0001| HOUSE BILL 54
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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| BEN LUJAN
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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| AUTHORIZING THE ISSUANCE AND SALE OF CAPITAL PROJECTS BONDS TO
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0013| MAKE CAPITAL EXPENDITURES FOR STATE PUBLIC POST-SECONDARY
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0014| EDUCATIONAL INSTITUTION IMPROVEMENTS AND ACQUISITIONS;
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0015| PROVIDING FOR A TAX LEVY FOR PAYMENT OF INTEREST AND PRINCIPAL
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0016| OF THE BONDS; REQUIRING APPROVAL OF THE REGISTERED VOTERS AT THE
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0017| NEXT GENERAL ELECTION; DECLARING AN EMERGENCY.
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0018|
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0019| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0020| Section 1. This act may be cited as the "1996 Capital
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0021| Projects Bond Act".
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0022| Section 2. For the purpose of providing funds for capital
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0023| expenditures as authorized in the 1996 Capital Projects Bond
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0024| Act, indebtedness of the state is hereby authorized in an amount
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0025| not to exceed one hundred forty-seven million seventy-nine
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0001| thousand dollars ($147,079,000) as provided in Section 9 of the
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0002| 1996 Capital Projects Bond Act and as may be approved by the
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0003| voters of the state and the state board of finance.
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0004| Section 3. The state board of finance, except as otherwise
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0005| specifically provided in the 1996 Capital Projects Bond Act,
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0006| shall issue and sell capital projects bonds in compliance with
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0007| the provisions of Article 4, Section 16 of the constitution of
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0008| New Mexico and shall, in accordance with the provisions of the
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0009| Supplemental Public Securities Act, the Uniform Facsimile
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0010| Signature of Public Officials Act and the Public Securities
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0011| Short-Term Interest Rate Act, determine the form, payment dates
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0012| and manner of payment of capital projects bonds.
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0013| Section 4. The proceeds from the sale of the bonds shall
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0014| be expended solely for providing funds to be distributed in the
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0015| amounts and for the purposes set forth in Section 9 of the 1996
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0016| Capital Projects Bond Act and to pay expenses incurred under the
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0017| provisions of Section 6 of that act.
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0018| Section 5. Bonds authorized by the 1996 Capital Projects
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0019| Bond Act shall be sold, after publication of notice in a
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0020| newspaper of statewide general circulation and in a recognized
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0021| financial journal published outside the state, at either private
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0022| or public sale for no less than par value and accrued interest
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0023| to date. The state board of finance may reject any and all bids
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0024| and waive any irregularity in a bid.
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0025| Section 6. The expenses incurred by the state board of
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0001| finance in or relating to the preparation and sale of the bonds
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0002| shall be paid out of the proceeds from the sale of the bonds.
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0003| Section 7. There is imposed and levied during each year in
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0004| which any of the bonds sold pursuant to the provisions of the
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0005| 1996 Capital Projects Bond Act are outstanding an ad valorem tax
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0006| on all property in the state subject to property taxation for
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0007| state purposes sufficient to pay the interest and principal on
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0008| such bonds as they become due.
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0009| Section 8. The provisions of the 1996 Capital Projects
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0010| Bond Act constitute an irrepealable contract with the holders of
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0011| any of the bonds issued pursuant to that act for the faithful
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0012| performance of which the full faith and credit of the state of
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0013| New Mexico is hereby pledged. All such bonds are exempt from
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0014| taxation by the state and any subdivision or public body
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0015| thereof.
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0016| Section 9. The proceeds from the sale of the 1996 capital
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0017| projects bonds issued under the provisions of the 1996 Capital
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0018| Projects Bond Act shall be distributed for state public
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0019| educational capital improvements and acquisitions to the
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0020| following agencies for the purposes and amounts specified:
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0021| A. to the commission on higher education:
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0022| (1) twelve million three hundred sixteen
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0023| thousand dollars ($12,316,000) to be allocated to state public
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0024| educational institutions located throughout the state for the
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0025| purpose of improving handicapped accessibility and life safety
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0001| requirements;
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0002| (2) five million dollars ($5,000,000) to be
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0003| allocated to public universities, colleges, schools, other
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0004| educational agencies and community groups for the purpose of
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0005| purchasing technology and equipment for the facilities located
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0006| throughout the state; and
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0007| (3) sixteen million two hundred sixty-three
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0008| thousand dollars ($16,263,000) to be allocated to state public
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0009| post-secondary educational institutions for the purpose of
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0010| renovating, updating and making improvements to the
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0011| infrastructure at the facilities located throughout the state;
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0012| B. to the board of regents of eastern New Mexico
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0013| university:
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0014| (1) three million three hundred sixty-five
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0015| thousand dollars ($3,365,000) to plan, design, construct, equip,
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0016| remodel and make improvements to the education building at the
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0017| main campus located in Roosevelt county;
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0018| (2) three million five hundred thousand dollars
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0019| ($3,500,000) to plan, design, construct, equip, renovate and
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0020| make improvements to Lea hall at the main campus located in
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0021| Roosevelt county; and
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0022| (3) four million six hundred eighty-seven
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0023| thousand dollars ($4,687,000) to plan, design, construct, equip
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0024| and remodel an addition to the instructional center at the
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0025| Roswell branch located in Chaves county;
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0001| C. to the board of regents of the university of New
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0002| Mexico:
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0003| (1) ten million dollars ($10,000,000) to plan,
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0004| design, construct, renovate, equip and make improvements to
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0005| certain instructional facilities on the main campus located in
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0006| Bernalillo county;
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0007| (2) one million three hundred fifty thousand
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0008| dollars ($1,350,000) to plan, design, construct and equip an
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0009| addition to the student services building at the Los Alamos
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0010| branch located in Los Alamos county;
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0011| (3) one million two hundred fifteen thousand
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0012| dollars ($1,215,000) to plan, design, construct and equip an
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0013| instructional laboratory facility at the Gallup branch located
