0001| SENATE BILL 546 | 0002| 42ND LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION, | 0003| 1996 | 0004| INTRODUCED BY | 0005| ELIZABETH T. STEFANICS | 0006| | 0007| | 0008| | 0009| | 0010| | 0011| AN ACT | 0012| RELATING TO CAPITAL EXPENDITURES; AUTHORIZING THE ISSUANCE OF | 0013| SEVERANCE TAX BONDS FOR THE POJOAQUE SEPTAGE FACILITY IN SANTA | 0014| FE COUNTY; MAKING AN APPROPRIATION; DECLARING AN EMERGENCY. | 0015| | 0016| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: | 0017| Section 1. SEVERANCE TAX BONDS--PURPOSE FOR WHICH ISSUED--APPROPRIATION OF PROCEEDS.--The state board of finance may issue | 0018| and sell severance tax bonds in compliance with the Severance | 0019| Tax Bonding Act in an amount not exceeding one hundred sixty | 0020| thousand dollars ($160,000) when the department of environment | 0021| certifies the need for the issuance of the bonds. The state | 0022| board of finance shall schedule the issuance and sale of the | 0023| bonds in the most expeditious and economical manner possible | 0024| upon a finding by the board that the project has been developed | 0025| sufficiently to justify the issuance and that the project can | 0001| proceed to contract within a reasonable time. The state board | 0002| of finance shall further take the appropriate steps necessary to | 0003| comply with the Internal Revenue Code of 1986, as amended. The | 0004| proceeds from the sale of the bonds are appropriated to the | 0005| department of environment for the purpose of completing the | 0006| Pojoaque septage facility located in Santa Fe county. The | 0007| certification and issuance of bonds is contingent upon | 0008| completion of prior funding commitments from the federal, state | 0009| and pueblo of Pojoaque governments of at least one million four | 0010| hundred thousand dollars ($1,400,000). Any unexpended or | 0011| unencumbered balance remaining at the end of fiscal year 1999 | 0012| shall revert to the severance tax bonding fund. If the | 0013| department of environment has not certified the need for the | 0014| issuance of the bonds by the end of fiscal year 1998, the | 0015| authorization provided in this section shall be void. | 0016| Section 2. EMERGENCY.--It is necessary for the public | 0017| peace, health and safety that this act take effect immediately. | 0018|  | 0019|  | 0020| | 0021| FORTY-SECOND LEGISLATURE | 0022| SECOND SESSION, 1996 | 0023| | 0024| | 0025| JANUARY 30, 1996 | 0001| | 0002| Mr. President: | 0003| | 0004| Your COMMITTEES' COMMITTEE, to whom has been referred | 0005| | 0006| SENATE BILL 546 | 0007| | 0008| has had it under consideration and finds same to be GERMANE, PURSUANT | 0009| TO CONSTITUTIONAL PROVISIONS, and thence referred to the FINANCE | 0010| COMMITTEE. | 0011| | 0012| Respectfully submitted, | 0013| | 0014| | 0015| | 0016| | 0017| __________________________________ | 0018| SENATOR MANNY M. ARAGON, Chairman | 0019| | 0020| | 0021| | 0022| Adopted_______________________ Not Adopted_______________________ | 0023| (Chief Clerk) (Chief Clerk) | 0024| | 0025| | 0001| Date ________________________ | 0002| | 0003| | 0004| | 0005| S0546CC1 | 0006| | 0007| FORTY-SECOND LEGISLATURE | 0008| SECOND SESSION, 1996 | 0009| | 0010| | 0011| JANUARY 30, 1996 | 0012| | 0013| Mr. President: | 0014| | 0015| Your COMMITTEES' COMMITTEE, to whom has been referred | 0016| | 0017| SENATE BILL 546 | 0018| | 0019| has had it under consideration and finds same to be GERMANE, PURSUANT | 0020| TO CONSTITUTIONAL PROVISIONS, and thence referred to the FINANCE | 0021| COMMITTEE. | 0022| | 0023| Respectfully submitted, | 0024| | 0025| | 0001| | 0002| | 0003| __________________________________ | 0004| SENATOR MANNY M. ARAGON, Chairman | 0005| | 0006| | 0007| | 0008| Adopted_______________________ Not Adopted_______________________ | 0009| (Chief Clerk) (Chief Clerk) | 0010| | 0011| | 0012| Date ________________________ | 0013| | 0014| | 0015| | 0016| S0546CC1 |