0001| HOUSE BILL 552
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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| JERRY LEE ALWIN
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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 CERTAIN PROJECTS AT THE PENITENTIARY OF
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0014| NEW MEXICO IN SANTA FE COUNTY AND AT THE CENTRAL NEW MEXICO
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0015| CORRECTIONAL FACILITY IN VALENCIA COUNTY; REAUTHORIZING
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0016| UNISSUED, UNEXPENDED OR UNENCUMBERED BALANCES TO EXPAND THE
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0017| SOUTHERN NEW MEXICO CORRECTIONAL FACILITY IN DONA ANA COUNTY;
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0018| MAKING APPROPRIATIONS; DECLARING AN EMERGENCY.
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0019|
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0020| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0021| Section 1. SEVERANCE TAX BONDS--PURPOSE FOR WHICH ISSUED--APPROPRIATION OF PROCEEDS.--
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0022| A. The state board of finance may issue and sell
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0023| severance tax bonds in compliance with the Severance Tax Bonding
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0024| Act in an amount not exceeding seven million four hundred
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0025| ninety-four thousand dollars ($7,494,000) when the property
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0001| control division of the general services department certifies
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0002| the need for the issuance of the bonds. The state board of
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0003| finance shall schedule the issuance and sale of the bonds in the
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0004| most expeditious and economical manner possible upon a finding
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0005| by the board that the project has been developed sufficiently to
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0006| justify the issuance and that the project can proceed to
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0007| contract within a reasonable time. The state board of finance
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0008| shall further take the appropriate steps necessary to comply
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0009| with the Internal Revenue Code of 1986, as amended. The
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0010| proceeds from the sale of the bonds are appropriated to the
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0011| property control division of the general services department in
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0012| the following amounts for the following purposes:
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0013| (1) four million nine hundred ninety-two
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0014| thousand four hundred dollars ($4,992,400) to upgrade the
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0015| support facilities at the penitentiary of New Mexico located in
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0016| Santa Fe county; and
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0017| (2) two million five hundred one thousand six
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0018| hundred dollars ($2,501,600) to plan, design, construct or equip
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0019| an infirmary at the central New Mexico correctional facility
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0020| located in Valencia county.
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0021| B. If the property control division of the general
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0022| services department has not certified the need for the issuance
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0023| of the bonds by the end of fiscal year 1999, the authorization
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0024| provided in this section shall be void. Any unexpended or
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0025| unencumbered balance remaining from the proceeds of severance
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0001| tax bonds issued pursuant to Subsection A of this section at the
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0002| end of fiscal year 2000 shall revert to the severance tax
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0003| bonding fund.
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0004| Section 2. SEVERANCE TAX BONDS--GENERAL SERVICES
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0005| DEPARTMENT--CHANGE IN PURPOSE--APPROPRIATION.--The balance of
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0006| the proceeds from severance tax bonds appropriated to the
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0007| property control division of the general services department,
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0008| pursuant to Subsection D of Section 9 of Chapter 222 of Laws
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0009| 1995, to install a fire protection system in the north and south
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0010| facilities at the penitentiary of New Mexico, shall not be
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0011| expended for its original purpose, but is reauthorized and
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0012| appropriated to complete expansion, including paving, installing
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0013| equipment, furnishing and making improvements at the southern
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0014| New Mexico correctional facility located in Dona Ana county.
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0015| Section 3. 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| - 3 -
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