0001| SENATE BILL 709 | 0002| 42ND LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION, | 0003| 1996 | 0004| INTRODUCED BY | 0005| GARY DON REAGAN | 0006| | 0007| | 0008| | 0009| | 0010| | 0011| AN ACT | 0012| RELATING TO CAPITAL EXPENDITURES; AUTHORIZING THE ISSUANCE OF | 0013| SEVERANCE TAX BONDS FOR VARIOUS PROJECTS IN EDDY COUNTY; MAKING | 0014| 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 | 0021| ENVIRONMENT--PURPOSES.--Pursuant to the provisions of Section 1 | 0022| of this act, upon certification by the department of environment | 0023| that the need exists for the issuance of the bonds, the | 0024| following amounts are appropriated to the department of | 0025| environment for the following purposes: | 0001| A. three hundred fifty thousand dollars ($350,000) | 0002| for planning, designing or constructing a wastewater effluent | 0003| reuse project for the city of Carlsbad in Eddy county; | 0004| B. two million nine hundred nineteen thousand | 0005| dollars ($2,919,000) for planning, designing or renovating the | 0006| county courthouse and jail facility, including site clearance | 0007| and remodeling necessary for compliance with the federal | 0008| Americans with Disabilities Act of 1990, in Eddy county; and | 0009| C. five thousand dollars ($5,000) for purchase and | 0010| installation of a tool storage shed at the county cemetery in | 0011| Eddy county. | 0012| Section 3. SEVERANCE TAX BONDS--DEPARTMENT OF FINANCE AND | 0013| ADMINISTRATION--PURPOSE.--Pursuant to the provisions of Section | 0014| 1 of this act, upon certification by the local government | 0015| division of the department of finance and administration that | 0016| the need exists for the issuance of the bonds, one hundred | 0017| twenty thousand dollars ($120,000) is appropriated to the local | 0018| government division of the department of finance and | 0019| administration for the purpose of landscaping and purchasing and | 0020| installing furnishings, including computer technology and | 0021| multimedia equipment, for the Pecos River Village conference | 0022| center in the city of Carlsbad located in Eddy county. | 0023| Section 4. EMERGENCY.--It is necessary for the public | 0024| peace, health and safety that this act take effect immediately. | 0025|  | 0001| | 0002| FORTY-SECOND LEGISLATURE | 0003| SECOND SESSION, 1996 | 0004| | 0005| | 0006| FEBRUARY 1, 1996 | 0007| | 0008| Mr. President: | 0009| | 0010| Your COMMITTEES' COMMITTEE, to whom has been referred | 0011| | 0012| SENATE BILL 709 | 0013| | 0014| has had it under consideration and finds same to be GERMANE, PURSUANT | 0015| TO CONSTITUTIONAL PROVISIONS, and thence referred to the FINANCE | 0016| COMMITTEE. | 0017| | 0018| Respectfully submitted, | 0019| | 0020| | 0021| | 0022| | 0023| __________________________________ | 0024| SENATOR MANNY M. ARAGON, Chairman | 0025| | 0001| | 0002| | 0003| Adopted_______________________ Not Adopted_______________________ | 0004| (Chief Clerk) (Chief Clerk) | 0005| | 0006| | 0007| Date ________________________ | 0008| | 0009| | 0010| | 0011| S0709CC1 |