0001| SENATE BILL 356 | 0002| 43rd legislature - STATE OF NEW MEXICO - first session, 1997 | 0003| INTRODUCED BY | 0004| LEONARD LEE RAWSON | 0005| | 0006| | 0007| | 0008| | 0009| | 0010| AN ACT | 0011| RELATING TO CAPITAL EXPENDITURES; AUTHORIZING THE ISSUANCE OF | 0012| SEVERANCE TAX BONDS FOR PURCHASING AND EQUIPPING A NEW | 0013| EMERGENCY MEDICAL SERVICES TRANSPORT VEHICLE FOR THE DUNGAN | 0014| VOLUNTEER FIRE DEPARTMENT IN ALAMOGORDO IN OTERO COUNTY; MAKING | 0015| AN APPROPRIATION; DECLARING AN EMERGENCY. | 0016| | 0017| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: | 0018| Section 1. SEVERANCE TAX BONDS--PURPOSE FOR WHICH ISSUED- | 0019| -APPROPRIATION OF PROCEEDS.--The state board of finance may | 0020| issue and sell severance tax bonds in compliance with the | 0021| Severance Tax Bonding Act in an amount not exceeding eighty | 0022| thousand dollars ($80,000) when the local government division | 0023| of the department of finance and administration certifies the | 0024| need for the issuance of the bonds. The state board of finance | 0025| shall schedule the issuance and sale of the bonds in the most | 0001| expeditious and economical manner possible upon a finding by | 0002| the board that the project has been developed sufficiently to | 0003| justify the issuance and that the project can proceed to | 0004| contract within a reasonable time. The state board of finance | 0005| shall further take the appropriate steps necessary to comply | 0006| with the Internal Revenue Code of 1986, as amended. The | 0007| proceeds from the sale of the bonds are appropriated to the | 0008| local government division of the department of finance and | 0009| administration for the purpose of purchasing and equipping a | 0010| new emergency medical services transport vehicle for the Dungan | 0011| volunteer fire department in Alamogordo located in Otero | 0012| county. Any unexpended or unencumbered balance remaining at | 0013| the end of fiscal year 2000 shall revert to the severance tax | 0014| bonding fund. If the local government division of the | 0015| department of finance and administration has not certified the | 0016| need for the issuance of the bonds by the end of fiscal year | 0017| 1999, the authorization provided in this section shall be void. | 0018| Section 2. EMERGENCY.--It is necessary for the public | 0019| peace, health and safety that this act take effect immediately. | 0020|  |