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|                                  
    |