0001|                           SENATE BILL 1286
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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|                           RAYMOND L. KYSAR
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0005|     
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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 THE PUBLIC PEACE, HEALTH, SAFETY AND WELFARE.
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0012|     
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0013|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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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
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0018|   
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0019|   
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0020|                                                  March 12, 1997
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0021|   
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0022|   Mr. President:
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0023|   
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0024|       Your CONSERVATION COMMITTEE, to whom has been referred
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0025|   
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0001|                          SENATE BILL 1286
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0002|   
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0003|   has had it under consideration and reports same with
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0004|   recommendation that it DO NOT PASS, but that
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0005|   
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0006|              SENATE CONSERVATION COMMITTEE SUBSTITUTE FOR
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0007|                            SENATE BILL 1286
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0008| 
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0009|   DO PASS, and thence referred to the COMMITTEES' COMMITTEE.
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0010|   
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0011|                                Respectfully submitted,
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0012|   
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0013|   
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0014|   
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0015|                                __________________________________
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0016|                                Michael S. Sanchez, Chairman 
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0017|   
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0018|   
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0019|   Adopted_______________________   Not Adopted_______________________
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0020|             (Chief Clerk)                          (Chief Clerk)
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0021|   
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0022|                     Date ________________________
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0023|   
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0024|   
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0025|   The roll call vote was <u> 10 </u> For <u> 0 </u> Against
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0001|           Yes:    10
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0002|           No:     0
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0003|                Excused:     None
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0004|           Absent: None
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0005|   
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0006|   S1286C01            SENATE CONSERVATION COMMITTEE SUBSTITUTE FOR
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0007|                           SENATE BILL 1286
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0008|     43rd legislature - STATE OF NEW MEXICO - first session, 1997
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0009|     
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0010|     
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0011|     
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0012|                                   
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0013|     
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0014|     
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0015|     
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0016|                                AN ACT
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0017|     RELATING TO THE PUBLIC PEACE, HEALTH, SAFETY AND WELFARE;
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0018|     AUTHORIZING THE ISSUANCE OF SEVERANCE TAX BONDS FOR REMODELING
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0019|     OF THE TORRANCE COUNTY COURTHOUSE; MAKING AN APPROPRIATION;
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0020|     DECLARING AN EMERGENCY.
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0021|     
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0022|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0023|         Section 1.  SEVERANCE TAX BONDS--PURPOSE FOR WHICH ISSUED-
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0024|     -APPROPRIATION OF PROCEEDS.--The state board of finance may
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0025|     issue and sell severance tax bonds in compliance with the
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0001|     Severance Tax Bonding Act in an amount not exceeding two
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0002|     hundred seventy thousand dollars ($270,000) when the local
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0003|     government division of the department of finance and
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0004|     administration certifies the need for the issuance of the
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0005|     bonds.  The state board of finance shall schedule the issuance
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0006|     and sale of the bonds in the most expeditious and economical
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0007|     manner possible upon a finding by the board that the project
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0008|     has been developed sufficiently to justify the issuance and
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0009|     that the project can proceed to contract within a reasonable
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0010|     time.  The state board of finance shall further take the
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0011|     appropriate steps necessary to comply with the Internal Revenue
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0012|     Code of 1986, as amended.  The proceeds from the sale of the
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0013|     bonds are appropriated to the local government division for the
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0014|     purpose of planning, designing, remodeling and equipping the
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0015|     Torrance county courthouse located in Torrance county.  Any
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0016|     unexpended or unencumbered balance remaining at the end of
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0017|     fiscal year 2000 shall revert to the severance tax bonding
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0018|     fund.  If the local government division has not certified the
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0019|     need for the issuance of the bonds by the end of fiscal year
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0020|     1999, the authorization provided in this section shall be void.
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0021|         Section 2.  EMERGENCY.--It is necessary for the public
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0022|     peace, health and safety that this act take effect immediately.
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0023|                              
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