0001| SENATE BILL 678
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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| STUART INGLE
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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 MULTIPLE PROJECTS IN ROOSEVELT COUNTY;
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0014| MAKING APPROPRIATIONS; DECLARING AN EMERGENCY.
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0015|
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0016| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0017| Section 1. SEVERANCE TAX BONDS--AUTHORIZATIONS--
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0018| APPROPRIATION OF PROCEEDS.--
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0019| A. The state board of finance may issue and sell
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0020| severance tax bonds in compliance with the Severance Tax Bonding
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0021| Act in an amount not to exceed the total of the amounts
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0022| authorized for purposes specified in Sections 2 through 5 of
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0023| this act. The state board of finance shall schedule the
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0024| issuance and sale of the bonds in the most expeditious and
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0025| economical manner possible upon a finding by the board that the
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0001| project has been developed sufficiently to justify the issuance
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0002| and that the project can proceed to contract within a reasonable
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0003| time. The state board of finance shall further take the
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0004| appropriate steps necessary to comply with the Internal Revenue
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0005| Code of 1986, as amended. Proceeds from the sale of the bonds
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0006| are appropriated for the purposes specified in Sections 2
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0007| through 5 of this act.
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0008| B. The agencies named in Sections 2 through 5 of
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0009| this act shall certify to the state board of finance when the
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0010| money from the proceeds of the severance tax bonds authorized in
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0011| this section is needed for the purposes specified in the
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0012| applicable 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 through 5
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0019| of 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
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0022| ENVIRONMENT--PURPOSES.--Pursuant to the provisions of Section 1
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0023| of this act, upon certification by the department of environment
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0024| that the need exists for the issuance of the bonds, the
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0025| following amounts are appropriated to the department of
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0001| environment for the following purposes:
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0002| A. three hundred thousand dollars ($300,000) to
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0003| replace sewer lines in the city of Portales in Roosevelt county;
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0004| B. twenty-five thousand dollars ($25,000) to drill
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0005| and install an upgradient monitor well at the wastewater
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0006| treatment plant to meet discharge plan requirements as specified
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0007| by the department of environment in Roosevelt county;
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0008| C. one hundred seventy-five thousand dollars
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0009| ($175,000) to drill and install two water wells in the
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0010| Blackwater well field to ensure adequate water supply for the
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0011| city of Portales in Roosevelt county;
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0012| D. three hundred thousand dollars ($300,000) to
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0013| connect the two new wells specified in Subsection C of this
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0014| section to the city water system, including well piping and
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0015| other construction costs in Roosevelt county; and
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0016| E. seventy thousand dollars ($70,000) to extend a
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0017| twelve-inch water line to a new industrial park for use by
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0018| industries nearby in Roosevelt county.
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0019| Section 3. SEVERANCE TAX BONDS--STATE HIGHWAY AND
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0020| TRANSPORTATION DEPARTMENT--PURPOSES.--Pursuant to the provisions
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0021| of Section 1 of this act, upon certification by the state
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0022| highway and transportation department that the need exists for
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0023| the issuance of the bonds, the following amounts are
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0024| appropriated to the state highway and transportation department
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0025| for the following purposes:
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0001| A. one hundred ninety-three thousand nine hundred
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0002| seventy-one dollars ($193,971) to make improvements to south
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0003| Avenue I from west Eighteenth street to Yucca drive in Roosevelt
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0004| county;
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0005| B. one hundred ninety-six thousand five hundred
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0006| forty dollars ($196,540) to make improvements to north Avenue O
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0007| from west Fir street to the Portales city limits in Roosevelt
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0008| county; and
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0009| C. five hundred twenty-six thousand two hundred
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0010| dollars ($526,200) for the acquisition and installation of a
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0011| signalized railroad crossing, including deceleration lanes,
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0012| intersection redesign, elevation change and drainage
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0013| accommodation in Roosevelt county.
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0014| Section 4. SEVERANCE TAX BONDS--STATE AGENCY ON AGING--PURPOSE.--Pursuant to the provisions of Section 1 of this act,
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0015| upon certification by the state agency on agency that the need
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0016| exists for the issuance of the bonds, twenty-five thousand
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0017| dollars ($25,000) is appropriated to the state agency on aging
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0018| for construction costs and to install a parking lot and provide
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0019| landscaping for a senior citizen center in Portales in Roosevelt
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0020| county.
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0021| Section 5. SEVERANCE TAX BONDS--DEPARTMENT OF FINANCE AND
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0022| ADMINISTRATION--PURPOSE.--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, seventy-five
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0001| thousand dollars ($75,000) is appropriated to the local
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0002| government division of the department of finance and
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0003| administration for the purpose of acquiring land for use as a
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0004| library parking lot located in Roosevelt county.
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0005| Section 6. EMERGENCY.--It is necessary for the public
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0006| peace, health and safety that this act take effect immediately.
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0007|
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0008|
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0009|
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0010| FORTY-SECOND LEGISLATURE
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0011| SECOND SESSION, 1996
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0012|
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0013|
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0014| JANUARY 31, 1996
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0015|
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0016| Mr. President:
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0017|
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0018| Your COMMITTEES' COMMITTEE, to whom has been referred
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0019|
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0020| SENATE BILL 678
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0021|
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0022| has had it under consideration and finds same to be GERMANE, PURSUANT
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0023| TO CONSTITUTIONAL PROVISIONS, and thence referred to the FINANCE
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0024| COMMITTEE.
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0025|
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0001| Respectfully submitted,
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0002|
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0003|
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0004|
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0005|
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0006| __________________________________
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0007| SENATOR MANNY M. ARAGON, Chairman
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0008|
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0009|
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0010|
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0011| Adopted_______________________ Not Adopted_______________________
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0012| (Chief Clerk) (Chief Clerk)
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0013|
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0014|
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0015| Date ________________________
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0017|
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0018|
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0019| S0678CC1
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