0001| HOUSE BILL 281 | 0002| 43RD LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION, 1998 | 0003| INTRODUCED BY | 0004| RAYMOND G. SANCHEZ | 0005| | 0006| | 0007| | 0008| | 0009| | 0010| AN ACT | 0011| RELATING TO CAPITAL EXPENDITURES; AUTHORIZING THE ISSUANCE OF | 0012| SEVERANCE TAX BONDS FOR INFRASTRUCTURE RENOVATION AND OTHER | 0013| CAPITAL IMPROVEMENTS ON THE CAMPUSES OF STATE EDUCATIONAL | 0014| INSTITUTIONS; MAKING APPROPRIATIONS; DECLARING AN EMERGENCY. | 0015| | 0016| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: | 0017| Section 1. SEVERANCE TAX BONDS--AUTHORIZATIONS-- | 0018| APPROPRIATION OF PROCEEDS.-- | 0019| A. The state board of finance may issue and sell | 0020| severance tax bonds in compliance with the Severance Tax | 0021| Bonding Act in an amount not to exceed the total of the | 0022| amounts authorized for purposes specified in Sections 2 | 0023| through 14 of this act. The state board of finance shall | 0024| schedule the issuance and sale of the bonds in the most | 0025| expeditious and economical manner possible upon a finding by | - 1 - 0001| the board that the project has been developed sufficiently to | 0002| justify the issuance and that the project can proceed to | 0003| contract within a reasonable time. The state board of finance | 0004| shall further take the appropriate steps necessary to comply | 0005| with the Internal Revenue Code of 1986, as amended. Proceeds | 0006| from the sale of the bonds are appropriated for the purposes | 0007| specified in Sections 2 through 14 of this act. | 0008| B. The agencies named in Sections 2 through 14 of | 0009| this act shall certify to the state board of finance when the | 0010| money from the proceeds of the severance tax bonds authorized | 0011| in this section is needed for the purposes specified in the | 0012| applicable section of this act. | 0013| C. If the specified agency has not certified the | 0014| need for the issuance of the bonds by the end of fiscal year | 0015| 2000, the authorization provided in this act shall be void. | 0016| D. Unless otherwise specified in this act, any | 0017| unexpended or unencumbered balance remaining from the proceeds | 0018| of severance tax bonds issued pursuant to Sections 2 through | 0019| 14 of this act at the end of fiscal year 2001 shall revert to | 0020| the severance tax bonding fund. | 0021| Section 2. SEVERANCE TAX BONDS--BOARD OF REGENTS OF THE | 0022| UNIVERSITY OF NEW MEXICO--PURPOSE.--Pursuant to the provisions | 0023| of Section 1 of this act, upon certification by the board of | 0024| regents of the university of New Mexico that the need exists | 0025| for the issuance of the bonds, four million fifty thousand | - 2 - 0001| dollars ($4,050,000) is appropriated to the board of regents | 0002| of the university of New Mexico for the purpose of funding | 0003| utility distribution system expansion, a domestic water | 0004| system, access roads and street repairs on the main campus of | 0005| the university of New Mexico located in Bernalillo county. | 0006| Section 3. SEVERANCE TAX BONDS--BOARD OF REGENTS OF | 0007| EASTERN NEW MEXICO UNIVERSITY--PURPOSE.--Pursuant to the | 0008| provisions of Section 1 of this act, upon certification by the | 0009| board of regents of eastern New Mexico university that the | 0010| need exists for the issuance of the bonds, one million seven | 0011| hundred fifty-two thousand dollars ($1,752,000) is | 0012| appropriated to the board of regents of eastern New Mexico | 0013| university for the purpose of funding infrastructure renewal | 0014| and information systems infrastructure at the main and branch | 0015| campuses of eastern New Mexico university. | 0016| Section 4. SEVERANCE TAX BONDS--BOARD OF REGENTS OF NEW | 0017| MEXICO HIGHLANDS UNIVERSITY--PURPOSE.