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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| LUCIANO "LUCKY" VARELA
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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 IMPROVEMENTS IN THE CITY OF
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0014| SANTA FE LOCATED IN SANTA FE COUNTY; MAKING APPROPRIATIONS;
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0015| 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--AUTHORIZATIONS--
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0019| APPROPRIATION OF PROCEEDS.--
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0020| A. The state board of finance may issue and sell
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0021| severance tax bonds in compliance with the Severance Tax Bonding
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0022| Act in an amount not to exceed the total of the amounts
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0023| authorized for purposes specified in Sections 2 and 3 of this
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0024| act. The state board of finance shall schedule the issuance and
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0025| sale of the bonds in the most expeditious and economical manner
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0001| possible upon a finding by the board that the project has been
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0002| developed sufficiently to justify the issuance and that the
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0003| project can proceed to contract within a reasonable time. The
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0004| state board of finance shall further take the appropriate steps
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0005| necessary to comply with the Internal Revenue Code of 1986, as
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0006| amended. Proceeds from the sale of the bonds are appropriated
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0007| for the purposes specified in Sections 2 and 3 of this act.
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0008| B. The agencies named in Sections 2 and 3 of this
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0009| act shall certify to the state board of finance when the money
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0010| from the proceeds of the severance tax bonds authorized in this
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0011| section is needed for the purposes specified in the applicable
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0012| section of this act.
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0013| C. If the specified agency has not certified the
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0014| need for the issuance of the bonds by the end of fiscal year
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0015| 1998, the authorization provided in this act shall be void.
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0016| D. Unless otherwise specified in this act, any
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0017| unexpended or unencumbered balance remaining from the proceeds
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0018| of severance tax bonds issued pursuant to Sections 2 and 3 of
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0019| this act at the end of fiscal year 1999 shall revert to the
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0020| severance tax bonding fund.
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0021| Section 2. SEVERANCE TAX BONDS--DEPARTMENT OF FINANCE AND
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0022| ADMINISTRATION--PURPOSES.--Pursuant to the provisions of Section
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0023| 1 of this act, upon certification by the local government
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0024| division of the department of finance and administration that
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0025| the need exists for the issuance of the bonds, the following
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0001| amounts are appropriated to the local government division of the
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0002| department of finance and administration for the following
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0003| purposes:
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0004| A. three million one hundred fifty thousand dollars
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0005| ($3,150,000) to design and construct improvements to Salvador
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0006| Perez pool and park in the city of Santa Fe located in Santa Fe
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0007| county;
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0008| B. two million sixty thousand dollars ($2,060,000)
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0009| to plan and design trail corridors to connect various parks in
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0010| the city of Santa Fe located in Santa Fe county;
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0011| C. seven hundred thousand dollars ($700,000) to
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0012| acquire land for open-space parks in the city of Santa Fe
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0013| located in Santa Fe county;
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0014| D. one million eight hundred sixty thousand dollars
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0015| ($1,860,000) for land reclamation and to plan, design and
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0016| construct an inner city park for the city of Santa Fe located in
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0017| Santa Fe county;
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0018| E. two hundred fifty thousand dollars ($250,000) to
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0019| plan and design improvements to Franklin Miles park in the city
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0020| of Santa Fe located in Santa Fe county; and
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0021| F. five hundred thousand dollars ($500,000) to
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0022| construct improvements to the Santa Fe river channel in the city
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0023| of Santa Fe located in Santa Fe county.
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0024| Section 3. SEVERANCE TAX BONDS--OFFICE OF CULTURAL
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0025| AFFAIRS--PURPOSE.--Pursuant to the provisions of Section 1 of
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0001| this act, upon certification by the office of cultural affairs
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0002| that the need exists for the issuance of the bonds, seventy-five
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0003| thousand dollars ($75,000) is appropriated to the office of
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0004| cultural affairs for the purpose of planning and designing a
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0005| cultural museum in the city of Santa Fe located in Santa Fe
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0006| county.
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0007| Section 4. EMERGENCY.--It is necessary for the public
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0008| peace, health and safety that this act take effect immediately.
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