0001| HOUSE BILL 1022 | 0002| 43rd legislature - STATE OF NEW MEXICO - first session, 1997 | 0003| INTRODUCED BY | 0004| GARY K. KING | 0005| | 0006| | 0007| | 0008| | 0009| | 0010| AN ACT | 0011| RELATING TO CAPITAL EXPENDITURES; AUTHORIZING THE ISSUANCE OF | 0012| SEVERANCE TAX BONDS FOR CAPITAL IMPROVEMENTS IN TORRANCE | 0013| COUNTY; MAKING APPROPRIATIONS; DECLARING AN EMERGENCY. | 0014| | 0015| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: | 0016| Section 1. SEVERANCE TAX BONDS--AUTHORIZATIONS-- | 0017| APPROPRIATION OF PROCEEDS.-- | 0018| A. The state board of finance may issue and sell | 0019| severance tax bonds in compliance with the Severance Tax | 0020| Bonding Act in an amount not to exceed the total of the amounts | 0021| authorized for the purposes specified in Sections 2 through 4 | 0022| of this act. The state board of finance shall schedule the | 0023| issuance and sale of the bonds in the most expeditious and | 0024| economical manner possible upon a finding by the board that the | 0025| project has been developed sufficiently to justify the issuance | 0001| and that the project can proceed to contract within a | 0002| reasonable time. The state board of finance shall further take | 0003| the appropriate steps necessary to comply with the Internal | 0004| Revenue Code of 1986, as amended. Proceeds from the sale of | 0005| the bonds are appropriated for the purposes specified in | 0006| Sections 2 through 4 of this act. | 0007| B. The agencies named in Sections 2 through 4 of | 0008| this act shall certify to the state board of finance when the | 0009| money from the proceeds of the severance tax bonds authorized | 0010| in this section is needed for the purposes specified in the | 0011| applicable 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| 1999, 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 through 4 | 0018| of this act at the end of fiscal year 2000 shall revert to the | 0019| severance tax bonding fund. | 0020| Section 2. SEVERANCE TAX BONDS--DEPARTMENT OF FINANCE AND | 0021| ADMINISTRATION--PURPOSES.--Pursuant to the provisions of | 0022| Section 1 of this act, upon certification by the local | 0023| government division of the department of finance and | 0024| administration that the need exists for the issuance of the | 0025| bonds, the following amounts are appropriated to the local | 0001| government division for the following purposes: | 0002| A. ten thousand dollars ($10,000) to build kennels | 0003| for animal control in Torrance county; | 0004| B. one million fifty-seven thousand dollars | 0005| ($1,057,000) to acquire land, renovate, construct, furnish or | 0006| equip the judicial complex in Torrance county; | 0007| C. eighty thousand dollars ($80,000) to purchase | 0008| vehicles for the sheriff's department in Torrance county; | 0009| D. one hundred seventy-five thousand dollars | 0010| ($175,000) to purchase a four-wheel drive tanker truck for the | 0011| McIntosh volunteer fire department in Torrance county; | 0012| E. five hundred eighty thousand dollars ($580,000) | 0013| to acquire land and construct a new volunteer fire department | 0014| station in district 2 Torrance county; | 0015| F. one hundred twenty-five thousand dollars | 0016| ($125,000) to repair buildings and a tanker truck and to | 0017| acquire a new vehicle for the northeast district volunteer fire | 0018| department in Torrance county; and | 0019| G. three million dollars ($3,000,000) to construct | 0020| erosion control and water conservation projects on Abo arroyo | 0021| to prevent U.S. highway 60 from washing out in Torrance county. | 0022| Section 3. SEVERANCE TAX BONDS--STATE HIGHWAY AND | 0023| TRANSPORTATION DEPARTMENT--PURPOSE.--Pursuant to the provisions | 0024| of Section 1 of this act, upon certification by the state | 0025| highway and transportation department that the need exists for | 0001| the issuance of the bonds, four hundred thousand dollars | 0002| ($400,000) is appropriated to the state highway and | 0003| transportation department for the purpose of making road | 0004| improvements throughout Torrance county. | 0005| Section 4. SEVERANCE TAX BONDS--STATE AGENCY ON AGING-- | 0006| PURPOSE.--Pursuant to the provisions of Section 1 of this act, | 0007| upon certification by the state agency on aging that the need | 0008| exists for the issuance of the bonds, two hundred two thousand | 0009| three hundred dollars ($202,300) is appropriated to the state | 0010| agency on aging for the purpose of renovating, improving, | 0011| equipping and purchasing vehicles for the county senior | 0012| citizens center located in Torrance county | 0013| Section 5. EMERGENCY.--It is necessary for the public | 0014| peace, health and safety that this act take effect immediately. | 0015|  |