--Pursuant to the | 0018| provisions of Section 1 of this act, upon certification by the | 0019| board of regents of New Mexico highlands university that the | 0020| need exists for the issuance of the bonds, one million two | 0021| hundred forty-seven thousand dollars ($1,247,000) is | 0022| appropriated to the board of regents of New Mexico highlands | 0023| university for the purpose of funding infrastructure | 0024| improvements and information systems infrastructure on the | 0025| campus of New Mexico highlands university located in San | - 3 - 0001| Miguel county. | 0002| Section 5. SEVERANCE TAX BONDS--BOARD OF REGENTS OF THE | 0003| NEW MEXICO INSTITUTE OF MINING AND TECHNOLOGY--PURPOSE.-- | 0004| Pursuant to the provisions of Section 1 of this act, upon | 0005| certification by the board of regents of the New Mexico | 0006| institute of mining and technology that the need exists for | 0007| the issuance of the bonds, one million one hundred ninety- | 0008| seven thousand dollars ($1,197,000) is appropriated to the | 0009| board of regents of the New Mexico institute of mining and | 0010| technology for the purpose of funding infrastructure | 0011| renovation and expansion and information systems | 0012| infrastructure on the campus of the New Mexico institute of | 0013| mining and technology located in Socorro county. | 0014| Section 6. SEVERANCE TAX BONDS--BOARD OF REGENTS OF NEW | 0015| MEXICO STATE UNIVERSITY--PURPOSES.--Pursuant to the provisions | 0016| of Section 1 of this act, upon certification by the board of | 0017| regents of New Mexico state university that the need exists | 0018| for the issuance of the bonds, the following amounts are | 0019| appropriated to the board of regents of New Mexico state | 0020| university for the following purposes: | 0021| A. one million four hundred thousand dollars | 0022| ($1,400,000) for the purpose of funding the upgrade and | 0023| expansion of campus utility infrastructure on the main campus | 0024| of New Mexico state university located in Dona Ana county; | 0025| B. one hundred fifty thousand dollars ($150,000) | - 4 - 0001| for the purpose of funding infrastructure renewal on the | 0002| Alamogordo campus of New Mexico state university located in | 0003| Otero county; | 0004| C. one hundred twelve thousand five hundred | 0005| dollars ($112,500) for the purpose of funding infrastructure | 0006| renewal on the Dona Ana campus of New Mexico state university | 0007| located in Dona Ana county; | 0008| D. two hundred fifty thousand dollars ($250,000) | 0009| for the purpose of funding infrastructure renewal on the | 0010| Carlsbad campus of New Mexico state university located in Eddy | 0011| county; and | 0012| E. two hundred fifty thousand dollars ($250,000) | 0013| for the purpose of funding infrastructure renewal on the | 0014| Grants campus of New Mexico state university located in Cibola | 0015| county. | 0016| Section 7. SEVERANCE TAX BONDS--BOARD OF REGENTS OF | 0017| WESTERN NEW MEXICO UNIVERSITY--PURPOSE.--Pursuant to the | 0018| provisions of Section 1 of this act, upon certification by the | 0019| board of regents of western New Mexico university that the | 0020| need exists for the issuance of the bonds, one million two | 0021| hundred forty-seven thousand dollars ($1,247,000) is | 0022| appropriated to the board of regents of western New Mexico | 0023| university for the purpose of funding infrastructure | 0024| renovation and expansion and information systems | 0025| infrastructure on the western New Mexico university campus | - 5 - 0001| located in Grant county. | 0002| Section 8. SEVERANCE TAX BONDS--BOARD OF REGENTS OF | 0003| NORTHERN NEW MEXICO STATE SCHOOL--PURPOSES.--Pursuant to the | 0004| provisions of Section 1 of this act, upon certification by the | 0005| board of regents of northern New Mexico state school that the | 0006| need exists for the issuance of the bonds, the following | 0007| amounts are appropriated to the board of regents of northern | 0008| New Mexico state school for the following purposes: | 0009| A. four hundred fifty thousand dollars ($450,000) | 0010| for the purpose of funding site drainage improvements on the | 0011| Espanola campus of northern New Mexico state school located in | 0012| Rio Arriba county; and | 0013| B. two hundred twenty thousand dollars ($220,000) | 0014| for the purpose of funding phase II infrastructure for sewer | 0015| and water improvements on the El Rito campus of northern New | 0016| Mexico state school located in Rio Arriba county. | 0017| Section 9. SEVERANCE TAX BONDS--COMMUNITY COLLEGE BOARD | 0018| OF CLOVIS COMMUNITY COLLEGE--PURPOSE.