0001| SENATE BILL 421
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0002| 43rd legislature - STATE OF NEW MEXICO - first session, 1997
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0003| INTRODUCED BY
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0004| DEDE FELDMAN
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0006|
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0007|
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0008|
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0009|
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0010| AN ACT
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0011| RELATING TO CAPITAL EXPENDITURES; AUTHORIZING THE ISSUANCE OF
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0012| SEVERANCE TAX BONDS FOR THE CLUSTER TECHNOLOGY DEVELOPMENT
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0013| PROGRAM FOR VARIOUS PUBLIC SCHOOLS IN BERNALILLO COUNTY; MAKING
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0014| AN APPROPRIATION; DECLARING AN EMERGENCY.
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0015|
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0016| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0017| Section 1. SEVERANCE TAX BONDS--PURPOSE FOR WHICH ISSUED-
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0018| -APPROPRIATION OF PROCEEDS.--
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0019| A. The state board of finance may issue and sell
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0020| severance tax bonds in compliance with the Severance Tax
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0021| Bonding Act in an amount not exceeding five hundred seventy-
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0022| nine thousand five hundred seventy dollars ($579,570) when the
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0023| state department of public education certifies the need for the
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0024| issuance of the bonds. The state board of finance shall
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0025| schedule the issuance and sale of the bonds in the most
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0001| expeditious and economical manner possible upon a finding by
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0002| the board that the project has been developed sufficiently to
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0003| justify the issuance and that the project can proceed to
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0004| contract within a reasonable time. The state board of finance
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0005| shall further take the appropriate steps necessary to comply
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0006| with the Internal Revenue Code of 1986, as amended. The
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0007| proceeds from the sale of the bonds are appropriated to the
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0008| state department of public education in the following amounts
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0009| to purchase and install computer, telecommunications and
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0010| electrical support infrastructure in the following public
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0011| schools in Bernalillo county:
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0012| (1) seventy-six thousand four hundred fifty-
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0013| five dollars ($76,455) for Cochiti elementary school;
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0014| (2) twenty-eight thousand dollars ($28,000)
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0015| for Garfield middle school;
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0016| (3) fifty-seven thousand seven hundred five
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0017| dollars ($57,705) for Griegos elementary school;
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0018| (4) seventy thousand dollars ($70,000) for La
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0019| Luz elementary school;
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0020| (5) seventy thousand dollars ($70,000) for Los
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0021| Duranes elementary school;
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0022| (6) seventy-five thousand dollars ($75,000)
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0023| for MacArthur elementary school;
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0024| (7) sixty-two thousand one hundred ten dollars
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0025| ($62,110) for Mission Avenue elementary school;
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0001| (8) ninety thousand dollars ($90,000) for
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0002| Reginald Chavez elementary school; and
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0003| (9) fifty thousand three hundred dollars
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0004| ($50,300) for Valley high school.
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0005| B. If the state department of public education has
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0006| not certified the need for the issuance of the bonds by the end
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0007| of fiscal year 1999, the authorization provided in this section
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0008| shall be void. Any unexpended or unencumbered balance
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0009| remaining from the proceeds of severance tax bonds issued
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0010| pursuant to Subsection A of this section at the end of fiscal
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0011| year 2000 shall revert to the severance tax bonding fund.
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0012| Section 2. EMERGENCY.--It is necessary for the public
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0013| peace, health and safety that this act take effect immediately.
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0014|
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0015|
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0016| FORTY-THIRD LEGISLATURE
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0017| FIRST SESSION, 1997 SB 421/a
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0018|
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0019| February 11, 1997
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0020|
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0021| Mr. President:
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0022|
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0023| Your EDUCATION COMMITTEE, to whom has been referred
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0024|
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0025| SENATE BILL 421
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0001|
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0002| has had it under consideration and reports same with
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0003| recommendation that it DO PASS, amended as follows:
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0004|
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0005| 1. On page 1, lines 21 and 22, strike "five hundred
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0006| seventy-nine thousand five hundred seventy dollars ($579,570)"
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0007| and insert in lieu thereof "six hundred one thousand five hundred
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0008| seventy dollars ($601,570)".
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0009|
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0010| 2. On page 2, line 14, strike "twenty-eight thousand
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0011| dollars ($28,000)" and insert in lieu thereof "fifty thousand
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0012| dollars ($50,000)".,
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0013|
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0014| and thence referred to the FINANCE COMMITTEE.
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0015|
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0016| Respectfully submitted,
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0017|
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0018|
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0019|
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0020| __________________________________
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0021| Cynthia Nava, Chairman
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0022|
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0023|
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0024| Adopted_______________________ Not
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0025| Adopted_______________________
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0001| (Chief Clerk) (Chief Clerk)
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0002|
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0003| Date ________________________
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0004|
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0005|
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0006| The roll call vote was 7 For 0 Against
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0007| Yes: 7
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0008| No: 0
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0009| Excused: Duran, Gorham, Pinto
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0010| Absent: None
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0011|
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0012|
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0013| S0421ED1 .116306.1
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