0001| HOUSE BILL 493 | 0002| 42ND LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION, | 0003| 1996 | 0004| INTRODUCED BY | 0005| SAMUEL F. VIGIL | 0006| | 0007| | 0008| | 0009| | 0010| | 0011| AN ACT | 0012| RELATING TO CAPITAL EXPENDITURES; AUTHORIZING THE ISSUANCE OF | 0013| SEVERANCE TAX BONDS FOR CERTAIN CAPITAL PROJECTS FOR SAN MIGUEL | 0014| COUNTY; MAKING APPROPRIATIONS; DECLARING AN EMERGENCY. | 0015| | 0016| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: | 0017| Section 1. SEVERANCE TAX BONDS--AUTHORIZATIONS-- | 0018| 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 to exceed the total of the amounts | 0022| authorized for purposes specified in Sections 2 and 3 of this | 0023| act. The state board of finance shall schedule the issuance and | 0024| sale of the bonds in the most expeditious and economical manner | 0025| possible upon a finding by the board that the project has been | 0001| developed sufficiently to justify the issuance and that the | 0002| project can proceed to contract within a reasonable time. The | 0003| state board of finance shall further take the appropriate steps | 0004| necessary to comply with the Internal Revenue Code of 1986, as | 0005| amended. Proceeds from the sale of the bonds are appropriated | 0006| for the purposes specified in Sections 2 and 3 of this act. | 0007| B. The agencies named in Sections 2 and 3 of this | 0008| act shall certify to the state board of finance when the money | 0009| from the proceeds of the severance tax bonds authorized in this | 0010| section is needed for the purposes specified in the applicable | 0011| section of this act. | 0012| C. If the specified agency has not certified the | 0013| need for the issuance of the bonds by the end of fiscal year | 0014| 1998, the authorization provided in this act shall be void. | 0015| D. Unless otherwise specified in this act, any | 0016| unexpended or unencumbered balance remaining from the proceeds | 0017| of severance tax bonds issued pursuant to Sections 2 and 3 of | 0018| this act at the end of fiscal year 1999 shall revert to the | 0019| severance tax bonding fund. | 0020| Section 2. SEVERANCE TAX BONDS--DEPARTMENT OF FINANCE AND | 0021| ADMINISTRATION--PURPOSES.--Pursuant to the provisions of Section | 0022| 1 of this act, upon certification by the local government | 0023| division of the department of finance and administration that | 0024| the need exists for the issuance of the bonds, the following | 0025| amounts are appropriated to the local government division of the | 0001| department of finance and administration for the following | 0002| purposes: | 0003| A. one million dollars ($1,000,000) to plan, design, | 0004| construct or equip a county health facility located in San | 0005| Miguel county; | 0006| B. two hundred thousand dollars ($200,000) to | 0007| conduct a comprehensive land use study for San Miguel county; | 0008| C. one hundred forty thousand dollars ($140,000) to | 0009| purchase vehicles for the sheriff's office and corrections | 0010| department located in San Miguel county; | 0011| D. twenty-five thousand dollars ($25,000) to | 0012| purchase a modular facility for use as the San Miguel sheriff's | 0013| office; and | 0014| E. twenty thousand dollars ($20,000) to upgrade the | 0015| radio communications systems of the San Miguel sheriff's office. | 0016| Section 3. SEVERANCE TAX BONDS--STATE HIGHWAY AND | 0017| TRANSPORTATION DEPARTMENT--PURPOSE.--Pursuant to the provisions | 0018| of Section 1 of this act, upon certification by the state | 0019| highway and transportation department that the need exists for | 0020| the issuance of the bonds, five hundred twenty-five thousand | 0021| dollars ($525,000) is appropriated to the state highway and | 0022| transportation department for the purpose of conducting various | 0023| projects on roads located in San Miguel county. | 0024| Section 4. EMERGENCY.--It is necessary for the public | 0025| peace, health and safety that this act take effect immediately. | 0001|  |