--Pursuant to the | 0019| provisions of Section 1 of this act, upon certification by the | 0020| community college board of Clovis community college that the | 0021| need exists for the issuance of the bonds, six hundred sixty- | 0022| three thousand seven hundred fifty dollars ($663,750) is | 0023| appropriated to the community college board of Clovis | 0024| community college for the purpose of funding infrastructure | 0025| renovation, access roads and parking lots on the Clovis | - 6 - 0001| community college campus located in Curry county. | 0002| Section 10. SEVERANCE TAX BONDS--GOVERNING BOARD OF NEW | 0003| MEXICO JUNIOR COLLEGE--PURPOSE.--Pursuant to the provisions of | 0004| Section 1 of this act, upon certification by the governing | 0005| board of New Mexico junior college that the need exists for | 0006| the issuance of the bonds, four hundred thousand dollars | 0007| ($400,000) is appropriated to the governing board of New | 0008| Mexico junior college for the purpose of funding | 0009| infrastructure improvements on the campus of New Mexico junior | 0010| college located in Lea county. | 0011| Section 11. SEVERANCE TAX BONDS--GOVERNING BOARD OF SAN | 0012| JUAN COLLEGE--PURPOSE.--Pursuant to the provisions of Section | 0013| 1 of this act, upon certification by the governing board of | 0014| San Juan college that the need exists for the issuance of the | 0015| bonds, six hundred fifty thousand dollars ($650,000) is | 0016| appropriated to the governing board of San Juan college for | 0017| the purpose of funding mechanical system upgrades on the | 0018| campus of San Juan college located in San Juan county. | 0019| Section 12. SEVERANCE TAX BONDS--BOARD OF REGENTS OF NEW | 0020| MEXICO MILITARY INSTITUTE--PURPOSE.--Pursuant to the | 0021| provisions of Section 1 of this at, upon certification by the | 0022| board of regents of New Mexico military institute that the | 0023| need exists for the issuance of the bonds, one million one | 0024| hundred seventy-seven thousand dollars ($1,177,000) is | 0025| appropriated to the board of regents of New Mexico military | - 7 - 0001| institute for the purpose of funding general sewer and water | 0002| improvements on the campus of New Mexico military institute | 0003| located in Chaves county. | 0004| Section 13. SEVERANCE TAX BONDS--BOARD OF REGENTS OF NEW | 0005| MEXICO SCHOOL FOR THE DEAF--PURPOSE.--Pursuant to the | 0006| provisions of Section 1 of this act, upon certification by the | 0007| board of regents of New Mexico school for the deaf that the | 0008| need exists for the issuance of the bonds, seven hundred fifty | 0009| thousand dollars ($750,000) is appropriated to the board of | 0010| regents of New Mexico school for the deaf for the purpose of | 0011| funding infrastructure improvements on the campus of New | 0012| Mexico school for the deaf located in Santa Fe county. | 0013| Section 14. SEVERANCE TAX BONDS--GOVERNING BOARD OF LUNA | 0014| VOCATIONAL-TECHNICAL INSTITUTE--PURPOSE.--Pursuant to the | 0015| provisions of Section 1 of this act, upon certification by the | 0016| governing board of Luna vocational-technical institute that | 0017| the need exists for the issuance of the bonds, seven hundred | 0018| fifty thousand dollars ($750,000) is appropriated to the | 0019| governing board of Luna vocational-technical institute for the | 0020| purpose of funding general improvements on the campus of Luna | 0021| vocational-technical institute located in San Miguel county. | 0022| Section 15. EMERGENCY.--It is necessary for the public | 0023| peace, health and safety that this act take effect | 0024| immediately. | 0025|  | - 8 -