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0014| in McKinley county;
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0015| (4) twenty-five million seven hundred thousand
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0016| dollars ($25,700,000) to plan, design, construct and equip a
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0017| science and technology complex at the main campus located in
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0018| Bernalillo county; and
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0019| (5) five hundred thousand dollars ($500,000) to
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0020| plan, design, construct and equip an architecture and planning
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0021| facility at the main campus located in Bernalillo county;
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0022| D. to the board of regents of western New Mexico
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0023| university:
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0024| (1) nine hundred fifty-three thousand dollars
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0025| ($953,000) to plan, design, remodel, make improvements to and
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0001| equip the Watts building located in Grant county;
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0002| (2) one million nine hundred twenty thousand
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0003| dollars ($1,920,000) to plan, design, renovate and equip the
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0004| auditorium located in Grant county; and
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0005| (3) six million two hundred thirty-seven
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0006| thousand dollars ($6,237,000) to plan, design, construct and
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0007| equip a computer science building located in Grant county;
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0008| E. to the board of regents of New Mexico institute
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0009| of mining and technology, six million four hundred fifty
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0010| thousand dollars ($6,450,000) to plan, design, construct an
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0011| addition to, renovate and equip Jones hall located in Socorro
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0012| county;
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0013| F. to the governing board of San Juan college, eight
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0014| hundred ten thousand dollars ($810,000) to plan, design,
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0015| construct and equip an advanced technology center located in San
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0016| Juan county;
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0017| G. to the governing board of Albuquerque technical-
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0018| vocational institute, four million dollars ($4,000,000) to plan,
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0019| design, construct and equip a service and operations center
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0020| located in Bernalillo county;
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0021| H. to the board of regents of New Mexico state
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0022| university:
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0023| (1) fifteen million ninety thousand dollars
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0024| ($15,090,000) to plan, design, construct and equip a center for
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0025| sustainable development of arid lands at the main campus located
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0001| in Dona Ana county;
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0002| (2) two million six hundred thousand dollars
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0003| ($2,600,000) to plan, design, renovate and equip Goddard hall at
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0004| the main campus located in Dona Ana county;
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0005| (3) two million one hundred twenty thousand
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0006| dollars ($2,120,000) to plan, design, construct and equip a
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0007| health and public services building at the Dona Ana branch
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0008| located in Dona Ana county; and
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0009| (4) three million two hundred forty-five
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0010| thousand dollars ($3,245,000) to plan, design, construct and
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0011| equip a multipurpose center at the Alamogordo branch located in
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0012| Otero county;
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0013| I. to the board of regents of New Mexico highlands
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0014| university:
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0015| (1) three million four hundred thousand dollars
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0016| ($3,400,000) to plan, design, renovate, construct an addition to
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0017| and equip the Douglas school located in San Miguel county; and
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0018| (2) five hundred thousand dollars ($500,000) to
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0019| plan, design, renovate and equip the industrial technology
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0020| building located in San Miguel county;
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0021| J. to the board of regents of northern New Mexico
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0022| state school:
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0023| (1) four hundred fifty thousand dollars
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0024| ($450,000) to plan, design, construct and equip phase three of
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0025| the center for the arts building located in Rio Arriba county;
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0001| and
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0002| (2) two million six hundred forty thousand
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0003| dollars ($2,640,000) to renovate, equip, expand and make
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0004| improvements at the El Rito campus located in Rio Arriba county;
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0005| K. to the community college board of Santa Fe
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0006| community college, three million seven hundred eleven thousand
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0007| dollars ($3,711,000) to plan, design, construct, renovate and
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0008| equip the instructional technology center located in Santa Fe
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0009| county;
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0010| L. to the governing board of Clovis community
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0011| college, one million one hundred thousand dollars ($1,100,000)
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0012| to plan, design, construct an addition to and renovate the
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0013| library located in Curry county;
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0014| M. to the governing board of New Mexico junior
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0015| college, five million two hundred thousand dollars ($5,200,000)
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0016| to plan, design, construct and equip a transportation training
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0017| center located in Lea county; and
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0018| N. to the governing board of Luna vocational-technical institute, two million seven hundred fifty-seven
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0019| thousand dollars ($2,757,000) to construct and equip an
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0020| instructional programs center located in San Miguel county.
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0021| Section 10. The question of whether to issue the bonds and
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0022| impose the tax pursuant to the 1996 Capital Projects Bond Act
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0023| shall be submitted to the registered voters of the state by the
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0024| secretary of state at the general election to be held in
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0025| November 1996, and if a majority of all the votes cast on the
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0001| question is in favor of the issuance of bonds and the imposition
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0002| of the tax, the bonds authorized in such question may be issued
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0003| after the state canvassing board certifies the results of the
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0004| election.
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0005| A ballot used in the 1996 general election shall contain
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0006| substantially the following language:
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0007| "The 1996 Capital Projects Bond Act authorizes the issuance
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0008| and sale of educational bonds. Shall the state of New Mexico be
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0009| authorized to issue general obligation bonds in an amount not to
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0010| exceed one hundred forty-seven million seventy-nine thousand
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0011| dollars ($147,079,000) to make capital expenditures for state
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0012| public post-secondary educational capital improvements and
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0013| acquisitions and to provide for a general property tax
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0014| imposition and levy for payment of the principal and interest on
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0015| the bonds as permitted by law?
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0016| For ______________ Against _____________".
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0017| Section 11. EMERGENCY.--It is necessary for the public
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0018| peace, health and safety that this act take effect immediately.
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0019|
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