0001| HOUSE BILL 229 | 0002| 43rd legislature - STATE OF NEW MEXICO - first session, 1997 | 0003| INTRODUCED BY | 0004| W. C. "DUB" WILLIAMS | 0005| | 0006| | 0007| | 0008| | 0009| | 0010| AN ACT | 0011| RELATING TO CAPITAL EXPENDITURES; AUTHORIZING THE ISSUANCE OF | 0012| SEVERANCE TAX BONDS FOR FUNDING PUBLIC CAPITAL IMPROVEMENTS IN | 0013| THE TOWN OF CARRIZOZO IN LINCOLN COUNTY; MAKING AN | 0014| 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- | 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 | 0021| Bonding Act in an amount not exceeding one million two hundred | 0022| seventeen thousand three hundred dollars ($1,217,300) when the | 0023| local government division of the department of finance and | 0024| administration certifies the need for the issuance of the | 0025| bonds. The state board of finance shall schedule the issuance | 0001| and sale of the bonds in the most expeditious and economical | 0002| manner possible upon a finding by the board that the project | 0003| has been developed sufficiently to justify the issuance and | 0004| that the project can proceed to contract within a reasonable | 0005| time. The state board of finance shall further take the | 0006| appropriate steps necessary to comply with the Internal Revenue | 0007| Code of 1986, as amended. The proceeds from the sale of the | 0008| bonds are appropriated to the local government division of the | 0009| department of finance and administration in the following | 0010| amounts for the following purposes, all in the town of | 0011| Carrizozo in Lincoln county: | 0012| (1) six hundred thirteen thousand dollars | 0013| ($613,000) for engineering and architectural studies, | 0014| construction and improvements necessary to construct a new | 0015| municipal building or renovate the existing municipal building; | 0016| (2) twenty thousand dollars ($20,000) to | 0017| purchase a computer system; | 0018| (3) one hundred thousand dollars ($100,000) to | 0019| improve the golf course by the purchase and installation of an | 0020| automated sprinkler system; | 0021| (4) two hundred twenty-five thousand dollars | 0022| ($225,000) to purchase heavy equipment for the city yard; | 0023| (5) one hundred fourteen thousand three | 0024| hundred dollars ($114,300) to improve, renovate and expand the | 0025| swimming pool; to improve the swimming pool facility to comply | 0001| with the American Disabilities Act of 1990; and to purchase and | 0002| install a heating system for the swimming pool; | 0003| (6) twenty thousand dollars ($20,000) for | 0004| engineering and architectural studies and construction to | 0005| renovate the existing Carrizozo municipal airport on Eighth | 0006| street and to comply with the American Disabilities Act of | 0007| 1990; and | 0008| (7) one hundred twenty-five thousand dollars | 0009| ($125,000) to purchase heavy equipment for the town yard. | 0010| B. If the local government division of the | 0011| department of finance and administration has not certified the | 0012| need for the issuance of the bonds by the end of fiscal year | 0013| 1999, the authorization provided in this section shall be void. | 0014| Any unexpended or unencumbered balance remaining from the | 0015| proceeds of severance tax bonds issued pursuant to Subsection A | 0016| of this section at the end of fiscal year 2000 shall revert to | 0017| the severance tax bonding fund. | 0018| Section 2. EMERGENCY.--It is necessary for the public | 0019| peace, health and safety that this act take effect immediately. | 0020|  |